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New and young companies are the primary source of job creation in thriving economies, and entrepreneurial activity introduces new products and services. These new businesses also contribute to economic dynamism by injecting and intensifying competition into markets which cause consumers to benefit from lower prices and greater product variety and promotes greater upstream and downstream value-chain activities.

New entrepreneurs must seek to first understand the market in relation to the economy they are in. Not every market is viable and factors affecting demand must be carefully assessed, to work out how a business would cope, should the demand curve shift adversely.

Successful entrepreneurs operate on sound business ethics which are approved and accepted in any society. Entrepreneurial Ethics are those codes of conduct, employed by entrepreneurs which impact society positively, thereby increasing the entrepreneur’s chances for greater success.

Developing an “Entrepreneurial Mindset” is important to the success of any entrepreneur. Many people have dreams of making impactful changes in the world and in their lives. Although the decision to venture out into...

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Desi Entrepreneur - India ArticlesArticle Count:  5

The Voice of Literature MagazineArticle Count:  4