Entrepreneurs Help Grow Indian Economy: 10 Ways How?
As these enterprises grow, they keep providing direct and indirect employment opportunities to many more. In this way, entrepreneurs clear the path towards economic development of our country.
8. Balanced Regional Development
Entrepreneurs promote development of industries. They help to remove regional disparities by industrializing rural and backward areas. The growth of industries and business in these areas lead to a large number of public benefits like road transport, health, education, entertainment, etc. They help to reduce the problems of congestion, slums and population in cities by providing employment and incomes to them. They help to improve the standard of living in sub-urban and rural areas.
7. Reduces Concentration of Economic Power
Industrial development normally leads to concentration of economic power in the hands of a few individuals which results in the growth of monopolies. Entrepreneurs contribute towards the development of society by reducing concentration of income and wealth.