Businesses are known to be one of the valuable assets of an economy as it provides contributions and economic developments. Today with Jean Paul Dalton, let’s talk about its value further to understand the role of businesses in an economy. Jean Paul Dalton is a well-known figure in the field of business that is why his wise words are worthy of time.

1. VALUE OF
BUSINESSES IN
ECONOMIC
DEVELOPMENT
Businesses are known to be
one of the valuable assets of
an economy as it provides
contributions and economic
developments. Today with
Jean Paul Dalton, let’s talk
about its value further to
understand the role of
businesses in an economy.
Large and small scaled
businesses are important
drivers of economic stability
and growth because they
provide vital services, goods,
and tax revenues that directly
benefit the community’s
health. They also generate
jobs, boosting the economic
health of the communities
where they are located.
Taxes are used to maintain a
city’s, state’s, or country’s
infrastructure - roads, bridges,
tunnels, public transportation,
libraries, and other public
structures and services, such
as police officers and
firefighters, all benefit from
the money raised from
citizens and corporations.
The region’s economic health
and its capability to sustain
businesses – particularly small
businesses – can provide
tremendous opportunities for
business ownership diversity
that would otherwise be
unavailable.
Communities and states that
encourage new business
development and assist with
business creation benefit their
citizens and residents by
providing products and
services and allowing women
and minorities to start and run
businesses.
Moreover, the economic health
and well-being of the residents
of the city, region, state, or
country in which such firms
operate are inextricably linked.
Profitable enterprises promote
economic health, which in
turn improves individuals’
quality of life.
JEAN PAUL DALTON
The Small Business
Administration states that
nearly 99 percent of women-
owned firms are classified as
small businesses. Considering
that women account for half
of the population and nearly
half of all workers, you can see
how significant small
enterprises may be for women
and those who work in them.
The number of businesses is
also significant; the greater
the number, the better.
Economic diversification
reduces the region’s reliance
on a single sector or industry,
allowing it to thrive regardless
of the business cycle’s ups and
downs better.