How entrepreneurs affect an economy
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This is the slide we shared on Cancham Breakfast in Hanoi, Vietnam.
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How entrepreneurs affect an economy
- 1. CANCHAM’S BREAKFAST CLUB HOW ENTREPRENEURS AFFECT AN ECONOMY? in association with
- 2. ENTREPRENEUR’S ROLE IN ECONOMIC DEVELOPMENT in association with
- 3. Entrepreneurs: • Create jobs • Increase profits • Pay taxes in association with
- 4. COUNTRIES’ MARKET RESOURCES PLACE in association with
- 5. COUNTRIES’ MARKET RESOURCES PLACE in association with
- 8. & WEALTH BUILDING. FUTURE PROSPERITY in association with
Editor's Notes
- Greeting and grateful to Cancham.Introduce topic: How Entrepreneurs affect an economy.
- Entrepreneurs create jobs, increase profits, and pay taxes that support a country's social programs, health care system (if public, not private) and infrastructure (roadways, etc.). Without the tax dollars of entrepreneurs, countries might not be able to properly care for their citizens.
- Countries all have their own sets of resources; these may include mining deposits, farmlands, orchards, and fisheries. However, getting these resources (if they are not nationalized, or government-run) out into the marketplaces (national and international) depends on the ideas and implementations of entrepreneurs. These visionary business people do market research, create business plans, seek out investors and financing, and then strive to create products and services that utilize a country's resources.
- Countries all have their own sets of resources; these may include mining deposits, farmlands, orchards, and fisheries. However, getting these resources (if they are not nationalized, or government-run) out into the marketplaces (national and international) depends on the ideas and implementations of entrepreneurs. These visionary business people do market research, create business plans, seek out investors and financing, and then strive to create products and services that utilize a country's resources.
- Without the actions of entrepreneurs, a country may not reach its full potential; after all, national economic growth is dependent upon the proper ideas, innovations, and advancements. From technology to food products to entertainment...entrepreneurs are the backbone of the national economy, sharing space with established multinational corporations and government agencies.
- Countries that favor multinationals over small and medium-sized businesses run by entrepreneurs may find that their brightest new talents leave the country for greener pastures. Sometimes, this occurrence is referred to as "brain drain".
- The role of entrepreneurship in the economy of a country is to inspire new business ventures that support wealth building and future prosperity. Entrepreneurs create newbusiness opportunities in all areas of industry; they support the growth and health of a country's national economy.