5 Major Roles Of Entrepreneurs In The Society

You are about to read the 5 major role of entrepreneur and their impacts on society. No doubt, entrepreneurship is the hub in the wheel of developmental process of any country. This is why governments at various levels are contributing towards the promotion of entrepreneurship in their society.

This well-detailed post has been written on the role of entrepreneur in the society and has been compiled to help you understand  the role of entrepreneur easily and fast. Although, there are five (5) basic ways through which the society feel the impact of entrepreneurs. Check it out! 👇

5 Roles of Entrepreneurs in The society

1. SPONSORSHIP

Most business people sponsor at least one candidate for higher education, especially a child in an orphanage. In short, many orphanage homes are backed up by these business people. The scholarship is given to a poor student for him or her to make available better educational opportunities.

2. DONATIONS

Here is one of the reasons why entrepreneurs are so important to society. Let’s look at this aspect, a businessman or woman may decide to donate car or a lot of money for charity purposes. From their earnings, they would like to assist the less privileged and also improve their standard of living.

3. ADVISERS TO RESPECTIVE GOVERNMENT

More often than not, the government seeks the advice of successful citizens on some social and economic activities. Business is important for the growth & development of a nation. Thus, a successful business person is an asset to the society. He or she can contribute to the wellbeing of a society in diverse ways that improve the living conditions of the people.

4. CHARITABLE INSTITUTIONS

A businessman or woman sets up various educational, medical, business related courses & vocational training institutions to provide the less privileged with benefits that they cannot afford. In some cases, the fees may be less or forgone in the case of a meritorious student. Even hospitals are also run by these charitable institutions. Entrepreneurs help in training and development of manpower needed by the society.

5. WELFARE PROGRAMS

Business owners financially contribute to various welfare programs. Some of which include: helping the physically handicapped, orphans, widows e.t.c

In times of crisis, they help by donating items such as clothes, medicine, roof, cooking utensils and others.

Apart from their contributions to the economic growth and development of the economy, entrepreneurs also help in creating job opportunities for the teeming population of any country.

That’s all. I have just explained all you need to know about the role of entrepreneur. Hopefully, you found it valuable and will no longer ask questions like: “what is the role of an entrepreneur”, “what is the role of entrepreneur in business or economy”.