Entrepreneurship for Engineers Individual Activity

Entrepreneurs are
people who set up a business. An entrepreneur can be someone who sets up their
first online store or just a start-up freelancer. Entrepreneurs are the world’s
biggest transformers. For example, Bill Gates and Steve Jobs, making computer
parts, imagining the world differently. Entrepreneurs are often superhumans. They
are smart, creative and ambitious. They create jobs for people, create a change
in the system, and give back some of their fortune to the society to grow.

Entrepreneurs contribute
to their country in many ways.  Let’s
take a look on how they contribute to the economic development of a country. Entrepreneurs
create new businesses according to people’s needs and demands. Thus, they
create an opportunity to provide a product or service don’t exist at the
moment, or otherwise available. Economists refer to these entrepreneurs as “opportunity”
entrepreneurs to differentiate them from those who create businesses for lack
of better work opportunities. These “opportunity” entrepreneurs launch new
enterprises according to market needs, are the key players in fostering
economic growth in a region. More goods and services will be at their disposal.’

When entrepreneurs
open a new business, they need to hire employees. They create jobs for others
and these opportunities lift and support the community through increasing the
quality and standard of the employees’ life. Thus, the employee can meet his or
her needs easily. The government of India has launched great programs such as “StartupIndia”
to promote and encourage new entrepreneurs, and “Make in India” program which
attracts foreign companies into their economy. All these creates lots of job
opportunities, and helping in augmenting their society’s standards to global
level.

Moreover,
entrepreneurs bring up a balanced regional development by setting up businesses
and industries in less developed and rural areas. The growth of business in
these areas leads to improvements of the infrastructures such as better roads,
stable electricity and water supply, airports, rail roads, schools, hospitals,
and other public or private services. Every business that set up in backward
areas leads to both direct and indirect jobs, helping in lifting regional
economics in many ways.

Nevertheless,
economic development doesn’t always turn into community development. Community development
needs infrastructure for education and training, healthcare and other services.
For example, we need highly educated and skilled workers in a community to
attract new businesses. Azim Hashim Premji, the Chairman of Wipro Limited, is a
good example on how this kind of community development can be promoted. Azim
donated Rs. 27,514 crores to promote education through Azim Premji Education.