When thinking about the economy and jobs, most people think of large corporations hiring thousands and thousands of workers. However, entrepreneurs running small companies are important to this economy as they hire most of the employees in the United States. For this reason, entrepreneurs should be applauded by anyone who enjoys free markets and economic prosperity. In fact, here are five reasons why everyone should celebrate entrepreneurship.
Jobs: As mentioned, small business are still the backbone of almost every capitalist society. While some people insult job creators, they are making a serious mistake; without entrepreneurs, the economy will stay stagnant, and people will be out of work for a long time. For this reason alone, anyone who wants to see a thriving economy with a low unemployment rate should support entrepreneurs.
New inventions: While large corporations have difficulty in making innovations, this is not the case with a small company. In fact, many of the most important discoveries and breakthroughs have been from entrepreneurs. When going on the Internet and using a computer, a person should realize that this was made possible by entrepreneurs who saw the future. Without entrepreneurs making positive contributions to society, many would not enjoy the simple pleasures of life.
Taxes: While most people do not like taxes, they know it is necessary. In fact, entrepreneurs pay more than their fair share; this helps local, state and federal governments fill their coffers and pay for vital services. While larger corporations hire high-priced lawyers who can help it avoid taxes, most entrepreneurs do not have this advantage and often pay a high amount of taxes.
Respond: When society, or a group of people have a need, a smart entrepreneur will jump in and offer a solution. We see this again and again whether it is a new drug on the market or an electronic device. This is the most efficient and cost-effective way for consumers to get what they want. One must remember when they use a new computer program or drive a car that an entrepreneur made this possible.
Initiative: When the economy suffers, it takes a lot of hard work to recover and get back to old times. While government spending does nothing and large corporations only care about the next quarter, entrepreneurs are thinking about the future and ways to improve life for everyone. This is clear at the end of every recession when new business owners and innovators create products and start companies. As this happens, people get back to work and everyone starts paying taxes and spending money on other products and services. Simply put, when faced with a stagnant economy, we need to look to our entrepreneurs for ideas and guidance to fix the issue at hand.
In reality, entrepreneurs are some of the most important people of most societies with free market principles. Of course, there are some entrepreneurship awards like those handed out by Mark Weinberger at Ernst & Youngs Entrepreneur of the Year Award. When looking to the long-term future, a government and its people should look to small business owners and investors who want to improve life for everyone on the planet.