Activator230822
Verified member
Business contributes positively to the economies of different nations. Some of these are;
Creation of employment opportunities- Businesses usually provides jobs by absorbing people who would be jobless hence boosting the economy.
Business operations engage in the formation of capital through profits which may be used to expand the business. This promotes what is called money circulation in the economic world.
Business raises the living standards of the people through receipt of salaries and wages as well as availing a variety of quality goods and services to society.
Also entrepreneurs enhances the saving on imports as the businessmen are able to produce goods and services that are substutes to the imports bearing in mind that imports are very expensive.
Businesses reduce the foreign dominance of the economy by increasing the participation of local entrepreneurs in various business activities in the country.
Businesses promotes technology through the entrepreneurs creativity and innovation character traits that most trades possess.
Creation of employment opportunities- Businesses usually provides jobs by absorbing people who would be jobless hence boosting the economy.
Business operations engage in the formation of capital through profits which may be used to expand the business. This promotes what is called money circulation in the economic world.
Business raises the living standards of the people through receipt of salaries and wages as well as availing a variety of quality goods and services to society.
Also entrepreneurs enhances the saving on imports as the businessmen are able to produce goods and services that are substutes to the imports bearing in mind that imports are very expensive.
Businesses reduce the foreign dominance of the economy by increasing the participation of local entrepreneurs in various business activities in the country.
Businesses promotes technology through the entrepreneurs creativity and innovation character traits that most trades possess.
