Benefits Of Entrepreneurs At The World - 1318 Words

Julia Kowalski Mr.Flynn English 4, Period 8 30 January 2015 Benefits of Entrepreneurs When people take a close look at the world today they can see an abundance of producers and consumers. Consumers buy and producers sell, but there is more to it than that. People have to work and so the producers can sell, producers must supply so that the consumers can buy and so on. It is truly a never ending chain reaction of buying and selling. In order for the economy to run, people to live, and so many other crucial parts of a daily life, one things has to keep growing, and that one thing is entrepreneurship. Entrepreneurship is when one takes on a personal goal or businesses plan that can benefit all. These benefits are shown through, enhancing†¦show more content†¦Along with these varied options, the consumer also achieves the benefit of lower prices (Brown). When two companies sell the same product or service it forces either company to lower their prices, and even in some cases can cause both companies to lower prices. Competition can only result in benefits for t he consumer, whether it is by lower prices or a variation in products. Entrepreneurs must make themselves adaptable to every market. One way this can be achieved is through variation in products and creating new and unique ideas. These small businesses must come up with these ideas and products to push other competition out and to bring new customers in. â€Å"Most of the innovations of the past 100 years, electricity, the automobile, the airplane and even the computer, that have re-made the economic landscape have come from the minds of entrepreneurs† (Kritikos). All of this intense need to get ahead in the game has positive effects on the consumer and on the market. This obviously benefits the consumer because of the new tools that can be created to make life easier. This also can benefit the economy because money is being put into it through the buying and the making of the products. If successful with creating a new product a small company can start to expand. When most small businesses expand they look to develop in to a company that can bring in a larger revenue (Brown). This brings good news for the rest