Importance Of Entrepreneurship

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Entrepreneurship is important in today’s world. It is a catalyst for economic change and development. In general, I can explain that the role of entrepreneurship in economic development is not limited to increasing the per capita rate of production and income. It also involves changes to the structure of business and society. These changes are   accompanied by growth and increased production.  One theory of economic growth describes innovation as the main key to economic development in building new products or services in the market. Innovation activity is also a motivation for capitalists or investors to invest in new opportunities that are created. 

Entrepreneurship through the process of innovation creates new investment in the business world, where it will cause the economy to grow, new jobs to be created and reduce the unemployment rate. Entrepreneurship through the process of creativity and innovation creates new products and provides services to meet human needs. It provides a product or service that the user needs. In producing good products and services, they will find better ways to maximize resources and reduce waste. With this, the community will get better products and services at a cheaper price. Specifically, the importance of entrepreneurship is as follows:


The country’s economic resources and income are greatly helped by entrepreneurs because they are the ones who will move economic development in the country through the businesses they run. The field of entrepreneurship is very wide and extensive. It is not limited to the country. But it can be carried out and developed internationally and anywhere.  When the business activity has been stabilized, it is able to attract many foreign investors from various countries to invest in the business that the entrepreneur runs. This will increase the flow of income into our country through foreign investment from abroad. 


Entrepreneurs offer employment opportunities to the local community at home or at work. Employment opportunities exist because every established business requires human resources to carry out business activities. This situation can indirectly increase the unemployment rate.  The work done by the local community will increase the income of the population as a whole. The income earned will be used to buy their needs. The standard of living of the community will improve and the comfort of the community can be increased.


The success of an entrepreneur in the field of business he ventures into will be a source of inspiration for other entrepreneurs to venture into and develop their respective businesses. The contribution given by entrepreneurs to the community will open their eyes and give them the motivation to venture into the field of entrepreneurship. Entrepreneurship can also be used as the best alternative job, especially for university graduates who find it difficult to get a job in the private or government sector. A person’s success in the field of entrepreneurship will be an example for graduates to follow. The nature and characteristics of an entrepreneur such as being creative, daring to take risks and oriented towards the future can produce good new entrepreneurs. 


Large organizations usually require support industry services to ensure operations and business activities run smoothly. Kweujudan this support industry can accelerate the growth of the Bumiputra Trade and Industry Community through the involvement of the Bumiputra people in the field of business.


Entrepreneurs can carry out or carry out social responsibilities such as handing out charitable donations, carrying out social activities and building infrastructure. All these activities can improve the standard of living of the community. In addition, entrepreneurs are also encouraged to support government policies such as the New Economic Policy (DEB) which aims to reorganize society and eradicate poverty.

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