One cannot definitely ascertain if enterpreneureship is a way out of poverty because sometimes most people who are entrepreneurial mindset do not have the capital all the investments to start up a business that means that for a person to even become an entrepreneur they will need funds and investment and if they do not have this then becoming an entrepreneur will not even be a possibility there for poverty continues.
In the world we are currently there would have been a lot of entrepreneurs if there are government grants and loans to make this possible there are a lot of business prospects that has gone down the drain as a result of not being fuelled although I must agree that if a person can attain full entrepreneurship then it may be a way out of poverty because they may have a chance to employ people and take them out of unemployment but the genesis of entrepreneurship if not present will definitely not work and I mean money.
However apart from the money there are other factors too comma and this is actually being successful in your enterprenurship ventures some people may become entrepreneurs in the wrong field and the wrong business ventures and end up becoming a total failure and 55% of people who borrow loans to become entrepreneurs actually invested in the wrong business and the end up nose diving into debt.
In a nutshell my point is that entrepreneurship with the right prospect can actually take people out of poverty but it isn't guaranteed because some people who actually become entrepreneurs fail in their attempt and they have actually still remained in poverty maybe as a result of man managerial lack of skills so in a nutshell people need skills, ideas, prospects, skills in art and crafts and even education in order to escape poverty because enterpreneureship tendency alone cannot take people out of poverty.
No according to me entrepreneurship is not only the best way to escape poverty. There are many fields as well if explore properly definitely poverty can be eradicated to an extent.
No doubt being an entrepreneur and doing your own or family Business has its advantages but its not only a way to escape poverty. Businesses have their own risks and I have seen a wrong Business decision can lead to its fall and believe me the fall can be that bad that it ends everything i.e. the whole Business empire. At another hand, the good Business decision could lead to more growth and success.
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Apart from Entrepreneurship, there are fields like:- teaching, political leader, civil services tied to highly paid respected government Jobs, private jobs sector roles from the board of directors to a CEO and many others.
Landing yourself in a reputed company and working towards the growth/success of the company can also help eradicate poverty. Nowadays many Multinational companies [MNCs] are paying good salary packages and I think it's a good start that helps fulfill many dreams.
Simultaneously the jobs in the government sector are considered highly secure and the remunerations provided here as well are competitive. Also, in many countries, you have different perks apart from your salary working for the government. A government job adds to the person fame as well and is considered highly respectable job when you are working for the government of a country - may it be a government school teacher, serving the military forces or working as a political leader for the betterment of the society and the country.
Will conclude on the lines that it's not just entrepreneurship that is only the way to escape poverty. There are many other fields as well - like the public/private sector Jobs that gives people equal opportunities to grow along with the company or the country if its a government job.
Entrepreneurship, from its definition is " the activity of setting up a business or businesses, taking on financial risks in the hope of profit "
The act of setting up a business would most likely require work force, which will create more employment opportunities for people, thus helping in improving the problem of lack of employment opportunities which is one of the main contributions towards poverty.
Entrepreneurship helps in closing the gap between the poor and the middle class people.
I think it's one way but I'm not sure if it's the best way.
Entrepreneurship can be very hard, especially for newcomers. Popular statistics say 9 out of every 10 businesses fail. That's a lot
If one is not careful, entrepreneurship can actually plunge one Into debt and poverty
I believe everyone should try out what works for them. A salary job can be the best way for some. For others entrepreneurship is the way
Being an entrepreneur as hard as it is might not be the best way to escape poverty but it gives you a great chance to. I mean, having to run your own business in the way you dim it fit to be ran has go ve pretty interesting.
When it comes down to the income of the business, you know how to make use of it in ways to improve. At the same time, being an entrepreneur and a successful one opens up your business to the public. I mean you can employ people. This might be tasking, as you now have to oay salaries but it is a clear indication that the business is indeed growing.
Now, not only have you escaped poverty but you have helped some other people escape it too.
I think it is the best supportable approach to escape poverty.
Business people more often than not run towards the created nations and here its the most inventive nations. At the end of the day the most valuable estimation of a nation, inventive business people vanish away leaving the nation with individuals searching for an occupation until there are no more employments.
The exceptionally flourish nations like Germany, South Korea, Vietnam, China, California, make such a gravitational draw, to the point that they require perpetually masters and self-propelled individuals that they develop in success better than expected.
On the off chance that we can discover approaches to keep the best business people in their nation of origin, they make employments as well as more imperatively they motivate others to accomplish something comparable. Key parts anyway are: a receptive culture, a legislature that is openly steady to advancement and enterprise, in a perfect world a free market situated economy and totally key is a general training in business, speculation and financial matters.
Needy individuals, even in the most created countries demonstrate all a similar example: They spend more than they acquire and they spend it on absolutely unimportant things. Despite what might be expected, the individuals who adapted right on time to contribute, more often than not build up a riches level over their standard pay esteem. Understanding the monetary esteem mechanics likewise enable them to all the more likely play inside the economy and start to quicken in their vocation. That exceptionally workman really is the establishment of a container societal success. You can see that in rising nations like Malaysia, Vietnam, Uruguay, Chile, Poland and numerous others - yet in addition the opposite conduct and results in most African nations. A particularly fascinating yet miserable precedent is Nigeria, where the tech blast in Lagos is hypothetically driving the needle to flourishing upwards, yet it is one of the poorest nations on the planet. There is essentially no training other than perusing and composing.
One angle to take in thought is that neediness isn't an outright however an overall reality. A man in Peru who has a water latrine, a warmer in their home, a vehicle, Internet get to is far more extravagant than ruler Louis the XIV of France in the 1600's. An incompetent laborer in Germany is far more extravagant than a bank administrator in Ghana.
All things considered, neediness will never vanish away.
1) There will dependably be countries that grow such a great amount of quicker than others that there is a tremendous relative delta.
2) Some nations are under extraordinary governments with a tremendous dimension of defilement. They will just not make it to the best at any point in the near future or falling behind out of the blue.
3) There are countries where their generally speaking developmental cycle is a long ways behind. They will most likely need to experience some more cycles to make up for lost time.
Be that as it may, what we can do is helping the individuals who have the self discipline to escape destitution by supporting them constructing the best condition to flourish and turn into a motivation to other people.