Entrepreneurs can have a great effect on the economic growth of a country and are certainly fundamental in creating more jobs and revenue for a country.
A brief outline of the major contributions entrepreneurs have on the economic growth of a country is as follows:
• They create their own job and therefore do not rely on the state
• They also create lots more jobs that helps bring down unemployment
• They bring more revenue into a country and also pay taxes that helps the country grow
• They bring in outside trade from other countries that can help relations between countries
Without entrepreneurs there would always only be a set amount of jobs available for a country's population and so many would always find work hard to come by and so would be forced to live on state benefits - which obviously drains the country's finances.
Therefore with entrepreneurs not only creating their own job but when hiring many more people then this of course helps to relieve the unemployment figures which can save a country billions. When any business makes money then they are liable to pay taxes and this is of course the case with entrepreneurs and their employees. This extra revenue in taxes can help enormously with a country's economic growth.
If this is a homework question, which it certainly sound like it is, then you should really think about doing the research yourself. It will benefit you in the long-term as if you simply just ask someone else to do your work you will come into major problems when sitting any exams. It will always sink in more if you've done extensive research yourself and you should find it more satisfying knowing you've done all your own work.
A brief outline of the major contributions entrepreneurs have on the economic growth of a country is as follows:
• They create their own job and therefore do not rely on the state
• They also create lots more jobs that helps bring down unemployment
• They bring more revenue into a country and also pay taxes that helps the country grow
• They bring in outside trade from other countries that can help relations between countries
Without entrepreneurs there would always only be a set amount of jobs available for a country's population and so many would always find work hard to come by and so would be forced to live on state benefits - which obviously drains the country's finances.
Therefore with entrepreneurs not only creating their own job but when hiring many more people then this of course helps to relieve the unemployment figures which can save a country billions. When any business makes money then they are liable to pay taxes and this is of course the case with entrepreneurs and their employees. This extra revenue in taxes can help enormously with a country's economic growth.
If this is a homework question, which it certainly sound like it is, then you should really think about doing the research yourself. It will benefit you in the long-term as if you simply just ask someone else to do your work you will come into major problems when sitting any exams. It will always sink in more if you've done extensive research yourself and you should find it more satisfying knowing you've done all your own work.
