Question

how has entrepeneurship influence the economy in urban areas as well as the economy in general? In depth explanation

Answer 1

Entrepreneurship is all about new ideas, innovation and looking things from a different perspective. Much of your youth generation is attracted towards it, majority of them are those who lives in urban areas while people in villages are still looking for conventional methods of doing things. New startups, if successful gains limitless profit and employs many people. I am taking the case of Oyo Rooms of India. Now they expanded in almost every country in Asia. It has also become the world's top leader in hotel chains. It helped many people in getting employment and raises overall investment level in the country. It not just effects directly but indirectly as well. It gives hope to various other entrepreneurs for taking a lead and start implementing what they think can change the way people behave. As world is dependent upon Automation, Robotics now. Startups which reduces the manpower or raises efficiency gains much more market power than others. In total, entrepreneurship effects positively the urban economy as well as the overall economy.