Entrepreneurship is Necessary for Community
Recently, Bridge Space’s founder, Ben Rao , published a powerful article on LinkedIn showing how entrepreneurs are critical to your community. For non-entrepreneurs, it can be difficult to understand how entrepreneurship benefits them or the larger community. If you haven’t had direct experience with business-owners in the past, you may not see who entrepreneurs are, what value they bring, or recognize their contributions.
As a serial entrepreneur, Ben is no stranger to the effects entrepreneurship has on communities.
Here are a few reasons entrepreneurship is necessary for community:
1. Entrepreneurs have a broad array of expertise, passion, and industry knowledge.
They create, build, bring projects from the idea stage to reality. The beauty is that their motivations stem from various points – sometimes personal interests, professional experience, following through on a passion project, or filling a gap they see as a problem. No matter what, entrepreneurs are putting their own spin on solutions to problems.
2. Entrepreneurs (and startups) create a majority of the jobs in our communities.
There are thousands of companies with less than 50 employees. When you multiply those numbers together, you see a remarkable impact on the local economy. In addition to job creation, entrepreneurs bring enormous revenue into communities and increase the tax base, which has a direct relationship to our quality of life.
3. Entrepreneurs care about their communities.
Entrepreneurs offer improvement through engagement: they attend more networking events than mature companies and position themselves in the community more often than others. They get to know other community members as a way of vetting ideas, hearing what other people are doing, feeding off of energy, and making those “magical connections” to pull their business forward. Many startups also have important social and philanthropic aspects that their team uses to give back.
The community needs entrepreneurs; entrepreneurs need their community.
As the local economy benefits, the citizens benefit.
When innovation thrives, we all see the results.
Encourage your community and community leaders to embrace entrepreneurship. When you do, the positive impact on your community and quality of life will become clear and the value of your community will grow.
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