Entrepreneurship relies on individuals with the motivation to create their own business. Indonesia is a country where it highly encourages its people to start their own kind of business. There are risks and costs that come along with the business. However, the people believe that when you want to do something then there will always be a way.
As of now, Indonesians have millions of individuals who have their own business. There are many good things that can happen through this entrepreneurship business. As long as the industry flourishes, then Indonesians can also benefit from them. Here are 10 Importance of Entrepreneurship Development in Indonesia. Find out how the entrepreneurship industry creates positive impact on the people and the country.
1. Offer Job Opportunities
The entrepreneurship development in Indonesia offers more job opportunities. Since there are a lot of business starting in Indonesia, there is also an increase in the demand for workers. Thus, the entrepreneurship business opens more work chances for those who are looking for a job in Indonesia. As a result, it also reduces the number of jobless people in the country which is always a great thing. Read more about Business Ethics In Indonesia
2. Maximise Local Production
A certain business may rely on local energy first. This means that it will maximise the local production in a certain area. For example, a local chocolate business may want to depend on local Indonesia cocoa production first. It might mean less cost in production for the business. Nevertheless, it is still good for the local area. The area will receive more income from the business. The people in the area can also earn new skills or sources of money for their lives.
3. Increase Innovative Ideas
This next importance is crucial which is increasing innovative ideas. When an entrepreneurship business finds success, it may leave room for more innovative ideas. People will always find new ideas for business but to know a successful one might inspire them. As a result, creative ideas will increase. People will get encouraged to look at their environment and create something that has not been done before.
4. Reducing Society Problems
A growth in an entrepreneurship business can help to reduce the problems in society. Some of these problems are the ones that have a big impact on many people in Indonesians. They include criminal activities and all types of poverty in Indonesia. However, the poverty problem is the most serious one. With arising business, some people can have the chance to pull themselves out of poverty. They will find a job and start earning money. Gradually, the entrepreneurship business can lessen the number of poverty in Indonesia.
5. Introduce Indonesia Market to the World
This next importance is introducing Indonesia market to the world. When there is an entrepreneurship business, there is a chance that other countries might take notice too. That can only happen if the service or the product is good. Nevertheless, the business still has an impact to the world. It introduces the business market in Indonesia to everyone who lives outside the country. It can give the impression that Indonesia is also a serious player in the world market. Furthermore, it may attract some people to have foreign investment in Indonesia.
6. Making Use of Natural Resources
Other than relying on local production, an entrepreneurship development in Indonesia will definitely need natural resources. Indonesia has an abundance of natural resources that people can use in their business such as the Indonesian nutmeg . Therefore, they won’t have to rely on importing resources. There are already so many imported products that come into Indonesia. Other than saving money for the business, those who supply them with the natural resources also get an increase in their profit. Moreover, using natural resources will also mean that their product is authentic to Indonesians. Other countries might even begin to be interested in Indonesia’s natural resources for their products.
7. Creating Healthy Competition
A growth in an entrepreneurship business can create competition. This healthy competition can motivate every business to keep improving. Without a healthy competition, the business world would stay stagnant. This state would not help in increasing business performance or production. But with a competition, entrepreneurship business will always want to give out the best than the rest. It pushes others to keep the industry alive. If the growth continues to rise within the next years, then Indonesia will have more excellent entrepreneurship business and products by then.
8. Widen Job Skills
Another importance for it is widening job skills in the country. An entrepreneurship business might need workers with a set of skills that are not common. Therefore, they open up a whole new demand for skills. This means that the job opportunities will also reach more people in Indonesia.
9. Help Local Families’ Economy
By providing new jobs, the entrepreneurship development greatly help the local families’ economy. They will begin to have sources of income and avoid children labour in Indonesia. Thus, they can fulfill their daily needs and other important services such as school or healthcare. So if the business keeps growing, the local families will no longer have to worry about whether they are going to have food for the day or not.
10. Create More Variation in Products
Lastly, the development in entrepreneurship is good because it helps to create more variation in products. Each business will give out different services or goods for people to use. Thus, there will be more products and services that the people can choose from. New varieties in products always attract consumers to purchase more.
So, those are the reasons why the development in the Indonesian entrepreneurship business is important. There are many effects it creates which include making Indonesia market more known worldwide. Other than that, it also provide people with jobs in a country where there is a high rate of joblessness and poverty. In other words, entrepreneurship development in Indonesia has helped others to live a decent life.