ADVANTAGES OF ENTREPRENEURSHIP

Every successful entrepreneur brings about benefits not only for himself/ herself but for the municipality, region or country as a whole. The benefits that can be derived from entrepreneurial activities are as follows:

1. Enormous personal and financial gain.
2. Self-employment, offering more job satisfaction and flexibility of the work force.
3. Employment for others, often in better jobs
4. Development of more industries, especially in rural areas or regions disadvantaged by economic changes, for example due to globalisation effects.
5. Encouragement of the processing of local materials into finished goods for domestic consumption as well as for export
6. Income generation and increases economic growth.
7. Healthy competition encourages high quality products.
8. More goods and services available.
9. Development of new markets.
10. Promotion of the use of modern technology in small-scale manufacturing to enhance higher productivity .
11. Encouragement of more researches/ studies and development of modern machines and equipment for domestic consumption.
12. Development of entrepreneurial qualities and attitudes among potential entrepreneurs to bring about significant changes in the rural areas .
    
13. Freedom from the dependency on the jobs offered by others.
14. The ability to have great accomplishments
15. Reduction of the informal economy
16. Emigration of talent may be stopped by a better domestic entrepreneurship climate.

Source : www.tsummit.org