Why is it important to become a businessman? and what is their contribution to the world as a business person?

 

Being a businessman is important because of the following reasons;

• There is autonomy.

The businessman enjoys the benefit of being their own boss. There is also a link between autonomy and job satisfaction. Businessmen who have more control over their work tend to be more engaged and less emotionally exhausted as compared to a person who is employed.

• Higher motivation and morale.

The degree of spontaneity that is involved in operating your own business independently tends to allow for much more excitement, enthusiasm and passion for the business you are doing. Businessmen also tend to be more confident and have a higher overall morale that is brought about by their financial independence.

• Constant growth and development.

Starting a business forces one to constantly improve their skillset, all the way from marketing to closing deals and also creating their financial reports. There is always more to learn and apply to your business, which can prevent complacency and encourage constant professional growth.

• Employment protection.

As long as your business stays in business, the owner will always have a job unlike the uncertainty in employment. Even if your business starts to experience some difficulties or decreased income, you will still have the ability to initiate a recovery strategy and take matters into your own hands.

• Greater sense of satisfaction.

When you consistently perform well as a business person, your entire business will benefits. As your income gradually increases, you get a greater sense of satisfaction and fulfilment in doing what you are passionate about.

• Flexibility.

As a business person, you are able to decide when to start work and when to stop, you can also flex your working hours around, you are at liberty to choose your normal business working hours, whether you can take a half day on a certain day if you want, whether you're going to take time off for vacation or family affairs etc. This is not the same case as a person who is employed and has to abide to the rules of the employer.

Step-by-step explanation

Contributions of business persons in the world include the following;

• They add to the national income.

No matter how small a business is, it somehow contributes to the national income of a country by generating new wealth. When the business persons employ people to help them in their job, there is increased employment and higher earnings that contribute to better national income in the form of higher tax revenue which can in turn be used by the government to invest in other, struggling businesses and human capital.

• Creation of new businesses.

When business persons want to create new goods and services, this may result in new employment, which can produce a virtuous circle in the economy. Hence, the stimulation of related businesses that support the new venture add to further economic development.

• Community development.

Business persons regularly nurture business ventures by other like-minded individuals. They also invest in the community projects and provide financial support to local charities, which enables further development beyond their own ventures.

• Creation of social change.

Through their offerings of new goods and services, they break away from the indirect support freedom by reducing dependence on obsolete technologies, which in turn, results in an improved quality of life, greater morale and also economic freedom.