Entrepreneurship is one of the trending concepts in the world. Ideally, globalization and technological advancements have led to increased number of millionaires. Essentially, everyone wants to own a business or manage new innovative ideas. This is seen as the pathway to prosperity and wealth in this fast paced world.
Essentially, economic models have an impact on what happens in every economy. Entrepreneurs are also affected by market and demand forces around the world. This leads to new ideas and actions that are aimed at maximizing returns despite harsh economic conditions. Entrepreneurship has also led to empowerment of people around the world.There are many people who are active and knowledgeable about economic concepts. This arises from the fact that people are educated and would like to manage business. In the process of becoming entrepreneurs, people are empowered on what happens in different economic cycles such as booms and recessions. Ideally, all the knowledge and actions undertaken in any economy are affected by people’s perception of the economy. During the economic meltdown of the United States in 2009, people feared buying houses. This is a perception that came about due to the economic challenges affiliated to owning a house in the States. Ideally, this economic is not only restricted to men alone; even women and youths are becoming empowered. Entrepreneurship has led to increased involvement of women and the youth in economic issues. In the past, the most prominent entrepreneurs were involved in the manufacturing or in the industrial sector. Additionally, majority of the entrepreneurs were men. This is partly attributed to the fact that industrial revolution was the in thing and men were considered dominant to the female counterparts. However, the advent of technology and globalization has led to a new shift in the way people think. Women are increasing involving themselves in entrepreneurial activities. Additionally, the youth are also involved in entrepreneurial ventures worth billions. Case in point is the popular social networking site, ‘Facebook’. All in all, the internet and globalization has led to many entrepreneurial activities thus leading women and youth empowerment.
Entrepreneurship has also led to increased empowerment about sustainable development. In every country, people are increasingly talking about the green revolution. Ideally, people want to use products that are eco-friendly. In this regards, many entrepreneurs have been associating themselves with the green revolution. It is necessary to note that recycling business are increasing becoming part of every household. Recycling and waste management have led to a dynamic shift in the way people shop or handle waste. Whenever you go to the supermarket to buy groceries, the supermarket packages your products in a recyclable bag. Similarly, government authorities have installed waste bins in most of the cities. These are aimed at ensuring that people do not litter. Entrepreneurs have taken up the cue and created companies that convert waste bottles into meaningful products.
Economic empowerment of entrepreneurs is a continuous concept. It involves a lot of learning and evaluation of concepts. Essentially, all entrepreneurs understand that making it in any entrepreneurial ventures is not an easy task. You may be reading thinking that tomorrow you will wake up and create the next big thing. Well, here is the truth, you have to include a lot of hard work in the idea you have. Keep trying.
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