Society 3.0 is about a lot of things: Innovation, technology, people. Nevertheless, one of the most important aspects is entrepreneurship. But why is entrepreneurship so important?

Entrepreneurship allows people to do what they want – to follow their passion. Entrepreneurship is not only important for the business itself. It plays a major role in the economy of a country. First of all, it creates new job opportunities. When an entrepreneur starts a business, she/he needs to hire others to build up the company. Besides that, entrepreneurship cause economic growth. In some countries, there are more entrepreneurs than in other countries. Nevertheless, the field is growing constantly.

At the end of 2013, there were 800.000 entrepreneurs registered in the Netherlands – and the number is increasing. Entrepreneurs provide wealth. When starting a new business, entrepreneurs tend to sell their product for a low price first. By that, people get to know the product and have the opportunity to test the product and to buy a high-quality one for a low price. By that, entrepreneurship fosters the economy of a country. Therefore, a lot of governments even support people who want to start their own business e.g. in Denmark.

However, one of the most important aspects is for sure that entrepreneurship helps to bring new products and ideas to the market. Without the creative ideas of entrepreneurs, our world would not be as advanced as it is today in the fields of culture, science, and technology.

In the following video, Sandy Baruah talks about the importance of entrepreneurship in the United States.

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