Entrepreneurship and its impact on society – Anoop Bishnoi

 Economic growth is driven by innovation and implementation. The coming of the 2 together is the result of forward-thinking individuals with the ambition, abilities, and the experience/confidence to turn a business vision into a reality. Although businesses are built on money, some entrepreneurs are often concerned about much more. They want to benefit society by paving the way and developing novel solutions to practical, financial, and social problems. Entrepreneurs’ importance extends beyond the impact they have on their businesses.

To understand how entrepreneurship and innovation fuel economic growth, we had a conversation about the same with the well-established and experienced Anoop Bishnoi. Anoop is the promoter of Alcohol and Steel Industries and also a business mentor to many.

Here’s what he said, “Entrepreneurship impacts a country’s economic performance by introducing new products, methods, and manufacturing processes to the market, as well as increasing productivity and competition, which result in job opportunities too. But amongst the many challenges that an entrepreneur faces, some roadblocks are also laid by the policymakers, which surely affect the overall gains and rewards. Overregulation of commerce stifles entrepreneurship by raising the costs of starting (as well as continuing) a business and decreasing flexibility plus the ability to respond quickly to opportunities as they arise, reducing experimentation. Similarly, rapidly changing, unclear, or complex regulations make understanding the legal environment difficult for them. By adjusting the policies in favor of the entrepreneurs, a country can motivate and retain their entrepreneurs as well as attract innovators from other countries as well.”

Entrepreneurship is vital in changing and growing a society…as it makes sense to cultivate, motivate, and remunerate this most valuable asset to the greatest extent possible.