Who benefits from entrepreneur wealth?
Answers
Answer:
Economic Development
They not only invest their own capital but also attract capital from the market. Entrepreneurs make productive use of these savings, they mobilize them and turn them into a productive resource. This pooled financial resource or capital is the basis of wealth creation in the economy
Answer:
Entrepreneurs Add to National Income
Entrepreneurial ventures help generate new wealth. Existing businesses may remain confined to existing markets and may hit a limit in terms of income. New and improved products, services, or technology from entrepreneurs enable new markets to be developed and new wealth to be created.
Additionally, increased employment and higher earnings contribute to better national income in the form of higher tax revenue and higher government spending. This revenue can be used by the government to invest in other struggling sectors and human capital. Although it may make a few existing players redundant, the government can soften the blow by redirecting surplus wealth to retrain workers.