Question

Discussion Board Post:

What role does entrepreneurship and business play in eliminating poverty?

Answer 1

Ans) The idea of ending poverty is enshrined in UNSDG (United nations sustainable development goal), to be achieved by world by 2030.

Entrepreneurship and businesses have played an important role in facilitating the process. People who become self dependent, not only help themselves but also help others to come out of the poverty. Microfinancing, crowdfunding etc has helped people to become entrepreneurs.

Further, businesses provide job opportunities to the poor and increase in business means increase in employment rate and as a result, reduction in poverty. Businesses also provide funding to the new entrepreneurs.

New budding entrepreneurs see opportunity in problems. They have tried to build workable solutions for the poor. For eg- selling of traditional handicrafts and other such things helps entrepreneurs as well as the poor. There are also many businesses and entrepreneurs who promote products made by the rural communities, thus helping the poor.

These small efforts work towards eliminating the the poverty by helping the poor to become independent or by providing them jobs.