Entrepreneurship is an essential aspect of our society. It
allows the growth of wealth and innovation within the economy and caused
economic growth within the middle and working classes. Without such movements within the economy,
capitalism as we know it will be severely affected.
“It has long been believed that the economies driving force
lies in large and established companies. However, it is now generally
acknowledged that new companies do the most to promote increased economic
growth. A recent multinational study shows a strong correlation between
entrepreneurship and economic growth” According to the Gem Report[1].
It is known that in the Australian economy around 70% of all
businesses are small to medium businesses that decided to become Entrepreneurs.
Although this isn’t an easy step and decision to make seeing as in most cases
the risks are weighed heavily, the Australian society has cultural tendencies
to lean towards Entrepreneurship rather than ‘climbing the corporate ladder’.
There are many advantages and disadvantages to this and they
can be discussed for days on end. But
most decisions to become an Entrepreneur are fuelled not by rational decisions
but rather with the sense of hope. Therefore the Entrepreneurship should not be
seen as a business decision, rather the overall economic position of the
community as a whole. For example, a high numbers of Entrepreneurs will indicate
a thriving economy, a motivated populace and a healthy country.
For these reasons we see that Entrepreneurs are more
essential than first realised by earlier ideologies such as communism and
fascism.
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