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Entrepreneurs drive our economic success

It’s amazing how things keep getting easier; you can push a button on your phone or computer and do almost anything these days. You no longer need to cook or even go out to eat; “there’s an app for that.” Gone are the days of having to spend your precious time shopping, either. No more driving to the store, hoping they have what you’re looking for in stock, waiting in line to pay for it, and then fighting traffic to get out of the parking lot to get back home. Simply search online, tap a virtual button, and it shows up on your doorstep tomorrow. Unbelievable.

The entrepreneurial spirit

There are countless examples of how new technologies and businesses are making our lives easier and better. For this, we have entrepreneurs to thank.

Entrepreneurs first have an idea; a vision of the future and how to make the world a better place by building something new. These folks then strive to turn their ideas into reality — and make it happen. This has been the case since society’s beginnings; think of railroads, automobiles, computers or currently — the “service economy.”

Investors, banks, and the Federal Reserve support entrepreneurs

We can also thank investors for our modern life of convenience and luxury; they believe in entrepreneurs and invest in startups to help them grow. The Federal Reserve — and banks in general — also play a large role. They help businesses grow by adjusting interest rates to make it easier or more difficult — depending on the economy — for startups to borrow funds.

Why now is an exciting time for entrepreneurs

In my opinion, today is a great time for entrepreneurs. Investors are optimistic and actively looking for new business ideas in which to invest. Interest rates are at historically low levels, which allows startups to borrow very cheaply compared to years past.

I encourage you to find the entrepreneurial spirit within you —this may be the most opportune time you’ll find. Bringing your business idea to life and achieving success helps you and people around the world.

 

January 2020

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