Why Is Entrepreneurship On The Rise?
According to latest statistics, entrepreneurship is on a massive rise these days. The figures show that in the US alone, 340 out of 100,000 adults start a new business every month. These figures are the highest they have ever been in more than 10 years. If this continues, entrepreneurs may pave a way out of the difficulties the economy has been facing.
But why is entrepreneurship suddenly on the rise? Analysts suggest that the sudden rise may be linked to pro-entrepreneur tax changes that have been set into place lately. But ask entrepreneurs and they will give you different reasons for their sudden interest in business.
For one thing, some people believe that entrepreneurs have a growing status today. We seem to live in a culture and society that looks highly upon entrepreneurship and where entrepreneurs are able to find a lot of support and assistance than they did before. This support and assistance may come from different sources, including the government itself, private foundations, and the huge array of suppliers and manufacturers that sell to and are willing to take advantage of the individual networks offered by entrepreneurs. The Internet is also an invaluable resource, offering entrepreneurs to start their businesses from the comfort of their own homes. Due to the incessant rise that all these reasons combined have brought about, it has become quite trendy to be an entrepreneur, encouraging even more folks to join the bandwagon.
But aside from these obvious reasons, perhaps the benefits of being self-employed also have a lot to do with why entrepreneurship seems to be on an uphill climb these days. Here are some of these benefits:
1. Be financially independent.
One of the biggest perks of being an entrepreneur is to be in total control of your earning potential. Being financially independent allows entrepreneurs to earn and spend money the way they want, instead of letting their payday income control them.
2. Be your own boss.
Entrepreneurs also have total control over their schedule. Instead of being a slave to 8-hour work days, they can decide what to do with their time. If they want to take a little break, they can arrange for it without requiring somebody else’s approval.
3. Set your ideas free.
Entrepreneurs have a bigger opportunity to get their creative juices flowing and bring their ideas to life. Their business allows them to enact their vision without having to deal with all the red tape in the corporate world. In other words, they can call their own shots, and they can enjoy the freedom to create something their own way.
4. Embrace the challenge.
Many people find corporate work routinely and monotonous, but entrepreneurship is the complete opposite. There are challenges in running a business that you won’t encounter while you’re sitting on a desk working for somebody else. This challenge is actually what attracts many young professionals to entrepreneurship. The thought of being made for something more than being paid to work never fails to appeal to their entrepreneurial sides.
All these benefits, and many more unmentioned ones, all equate to a high sense of personal fulfillment, which is the ultimate reward for the entrepreneur.