How Does Entrepreneurship Help to Reduce Unemployment?

• Generation of Job opportunities

–        Unemployment is the root of all socio economic problems.

–        Provides employment and income.

• Increasing the export trade

–        Development of entrepreneurship helps to increase production.

–        Hence market also grows and expands. Exports also go up.

·         Contribute to increase the GDP in the country

–        Government gets income of various taxes by medium of venture of new entrepreneurs.

·         Providing leadership in the industrial development

–        An entrepreneur is the combination of two skills-an ideal person and a manager.

–        There must be persons who have vision, initiative and drive to utilize the resources. These qualities and abilities are combined only in entrepreneurs

• Introducing innovations and changes

–        Entrepreneur always looks for changes.

–        He not only combines the factors of production but also introduces new combinations of factors.

–        Responds to changes and exploits it as an opportunity.

• Increasing the standard of living of the people

–        A country is said to have achieved economic development only when its people enjoy a higher standard living.

–        Entrepreneur contributes to the growth of national income of a country.

    (By exploiting natural resources, creating wealth and generating employment and income)