WHAT IS AN ENTREPRENEUR?

An entrepreneur is an individual who creates a new business, bearing most of the risks
and enjoying most of the rewards. The entrepreneur is commonly seen as an innovator,
a source of new ideas, goods, services, and business/or procedures.

HOW ENTREPRENEURS WORK

Entrepreneurship is one of the resources economists categorize as integral to

production, the other three being land/natural resources, labor and capital. An
entrepreneur combines the first three of these to manufacture goods or provide
services. They typically create a business plan, hire labor, acquire resources and
financing, and provide leadership and management for the business.

Entrepreneurs commonly face many obstacles when building their companies. The
three that many of them cite as the most challenging are as follows:

1. Overcoming bureaucracy
2. Hiring talent
3. Obtaining financing

WHY FRESHLY GRADUATE STUDENTS CHOOSE

ENTREPRENEURSHIP

The first steps on the road to post-

graduate employment can be a
challenge, and finding work that makes
use of a degree is often even tougher.
The market is incredibly competitive,
especially for highly-skilled positions,
and while graduate employment rates
have risen throughout the past decade.
The countless graduates taking the first steps towards launching their careers, more
and more have moved away from seeking employment in favor of establishing small
businesses of their own. This new wave of entrepreneurial ambition has likely been
triggered by a combination of factors, from the economic downturn, to the growth of
ecommerce and digitation.

“A desk is a dangerous place from which to view the world”

John Le Carre

Fire Your Boss, Do What You Love and Work Better to Live More. Mostly startups are
based on this theory. The people who are passionate and creative they focus on
establishing their own business. To give this world something new. Historically it is
being noticed that some entrepreneurial startups change the world like Facebook,
Microsoft, SpaceX and Apple. These were the startups who directed the world into new
era of digitation and space.
HOW GLOBALIZATION IS AFFECTING ENTREPRENEURS

INTRODUCTION

Globalization has been a boon to businesses and consumers. globalization has given

us the opportunities that increasing economic freedom has provided us with over the
past decades. Globalization provides new business opportunities for companies all over
the world and, at the same time, puts some new challenges they need to adapt to in
order to achieve success in the market.

Globalization works hand in hand with entrepreneurship in three important ways.

First, globalization facilitates technology entrepreneurship by fostering the rise of
innovation ecosystems. This might include engagement between new ventures, and
large multinational enterprises.

LOCAL ADVANTAGES
International chains may set up shop in a neighborhood and capture the market with
low prices. Often they accomplish this by using cheap labor overseas and selling
products at low profit margins. As an entrepreneur, you can fight back, however.
Locally owned stores can offer products that large chains do not. For example, a
restaurant can offer local foods that large restaurant chains cannot offer. A boutique
clothing shop can sell garments designed and made locally. To harness their global
purchasing power, large chains cannot afford to buy and sell local specialties.

GLOBAL ADVANTAGES

Small businesses can compete globally because they can sell locally made products
through the Internet. Shipping companies routinely accommodate small businesses by
offering package shipping to countries around the world. In addition, small-business
owners can purchase products for resale from overseas markets, thus gaining a
pricing advantage that was once reserved for global conglomerates. Small businesses
also benefit from favorable foreign exchange rates when they buy in countries where
the dollar is worth more than the local currency.

E-COMMERCE

Traditionally, word of mouth helped marketing for small businesses, but in the
globalization era, small businesses make their presence felt online. Thanks to the
Internet, small companies reach geographically dispersed customers that they
normally could not reach. Customers expect consistent, reliable and prompt delivery of
goods and services. E-Commerce allows companies to differentiate themselves from
competitors by providing better and faster service to customers.