How Will Entrepreneurial President Affect Economy(s)
Entrepreneurs are considered as the backbone of modern economies. They make contributions to the betterment of the economy. The reason behind a successful economy is successful entrepreneurs who take their ideas to the next level. A successful entrepreneur can improve the standard of living. Entrepreneurs create jobs, encourage innovation and promote economic growth. They can change the way we live our lives and work.
Entrepreneurs are significant for the global economy. They can overturn the industry overnight with a single idea. Entrepreneurs help businesses grow faster. They create new job opportunities for people that result in an increase in employment. It was recorded in a survey that 59% entrepreneurs expected to increase their workforce. While 28% of large businesses scheduled to increase their workforce.
Moreover, they encourage innovation more than the existing competitors. Successful entrepreneurs are aware of the ways to perform better. They have already challenged the existing conditions and contended with well-established businesses.
An entrepreneur is accountable for the creation of a new industry. This leads to increase in economic growth and in job opportunities. According to a survey, 95% of entrepreneurs who introduced a new product, are likely to increase their workforce in the coming year.
Apart from this, people admire rich people as they provide them a solution to their problem. They offer them job opportunities that lead to better living standard. This is why all around the world, the entrepreneurs are helped so they can achieve their goals.
Performance of Global Economy
The impact of the President Trump’s ideas is discussed below. It is predicted the time period will be uncertain. This is due to the revaluation of global agreement and disrupted supply chains. Take a look at how global economy performs.
Brazil has been going through a difficult time as they are fixing the inherited populist binge. This caused recession, inflation increased and impeachment of President. But now they have to face the negative impact of the world’s populist policy as well.
Brazil was ready for recovery from the deep recession in November 2016. The monetary policies were starting to get better. The prices were displaying the signs of stabilization. Brazil was taking measures to control the deficit of the government.
Furthermore, the country was moving towards recovery and investing in infrastructure to promote growth. Now, the election of President Trump will bring an uncertainty along with concerns on European forefront.
The policies of Trump creates tensions for Spain. The anti-globalization initiatives like TTIP (Trans-Atlantic Trade & Investment Partnership) assured to promote growth for both sides will be removed. There will be no free trade, protectionism will be imposed. Spain just came out of recession because of the export growth. Hurdles in trade will hurt the predictions of Spain and world.
However, the Spanish companies can get contracts in the infrastructure project of Trump. This will boost the exports of the Europe and encourage more Americans to visit Spain.
In the end, the entrepreneur is the best way to increase economic growth, employment, and innovation.