How does entrepreneurship promote economic progress to the people, family, and community?

1 Answer

Answer :

An entrepreneur is someone who has what he/she believes is a good business idea and is prepared to take risks to put that idea into practice. Should the idea take off, the benefits will not just be to the entrepreneur. For one thing, the idea could be for a better way of doing something, or for a machine that helps people to be more productive or fulfilled in some way. A new business - if it succeeds - will probably employ other people and therefore put money in their pockets. There will probably be a need to buy in components or raw materials to supply the new process, thus bringing business to other people.

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