According to Sheshan.G entrepreneur’s
contribution to the economy is of immense value, he or she is indispensable to
the economic growth of the country. His or her goods and service are valuable
to the overall development of the society (Sheshan.G, 2015). People need their
goods or service to fulfill their own needs or wants. In another word which
means that, they serve our life better. Each one of us are the consumers for
our society nowadays. Therefore, the number of consumer are increasing yearly
even in developing or backward countries.
Entrepreneurs plays the important
roles in generating products or service valuable for the comfortable and
luxurious lifestyle of consumers. In directly, entrepreneurs play the vital
roles in the growth of economy and development in a country.
Ways Entrepreneurs Contributed to the Company
According to traditional models,
entrepreneurs create new businesses in response to meet needs and demands in
the market (Ed Sappin,2016). Therefore, there is an opportunity to provide a
product or service that is not currently in existence, or otherwise available
(Ed Sappin,2016). One of the ways entrepreneurs contributed to economy
development of the country is by investment. The main reasons investment is one
of the economy development is because of entrepreneurs should invest what is
required by the society nowadays. Thus, economic progress is depended to
contributions of entrepreneurs. Entrepreneur will ensure the goods or service
that invest is to serve people life better in the same time fulfill their needs
and wants. Example of successful entrepreneurs in investment is Mark Suster. He
was founder of document management and collaboration software company known as
Build Online in 1998. In 2005, he sold it to publicly traded French service
company and at that moments, he founded a content management company known as
Koral Technologies, Inc. Then, he sold Koral Technologies to Salesforce in year
Another way entrepreneurs
contributed to the economy development of the country is by employment.
Basically, a successful entrepreneur by setting up various type of business and
establishment their business (Amitabh Shukla, 2009). At that moments,
entrepreneur will generate employment in the economy of the country. Entrepreneurs
create jobs and these economic opportunities uplift and support communities
through increasing the quality of life and overall standard of living (Ed
Sappin,2016). People in this society need job to meet their needs and wants and
this is the major contribution that an employer can provide income to their
employee. Tan Sri Tony Fernandes founder of AirAsia is one of the successful
entrepreneurs contributed economy development of the country by employment. He
owns 17,000 employees in 2016.
In addition, there are entrepreneur
provide various type of goods and service to consumer known as diversity in
products and services. They provide
consumer more choices to compare as consumer would like to have a products or
service which can meet their desire at a reasonable rate which consumer can
accepts. Charles and George Page, founder of Nestle company is one of the
successful entrepreneur in diversity of products and services.
has made it everything possible, entrepreneur led businesses to expand into
regional and global markets.
When new businesses export goods and services to nearby regions, these
enterprises contribute directly to a region’s productivity and earnings. This
increase in revenue strengthens an economy and promotes the overall welfare of
a population. This kind of entrepreneur is entrepreneur who promote
international trade by selling their products abroad. This type of entrepreneur
would like to have a wider market, who bring more consumer to purchase their
products or service and make higher profits (Amitabh Shukla, 2009). Example for
this kind of entrepreneur is founder if Alibaba company, Jack Ma. The new
market of Alibaba company is Korea, Malaysia, Hong Kong, etc.
Lastly, an entrepreneur made much
contribution to the national exchequer and national economy known as
entrepreneurs who contributes to gross national product. Prosperity of country
is depended on GNP. As summaries, the higher the goods and service provided by
the country, the higher the GNP of the country due to the GNP is calculated
based on the total number of goods and service available of the country.
Example of country with higher number of GNP is USA with own 32.9% of the
global GDP, second is Japan with 2.09% of the global GDP.
As summaries from above paragraph, we can conclude that
entrepreneur plays is one of the essential roles in economic development of a
country as economic play important roles in development of a country.