Entrepreneur

An entrepreneur is defined as “a person who starts a business and is willing to risk loss in order to make money” or “one who organizes, manages and assumes the risks of a business or enterprise.

Entrepreneurship

Entrepreneurship is said to be a combination of both novelty and risk-taking.  When a person is going to start his enterprise, no one can predict if it will go well or not. A large number of people avoid initiating their enterprises and rather go for different jobs to secure their living just because they are afraid where the business will take them.

Boost the Economy

the economy of a country mainly depends upon the businesses being run in the country. Entrepreneurship not only supports the growth rate and economy of the country but also offers job opportunities for people. With the help of entrepreneurship, benefits are provided to the economy and society through employment and growth rate.

Entrepreneurship developments have the capacity to introduce new jobs through new business endeavors. It provides work and utilizes the labor, enhances resources to increase production, boosts the GDP and reduces the dependency upon welfare programs rather utilize people to help boost the economy of the nation.

Market Development

Entrepreneurship not only helps the entrepreneurs improve their living standards but also helps other related businesses. It provides market innovative ideas on how to improve productivity and helps the market to develop and expand vigorously.

Future of Entrepreneurship in Pakistan

With the world being globalized, everything has been reshaped. The future of entrepreneurship in Pakistan seems really bright as the youth in Pakistan is 64% and the young generation is all set to take risks with their enthusiasm and innovative ideas. With the help of youth, Pakistan aims to reduce youth unemployment and increase economic sustainability by enhancing their understanding of entrepreneurship and leadership qualities.

Characteristics of Successful Entrepreneurs

Risk Takers Self-Confident Self-Motivated Flexibility Passionate Understanding of how to deal with others Understanding of what to offer Know how to mobilize Money management skills Stays up to date

With the help of successful entrepreneurs to assist the youth in making them understand how entrepreneurship work and how to handle the profit and loss, Pakistan can produce a number of entrepreneurs because the youth of Pakistan is enthusiastic enough to work with zeal and zest and make the country progress economically by leaps and bounds.