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‡ An entrepreneur is the combination of two
skills-an ideal person and a manager.
‡ There must be persons who have vision,
initiative and drive to utilise the resources.
These qualities and abilities are combined
only in entrepreneurs
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‡ Entrepreneur always looks for changes.
‡ He not only combines the factors of
production but also introduces new
combinations of factors.
‡ Responds to changes and exploits it as an
opportunity.
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‡ The entrepreneur allocates scarce
resources & co-ordinates the various
factors of production.
‡ He employs each factor in the right
proportion. He uses best technical
devices, division of labour etc. He tries to
eliminate waste in production.
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‡ It generates employment and income.
‡ Entrepreneurship helps to reduce the
unemployment which is the root of all
socio economic problems.
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The entrepreneurs can contribute much to
the growth of national income of a country.
‡ By exploiting natural resources, creating
wealth and generating employment and
income.
‡ A country is said to have achieved
economic development only when its
people enjoy a higher standard living.
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‡ Small scale enterprises is that they can be
started with less financial resources.
‡ It also helps in reducing concentration of
economic power in few hands.
‡ Economy grows along with
entrepreneurship.
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‡ Development of entrepreneurship helps to
increase production.
‡ Hence market also grows and expands.
Exports also go up.
u ESTIONS ?
THANK YO