Entrepreneurs : Need of the Hour
Posted by shivamkesari
Every society is driven by economic and money always plays its role in day to day business activity. But on the other side not everyone is capable of sustaining quality life and many of them even fail to receive basic amenities. Probing for the cause to this problem one can find it to be lack of employment opportunity in job market. The balance between employment seeker and employment opportunity not only financially supports a person but also adds to country’s development. The increase in unemployed population further raises the number of dependent citizens in the country. With the steady national income and resources the country need to feed large population. Unemployment or poor quality of employment is also liable for poverty, poor education and low awareness, exploitation of workers, Naxalism and insurgency, burglarism, terrorism and such others.
The fact and figures of last few decades endorses that in-spite of high population growth and reducing area of fertile land, crop production had increased significantly but the citizens didn’t have financial resources to buy them, similar is the case with other resources. What the country needs is sufficient purchasing power in hand of citizens to avail those products and services. As per a research if 100 people get employed it further creates employment opportunity for 1000 people, may be directly or indirectly. But the slow rate of industrialization has curbed sufficient employment opportunity.
The need of the hour is planning and executing innovative business ideas which can generate adequate employment, drive economic growth and expand human welfare. The globalization and liberalization of economy of a country gives an opportunity to foreign firm to enter the domestic market but it has its own pros and cons. The terms and conditions of operation, profit sharing, capital investment, employment condition may have to be compromised by both- government and firm, in order to maintain the foreign entity’s operation in the country. At the same time, downturn in global market also affects domestic market. Globalization and liberalization of economy should be exploited in other way to strengthen and encourage entrepreneurs from within the country to grab the opportunity and take risk for bold and independent business ideas. For capital investment foreign entity can be involved. Encouraging global entrepreneurship will not only create employment but will also motivate other change agents to invent unique and alternative products and services. Sufficient employment options will also curb exploitation of workers and monopoly in the market. Global entrepreneurship will bring a revolution in market as it will increase competition and will result in better services and qualitative and cheap product’s availability in the market.
Different countries are now recognizing the entrepreneurs as ‘agent of change’ which will bring industry and business revolution in near future. The countries had formed consortium to promote these entrepreneurs. The developed country should give priority to promote domestic entrepreneurs of under developed or developing country. For expanded human welfare we need to think beyond profit. Prosperous citizen leads to prosperous nation which makes a complete world.