Every individual living in this 21st century has to find out ways of earning to make sure of their existence in this Globe. And today, we are sharing our planet with 7 Billion+ people, which of course is going to increase even more by this time of next year. And what's interesting is, these 7 Billion individuals are in the same race with us, i.e earning more money to have a better life. But the problem being, the number of jobs that we can generate from our existing businesses is limited and competition is increasing day by day due to population and technological improvements, and as a result, unemployment is hitting the globe.
So, "Entrepreneurship & Startups" serves as a solution to a lot of these problems. And there are many reasons why this Startup concept is being very successful-
1. Change in Mindset: A few decades ago, being an employee of an organisation was seen as a good and secure way of earning and was accepted more. But this trend has changed with time and a lot of people have been looking for something different for their profession. We humans always look for adventure and entrepreneurship was serving exactly that in a professional level. In the 19th and 20th century, a lot of courageous people chose entrepreneurship as a carrier option and gained respect and wealth. These people set some great examples and encouraged millions to follow their footsteps.
2. Easy Access to internet: Internet is available to almost everyone and everywhere in today's time. And this has made business easier than ever before. Internet is a platform where you can make your business accessible to a huge number of consumers with very low cost and effort. For example, you can buy something from China, sitting at your balcony in the U.S. through Aliexpress, which is made possible only by internet. And maximum startups work only via internet or have grown their offline business heavily through the World Wide Web.
3. Government support: Every government supports startups & entrepreneurship. It is because, entrepreneurs not only provide themselves an employment, but also help another hundreds/thousands to get jobs. We often hear about programs like Start-up India, Start-up Istanbul, Start-up Assam backed by the governments. Entrepreneurs and startups serve the economy of a country by providing employment, infrastructure, capital, public/private services and achieving technological advancements. A good ecosystem of co-related startups in a country brings economical stability.
4. Public Demand: Rapidly changing public lifestyle results in change in needs. This factor indeed makes a great opportunity for new startups and entrepreneurs. For example, an online payment platform is more of a need in today's lifestyle than a decade ago. So entrepreneurs providing such platforms with better user benefits are welcomed by the public nowadays.
5. Availability of Investors: The venture capitalists and investors are available to the entrepreneurs in a way like never before. There are thousands of investors/venture capitalists out there to invest money in startups and make future benefits. A good product/service and a proper plan can make any investor put millions into a promising startup.
These are just a handful reasons behind the entrepreneurship boom of present time. Share your opinions about the entrepreneurship boom in the comment section below.
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