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Low rate loans, subsidies, tax reliefs and
construction of Special Economic Zones
(SEZs), etc. are some of the methods
by which governments encourage entrepreneurial activity. It is so, because entrepreneurs not
only generate profits for themselves but also help
the economy and the government to deal with
several kinds of social and economic issues. They perform financial exchanges, pay taxes,
generate employment, produce the necessary goods
and services, etc., in an economy. Hence it
becomes quite essential for everybody to study the
factors which affect individual career choices.
These factors can be family backgrounds, social backgrounds, government facilitations or
peer effects. Among all these factors, the effects of
peers are the most decisive factor that persuades one
to look for entrepreneurship as a career choice.
Bill Gates, Warren Buffet, Michael Dell and Steve Jobs
all had been doing jobs before starting their own multimillion dollar businesses. This could
mean they had been influenced by someone or something at their workplace that must
have persuaded them to start a business, and today
they have earned their places in history. Their
earnings have reached astronomical heights and they
are also generating employment in the thousands every year. In this way they are lending a
helping hand to the economy, society and the
governments of the various nations where their
businesses exist.
Good entrepreneurs are the lifeblood of any country. They are the people who start
ventures and provide employment to other people too
in the process. Indirectly, they help those
countries in solving their unemployment issues to
some extent. This is the reason why different
countries of the world promote entrepreneurship by different ways be it providing loans,
giving subsidies or reducing taxes. In other words,
they believe in the following process
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