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Roles of entrepreneurs

Updated on August 21, 2017

Functions or the roles of Entrepreneurs

Roles of entrepreneurs
Roles of entrepreneurs | Source

Introduction

What are the roles of entrepreneurs in every country or society?

The entrepreneurs are the societal drivers. They drive the activities of every society to good. Without them, everything going on in our society will be dull.

Entrepreneurs in many societies have contributed so much to the development and growth of the societies in so many ways. The entrepreneurs are those who establish businesses with their main aims of making profits while managing their businesses. They are individuals who accept many sorts of risks in order to make it in their businesses. Based on the topic under discussion, I write on how entrepreneurs transform societies with their entrepreneurship skills. They help in the growth of the banking, security and industrial sectors. Their assistance in educational and agricultural sectors of many countries is not even counted off in any way. The entrepreneurs promote the infrastructural standard of countries in various ways and help in the growth of national economy. The entrepreneurs have assisted in employment creation also. Due to the good economic system provided by the entrepreneurs, the poverty rates of countries are reduced.

Roles of Entrepreneurs in Banking sector

The entrepreneurs promote the banking sector of democratic and non-democratic societies. They pay the money they make from their daily business transactions to the banks located in their countries. Banks use the money in performing many functions. They use the money deposited by these entrepreneurs for trading in many kinds of businesses and establishments. The money deposited by the entrepreneurs in the banks is used by these banks to offer loans to other persons who borrow money from them. Later, the borrowers return the money with “good interest”.

The banks use the money in promoting their banking functions and solving many other problems. As a result of the money deposited by these entrepreneurs, banks charge maintenance fees to them. The banks generate a good amount of money from this and then can use it to increase the quality of service rendered to the customers. Automated teller machine (ATM) cards issued by banks to many entrepreneurs are not free of charge. As bank customers pay for these cards, banks make their money from them. Only the profit made from ATM cards of a bank branch can pay the salaries of many workers in that branch. Another means that the banking sector makes money from entrepreneurs is through penalty charges paid by the entrepreneurs as a result of their mistakes. The application fees that the entrepreneurs pay in various banks are used in promoting the development of societies at large. Honestly, once the banking sector of a democratic country is balanced, other sectors can stand on the good cash flow to perform the other necessary activities.

An illustration that briefly explains the roles of an entrepreneur
An illustration that briefly explains the roles of an entrepreneur | Source

Roles of Entrepreneurs in Industrial Development

The entrepreneurs put in their best to improve the industrial sector of societies. They are mobile and ‘sharp’ in carrying out their business activities fearlessly. As they manufacture goods from their industries and costumers buy, they are energized to produce more. They make industrialization to grow because they are strengthened by the money paid to them by their customers. They work hard and expand industrial sector because they know that the profit is theirs and theirs alone. The industries built by the entrepreneurs manufacture goods and make them available to the masses in their countries and even outside their countries. This increases the Gross Domestic Product of many nations which make their government make a good yearly budget.

Roles of Entrepreneurs in Security Sector

The young entrepreneurs in many nations like Nigeria, USA, Ghana, United Kingdom and others offer great assistance to the security sector of their democratic society. The taxes that they pay are used in the security maintenance of the society. A country without good security is as good as a dead one. This tight security is maintained to protect lives and properties of the people. Due to the taxes paid by the entrepreneurs, those in charge of security are paid well and this makes them carry out their functions well without fear. The weapons and the armours worn by these security men are obtained from the fund of the entrepreneurs. There are those that deal in the importation of these weapons and they are nobody else but the entrepreneurs.

The government in some cases calls for fundraising in the moment when they have spent much. The entrepreneurs who make much money from their businesses come and donate generously to help in building the society. One of the notable men who usually assist in this kind of donation in Nigeria is a notable entrepreneur whose name is Aliko Dangote. Who is Aliko Dangote? He is the richest man in African Continent as in 2013. There are entrepreneurs who deal in manufacturing of weapons. The weapons they manufacture are sold to the security sector of the country at a good price in order to build peace in the democratic societies. These entrepreneurs manufacture quality products used for security purposes. Some entrepreneurs who are importers take the risks of travelling from one country to another, importing some of the weapons which are not produced in their countries due to one reason or the other. There are those who that also base in the mining of the raw materials used in the manufacturing of the weapons.

Roles of Entrepreneurs in Education Sector

Furthermore, the entrepreneurs offer great help to all societies when it comes to the educational sector. They improve the educational standard in many ways. Starting from the elevation of the building, they sold the materials used for the building to the builders. The bags of cement, sands, gravels, shovels, trowels, wheel barrows and others are marketed by the entrepreneurs. Also, products made through sand casting, investment casting and other casting processes are being promoted by entrepreneurs. They are the people that make the instruments used for learning available. No student can learn well in the schools, universities and other institutions without the use of text books. These numerous texts books are sold by the entrepreneurs to the pupils and students. Without these entrepreneurs that deal in these textbooks, who can help the learners achieve their dreams?

Before the marketing of these books or papers, there are people that produce these papers or books. The question is: who these persons that produce them before their marketing are? The answer is nobody else but still the entrepreneurs. The black boards used for teaching pupils in primary schools as well as those in the secondary schools are being produced and marketed by the young entrepreneurs. The writing materials used by the students of many institutions are also sold by them. Due to the good energies and the mobility of these entrepreneurs, they put the best in them to make the materials available to the users at without much stress. The chemicals used by the science students during their practical classes are marketed by the entrepreneurs. They help in building many nations by selling electronics equipment to students. This equipment includes calculators, computers and laptops, and others used for studies.

