11920 - | | |   11923 - Reply from Mandy (USA) - 2011-01-21
| | Entrepreneurship is essential to many economies for several reasons. First of all, it is at this level that much creativity is found. People who are dissatisfied with corporate jobs can open their own business and make their own way. In addition, entrepreneurship encourages diversification of the markets. If an entire economy is built on just one industry, such as mining, then shifts in that one export will have drastic effects on the overall economy of a country. On the other hand, if an economy includes many sectors with several businesses in each, then a slag in business for one company will have little effect on the overall economy. Basically, the more businesses involved, the less of an impact one failure will have. Entrepreneurs are essential in providing this kind of diversification and competition. |
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