Entrepreneurship has served as a key factor in the development and growth of several regions around the world. Employment opportunities created by entrepreneurs have helped in dealing with problems related to poverty, regional imbalance, etc. Especially developing countries, which are majorly dependent on agriculture, are trying to provide a boost to entrepreneurial ventures. It is important to understand the growth path of an enterprise. The study of growth prepares the owners/mangers to take strategic decisions and lay out expansion plans. Entrepreneurs boost economic growth by introducing innovative technologies, products, and services. Entrepreneurs provide new job opportunities in the short and long term. They accelerate structural change by replacing established, sclerotic firms.
Importance of Promoting Entrepreneurship
When an economy is doing well, there is less incentive to encourage new, entrepreneurial firms. When people and firms are making money, why take a risk on something new and untested? Entrepreneurs often challenge incumbent firms, and while this might seem undesirable, unchallenged, established firms tend to become complacent, content to take their profits without investing in research and development to improve their business. These stagnating firms are the first to suffer when imports arrive—withering rapidly, unable to respond to the competition. Thus, challenging incumbents to do better during good economic times is a benefit of entrepreneurship.
Entrepreneurs are equally, if not more, important when the economy is doing badly. When unemployment is high and the economy is contracting or stagnating, dynamic entrepreneurship could help turn the economy around. By developing novel products or increasing competition, new firms can boost demand, which could in turn create new job opportunities and reduce unemployment.
Business Talkz is presenting awards for the Entrepreneurs with most innovating ideas.
AWARDS WINNERS ENTREPRENEURS 2021 DECEMBER
• Hari Charan P, CEO of LearnClue Edtech Pvt Ltd Hyderabad - Most Emerging Entrepreneur from Hyderabad
• Vignesh Ragupathy, CEO & Founder of BigWigs Technologies - Dynamic Entrepreneur from Tamil Nadu
• Pernedi Koteswara Rao, Managing Director of Koti Infotech - Most Dynamic Entrepreneur from Hyderabad
• Gopal Agrawal, Founder & CEO of Odisha Diagnostics - Most Emerging Entrepreneur from Odisha
• Mr K.Vijayraj, Founder & CEO of Alonzo Infotech - Most Emerging Entrepreneur from Tamil Nadu
• Mrs.K.Suganya Vijayraj, Co-founder & Managing Director of Alonzo Infotech - Most Emerging Women Entrepreneur from Tamil Nadu
• Sagar Hotwani, CEO & Founder of V.S.FURNITURE & Co. - Most Emerging Entrepreneur from Pune
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