Why is Entrepreneurship Important?
- Entrepreneurship: the activity of setting up a business or businesses, taking on financial risks in the hope of profit. Entrepreneurship is on a huge decline between 2010–2014 only 165,000 new businesses were opened compared to 1992–1996 where it was at half a million, which means less jobs. We millennials are starting even fewer businesses than previous generations. This is not okay because we are the future. The question is why we millennials are too reluctant to start our own company. The answer may lie in this article which might be “The recent recession coupled with barriers such as regulations, taxes, and lack of access to capital needed to start and grow a company, is adding to their reservations.” Another theory I have might be our mindset because we are raised to go to college then get a job. I have always questioned why that is and like myself I can not be an employee I just can not work for somebody else. I have always told myself to never be the employee but to be the employer. Why should we care about this decline of entrepreneurs starting their small businesses is because “99.9 percent of all businesses in the United States are considered a small business and two out of the three new jobs are created by a small business.” This statistic might open your eyes now. Have you ever wondered why it’s so competitive to get a job that’s the reason why. We need to make sure people with great ideas feel like they can take their idea and implement them into a successful product, service, or job.
Let’s bring the conversation over to Women entrepreneurs who said women couldn’t do it?
Women are on the rise and they have been. They are “more ambitious and have been more successful than their male counterparts,” women are more optimistic and let nothing get in there way. To back up this claim is a revenue report data that states “Companies helmed by women entrepreneurs had 13% higher revenues than those run by men, and finished 9% above the average for all entrepreneurs surveyed.” This is incredible because everyone knows about the pay gap between men and women if women entrepreneurs keeps on increasing the pay gap will no longer be in existence. This is revolutionary because women historically have run behind men in business now the change is finally happening.
Not only does entrepreneurship create more jobs but it also puts a stop too ending homelessness and poverty.
You’ll ask how this is true and the answer is because entrepreneurs solve problems and then there is social entrepreneurs that solve problems that matter. The definition of a social entrepreneur. is the use of the techniques by start up companies and other entrepreneurs to develop, fund and implement solutions to social, cultural, or environmental issues. There has been discussion on how to end it and I think we finally have the answer according to this article “The idea of ending poverty seemed absurd a generation ago. Today, the idea has been enshrined officially in the United Nations Sustainable Development Goals or SDGs as something the world should achieve by 2030. ” This is great start to end something that has been around for decades. There are social entrepreneurs now that are making a change for example a company called One Heart World-Wide, a nonprofit that uses a grassroots approach to improving maternal and child health in Nepal and Tibet. It’s entrepreneurs like such that are making a change for the better. If you know anybody who has a brilliant idea encourage them into making that idea into a reality.