Entrepreneurship has grown to become a topic worth discussing especially in countries where unemployment is lingering. Successive governments have tried and are still trying, by all means, to ward off the increasing rate of unemployment but their efforts seem rather otiose. In this ever-growing world of possibilities, many people are buckling down to provide solutions to unemployment by exploring entrepreneurial initiatives due to the satisfaction derived from it.
Entrepreneurship presents countless unmapped benefits to individuals including workers and even students which could be leveraged on for the development of a country. What then is entrepreneurship and its benefits?
Entrepreneurship basically refers to initiating and managing a business venture. Individuals who initiate and implement a business idea are known as entrepreneurs. It is undeniable that entrepreneurship poses several risks that are unguaranteed. However, it may surprise you to know that the benefits of starting your own initiative overshadow most of the problems encountered.
Here are four amazing benefits you could derive from being an entrepreneur.
1. One of the greatest benefits of entrepreneurship is that it is an avenue for job creation. Entrepreneurship provides employment for the entrepreneur and other individuals who may come on board as workers to help implement the business idea. In a business venture, individuals may be employed in either the production sector, marketing sector or any other available sectors. It is indisputable that employment aids economic growth which accelerates development.
2. Again, entrepreneurship is one of the surest ways for income generation. It is rather unfortunate that the minds of most tertiary graduates are geared towards the usual routine- being employed rather than starting their own business. Apparently, there is no crime committed for that. However, the best of all is starting your own initiative. It is obvious that the sacrifices to be made are indeed numerous. The truth is, every good thing takes sometime before it is manifested. Bill gate and the likes are testimonies to the benefits of entrepreneurship.
3. Aside from these benefits, entrepreneurship also creates a platform for independence. Most employed individuals seldom work in a peaceful working environment, mostly because of a lack of freedom. The uncompromising demeanor of most proprietors obstructs workers to give in their maximum and this affects productivity and efficiency negatively. Nevertheless, entrepreneurship offers individuals an opportunity to work under limited pressure as compared to the former. Also, entrepreneurs could learn so many other skills and explore diverse banks of knowledge to help their personal growth and development as well as contributing to the development of their organizations.
4. Lastly, another captivating benefit of entrepreneurship is that it allows individuals to improve their managerial skills. One of the secrets to a growing business is the abilities of entrepreneurs to explore, learn, and implement new strategies and this is the opportunity entrepreneurship can give. This is because entrepreneurs man their own businesses and as a result have ample time to work patiently and appropriately in order to come up with the best solution. Due to this, in the process of providing solutions, they are exposed to learning different skills at the same time to help their business.
Speaking to Selasi Fiawoyi, a sports blogger with Sahara Football, he said
“I have been able to learn new skills that I hitherto did not have because of where I found myself, that is, video editing, photography, interviewing and many others. Money management is also something I have benefited from. Because as an entrepreneur, you have to be disciplined with your spending. After a while, though I had someone to help me out with that, sometimes outsourcing those aspects is best…. You can’t handle it all.”
In summary, entrepreneurship is one of the best solutions to unemployment in every country. It allows individuals to contribute to national development by providing solutions to many of the problems in existence in society. Governments and individuals who are campaigning for entrepreneurship are already receiving salutary effects. Do not be afraid to make a bold step today. Come out with your idea and change the world the best way you can.