The school uniforms worn by the students in primary and secondary schools are manufactured and sold by the entrepreneurs. The clothes worn by those in tertiary institutions are by the help offered by them. The entrepreneurs in my country help in teaching and lecturing students in the secondary and tertiary institutions respectively. You may ask how an entrepreneur can help in teaching and lecturing. They help in this through their donations. The entrepreneurs donate money to institutions that need help in order to maintain the standard of the education. Some students in secondary and post-secondary institutions should not have been there if not because of the Corporate Social Responsibilities of the entrepreneurs. These maintained Corporate Social Responsibilities involve awarding of scholarships to the students who merit them after the examinations. For instance, I know of a student who came from a poor family, he was finding it very difficult to cope with the financial standard of the university. Luckily for him, he got a scholarship from the company owned by an entrepreneur and things became easier for him. In some cases, youth who are entrepreneur also sponsor students who cannot afford to pay their fees without any scholarship examinations. In fact, without their help in many ways, the youth who are the leaders of tomorrow will not be the leaders in any way. This is because an illiterate cannot lead a society properly.

The three archetype model: Manager-Entrepreneur-Leader
The three archetype model: Manager-Entrepreneur-Leader | Source

Roles of Entrepreneurs in Agricultural Development

Entrepreneurs in some countries contribute a lot to the development of the agricultural sector in so many ways. Foods being the basic need of life are being made available by the entrepreneurs by its marketing and distribution. Starting from the machines used for agriculture, they are the people that market them to the farmers. The machines used for the cultivation like tractors, ploughs, cultivators, chisel-plough, harrow, ridge, roller and some other machines are sold by them. For a starting democratic society, foods availability is one of the major things needed and that is what the entrepreneurs work to maintain. They put all they have to bring these to the farmers’ doorsteps by travelling out of the country and buy them.

The oil used to maintain these machines are sold by them as well. They are the persons that make the manures used on the crops to be available to the users, and without manure, cultivated crops cannot yield any good result at all. They buy them in large number and then sell them to the farmers. In terms of the distribution of the agricultural products, they sell the vehicles used for the transportation to farmers. These vehicles are used to transport these products to different parts of the country. They help the farmers through the money they deposit in the banks. For some farmers that do not have enough money to continue with their farming, they went to banks and borrow some money. The borrowed money in some cases is the money deposited by these entrepreneurs. During growing of crops in the farms, some of these crops are disturbed by the birds and some pests. How is this problem resolved for farmers to have a good yield at the time of harvest? It is resolved when the farmers go to the market and buy insecticides which the entrepreneurs manufacture and sell. For the birds, farm masquerade is set up to scare them away.

Roles of Entrepreneurs in Employment Creation

Entrepreneurs make a positive impact in countries by creating employment to the citizenry. For instance, in many countries of the world, many people would have been visited by hunger and death without the employment created by them. The aim of people’s existence is to meet up with almost all their plan in life. The fact is that people cannot meet up with these plans without any good source of income. As a result of the employment provided by these entrepreneurs, these dreams of theirs become past issues. The citizenry are able to feed the family, train the children in the school and life is made easy to the people because they have jobs.Due to this, the rate of crime in some countries is minimized. A person who is always busy in his or her place of work does not have the time to start reasoning of what will lead to the country’s downfall.

The jobs created by these entrepreneurs help in building nations like my country because the much work to be done by the government in term of jobs creation is reduced. The case of people having their ‘legs engage in a discussion’ to other countries is gradually being arrested because of job creation by these entrepreneurs. Truly, the entrepreneurs are great messiahs to many countries. One of the major causes of unemployment is because entrepreneurs are not given the good platform to carry-out their business activities.

Roles of Entrepreneurs in Infrastructural Development

The entrepreneurs help to improve the infrastructure in numerous ways. For the road construction, they are the one that makes the construction successful. The instruments used for the construction are sold by the entrepreneurs. The good and sound bulldozers, shovels, chemicals and the other instruments for the construction are sold by the entrepreneurs. They have their role to play during construction of many buildings for there are some important activities they performed in such area.

In hospital construction, for instance, the woods, paints, roofing materials, and other things used for the construction of the building are sold to the builders by the entrepreneurs. The instruments used inside the hospitals like the needles, beds for the patients, gloves and so on are acquired because the entrepreneurs made them available. In setting-up banks in many countries, the materials needed for this are those of high grades. With the help of the manufacturing entrepreneurs, the standard required for those buildings is attained. Many industries that promote technological developments in the USA are owned by them and this is one of the ways of developing societies.


Conclusion

In conclusions, no democratic and nondemocratic society can be well transformed without the entrepreneurs having hand in the society. They perform great and unique functions. The entrepreneurs help many countries achieve their aims by improving the infrastructural standard, security help, improving agricultural and educational sectors, banking sector and some others. In fact, the entrepreneurs are the backbone of many societies at large because of the fundamental functions they perform. To add to the conclusion, challenges in Nigeria and that faced by other countries can be bridged by encouraging entrepreneurship. Without the entrepreneurs in any society, the business activities will be static and this, in turn, will affect other areas. Entrepreneurship should be promoted through the tertiary institutions and using applicable tools.

© 2014 Uzochukw Mike

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      Kaylea 2 years ago

      That in'thgiss perfect for what I need. Thanks!