How can an Entrepreneur accelerate a country from dependency to self resilient ?

Abdul Majid

Business Chief is always an entrepreneur, who investigates for objectives and puts them into effect in fostering economic growth and advancement. Economic evolution of a nation is based on Entrepreneurship.

Developed economy is relatively different in disposition from developing country.

As the whole world is ‘Global Village’ and the modern period is an era of Entropy; this globalization brought change almost in all aspect of life. Purposeful human actions deliver countries economic growth. This growth is highly dynamic process by the trend of products needed.

Entrepreneurs are integral part of developing country who are competent to consider new opportunities for bailing out the low income and poverty. Entrepreneurs and helping government can change a developing economy in developed economy.

Entrepreneurs are noble source of direct and indirect jobs for most of citizens without much of government. involvement. Entrepreneurs play effective role in reducing unemployment, which is chronic problem in India.

Such entrepreneurial development activities can benefit India through well processed and structured businesses of developed countries like USA,UK and Japan.

Promotes Wealth Configuration
Entrepreneurs mobilize the idle reserves which lead to capital configuration. The funds which are used by entrepreneurs is a blend of their own and borrowed. This leads to erection of capital which is very essential for growth of our country.

Small Business idea effectiveness.
Great effectiveness is major quality of the small and medium ventures which is missing in India. This quality of potency generates in deep rooted nature of the small business. The structure of small and medium firms is less complex than that of large companies and therefore we should facilitate faster and smoother communication and decision- making. This permits for the greater flexibility and mobility of small business operation throughout the nation.

Balanced Cost Effective Development
Small business upgrading needs relatively less investment and therefore can be easily tackled in rural and semi-urban areas in every state. This in turn creates extra employment in such areas and averts migration of people from villages to cities. Most of the people are residing in the rural areas, therefore, more of our development programs should be directed towards this sector. Small setups use local resources and are best suited to villages and underdeveloped sector
The rise of industries and business in these areas lead to a huge number of public benefits like transportation , human fitness, skill development, entertainment, etc… Establishment of many industries leads to more advancement of backward areas and thereby promotes balanced regional development.

R & D in Enterprises
Entrepreneurs need to be innovative for survival and better performance in all aspects. It is believed that smaller firms have a relatively higher necessity and capability to innovate. The smaller firms do not face the constraints imposed by large investment in existing technology. Thus they are both free and compelled to innovate.
Entrepreneurship development is accelerating the pace of small firm’s growth in India. An increased number of small firms are expected to result in more innovations and make the Indian industry compete in the international market.

Lavish Living Standard
Entrepreneurs play a important role in getting a better rate of economic development. Entrepreneurs are able to produce products at lower price and supply standard goods at lower price to the people as per their need.

Entrepreneurs are the main stores of national self-reliance. They look after manufacturing indigenous substitutes to imported goods which reduce the dependence on foreign soil. There is also a chance of exporting goods and services to bring foreign exchange for the Nation. In nutshell, the import substitute and export promotion, which ensure economic independence and the country becomes self-reliance.

Facilitates Overall Development:
Entrepreneurs work as accelerator for change which results in chain reaction. Once an enterprise is established, the process of industrialization is set in motion. This unit will create demand for various types of units required by it and there will be so many other units which require the output of this unit. This leads to overall development of an area due to increase in demand and setting up of more and more units. In this way, the entrepreneurs multiply their entrepreneurial activities, thus creating an environment of enthusiasm and conveying an incentive for altogether development of the area.

(The opinions expressed in this article are the author’s own and do not reflect the view of the or TMA Worldwide & images have republished with the author’s permission)

About the Author

Abdul Majid completed Bachelors in Mechanical Engineering from Jamia Millia Islamia and worked in upper management with different multi-national companies, Majid has great aptitude and management skills. He has a great tendency to make people comfortable in his company as soon as they have their first conversation with him, as he thinks that corporate interior is all about trust and results. He is a strong negotiator and helps his clients genuinely in their tough decision-making process using his expertise and experience.

He started Gallant as a small venture and acquired immense knowledge gradually, doing his own corporate projects; and then there was no looking back. Today, he has a firm command on Corporate interior and knows all the pros and cons of any and all kind of investments. He does all kind of residential Interior too.

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