# BY Tajurba

Entrepreneurs- the cornerstone of a nation’s economic growth

Entrepreneurs are the builders of ideas, and ideas build a nation. India witnessed a significant transformation in recent years with the rise of entrepreneurs. None can deny the fact that with the boom in start-ups and rising percentage of entrepreneurship, the Indian market has become revolutionary by strengthening the economic growth of the nation. Who are Entrepreneurs, and why are they a boon to the nation? Entrepreneurs are the creators of ideas that generate the nation's wealth. An entrepreneur is a true leader leading the country's growth and development. In any developing country, entrepreneurship is significant to add assets to the nation. Hence an entrepreneur is the sovereign wealth of a country. With every entrepreneur's ideas, new businesses are developed, leading to market growth, which further brings resources and wealth to the country. Entrepreneurship is hugely connected to social advantages. It has evolved into a strategy for promoting social change within social justice and entrepreneurial frameworks. Still, it is distinct from the usual non-profit model in that it simultaneously pursues financial success and socially beneficial goals. Let us have a bird's eye view of the role of entrepreneurs in the Economy of a Nation: Escalation of Economic Growth: Entrepreneurs are the stimulation for economic growth. They seek opportunities to generate national income and wealth through commodities and services by converting latent and unused resources like land, labour, and capital. They contribute to raising a nation's per capita income and net national product, two essential meters of economic progress. Lead Innovation Endeavours: The spirit of entrepreneurship is to be the precursors of innovation and bring about changes that bring opportunities and development in society and widely in the nation. Entrepreneurs are the epitome of change who create new ideas to develop new products and services, thus adding resources and benefits to the market. Only innovation brainstormed by entrepreneurs pushes a nation toward progressive changes to compete with the developments of the world. Effectuate Employment: Employment is one of the predominant factors of Economic development in a nation. Who generates employment? With one new idea rises hundreds of ideas, thus increasing the demand for manpower, which in turn is a blessing for the economic situation of a country. Entrepreneurship is all about creating more opportunities for people. When a new business is born, the entrepreneur aspires to grow and expand the business. This leads to new positions and vacancies in the economy. By issuing industrial securities, businesspeople mobilize the public's idle savings. Public savings invested in the industry lead to effective use of resources at home. For rapid economic growth, the rate of capital accumulation must increase. Thus, an entrepreneur is someone who creates more opportunities for the masses. Inspire and lead social progress: Whenever change happens, it happens to disrupt systems and creates new shifts. One of the most emerging forms of entrepreneurship today is social entrepreneurship. Entrepreneurs are today enabling the adoption of more progressive changes, which is resulting in breaking orthodox mind-sets and outmoded social practices. It represents a business that seeks to benefit financially and address societal issues. It fosters Social Change suitably aligning with social justice and entrepreneurial frameworks. Still, it is distinct from the usual non-profit model in that it simultaneously pursues financial success and socially beneficial goals. Potentiate living standards: The crux of entrepreneurship is to encourage convenience and enhance the standard of living of a particular section it targets. The entrepreneur is in charge of finding markets, figuring out what is required, seizing chances, formulating plans, and putting people in place to achieve the goals. Entrepreneurs fuel economic growth. By finding solutions for prominent paint points of the masses, entrepreneurs contribute immensely to raising the standard of living of the general public and being the vehicles for improving the quality of human life and via sustainable entrepreneurship, that of the planet. Contribution to National Profit - Entrepreneurs have a more significant role to play in adding more to the National Profit. Every new venture is a source to bring in more wealth. The more innovation, the better the emergence of goods, services, and of course fresh and refined technology which paves the way for the boom of new markets. New markets indicate more wealth; New services create more jobs, and more jobs draw the path to higher incomes which is nothing but high tax revenue and expenses and the entire process facilitates a healthy national income. Conclusion: Every Economist believes Entrepreneurship to be one of the most vital tools for production and thereby the offspring of Capital. Every risk an entrepreneur picks is a chance created for the robust economic growth of the country. India today is seen at the peak of rising start-ups and new businesses with new frameworks and schemes. It is indeed an optimistic picture where the government as well as the people are heading to welcome entrepreneurship as the backbone of the nation's growth and progress.