An entrepreneur is a person with a positive mind who with his optimistic attitude and dedication set up his own enterprise.
He uses his technical knowledge and his human relation abilities towards the success of his enterprise. Characteristics and Role of an Entrepreneur in developing a nation are briefly explained below:-
Characteristics Of An Entrepreneur
- Administrative capabilities: – He is the person with the Administrative capabilities, he knows how to get things done by the another person without hurting their feelings or their self-respect.
- Creativity: – An entrepreneur should have a creative thinking, he should always try to create something new for the better life of general public.
- Human relation abilities: – An entrepreneur may have to deal with lots of people in a day, he should know, how to get things done by other people without hurting their feelings. He should always maintain good relations with his customers.
- Foresight: – He should possess a great vision, he should be able to grasp even those opportunities, which other people are unable to see. He should be able to see the future of his enterprise by analyzing his present and past activities.
- Technical knowledge: – Entrepreneur must have some technical knowledge, if not technical knowledge can be acquired easily if tried.
- Secrecy: – He should be able to guard his business secrets, He should choose his partners properly and carefully and should try to maintain good human relations with them.
Role Of An Entrepreneur In Developing A Nation
- Employment generation: When an enterprise is set up in a region, it require some people to work for it, as a result when an enterprise is set up in any region it automatically generates employment for that region.
- To meet the increasing demand: Small scale industries can meet a substantial part of the increased demand for consumer goods and simple producer goods because they can be easily set up.
- Balanced economic development: When an enterprise is set up in any backward region, it will create job opportunities for the people of that region, which will improve the financial conditions of these people, hence improved the overall conditions of the backward regions.
- Better utilization of resources: Small scale industries facilitate mobilization of capital and skills which often would remain inadequately utilized.
- Self-employment: Small scale industries can be easily set up, and anyone with talent and little capital can start his own business
All these points explain to us that Entrepreneurship will improve the financial conditions of the people and hence will improve the economy of the nation