A widespread distribution of entrepreneurs creating small businesses is one of the greatest assets of America. Here's why.
It spurs economic growth.
America is a capitalistic country, so--by definition--it makes sense that many small, local business would allow it to thrive. A reason why this holds true is because entrepreneurs create many new job opportunities with every business. In the case that the economy is doing poorly, the unemployment rate can be salvaged when entrepreneurs create new jobs with every new business. Empirical data supports this fully in this evidence map.
It sheds light upon new innovations and creative ideas.Â
Our right to own businesses is the vehicle for thoughts to be thoroughly communicated. This means that every new innovation and technological idea is advanced and "brought to the surface" because it turns into a real-life business that sells. This is especially vital when evaluating what it takes to (more positively) prosper instead of simply preventing mishaps and/or a potential economic decline.
Possible Higher Standard of Living
As a disclaimer, this is not something I have provided substantial statistics or research, even, to support. This third reason relies more upon naturalistic observation than empirical data. That is also the purpose of the word "possible." To be specific, it can raise the quality of life for individual consumers and families. A growing entrepreneurial market that becomes increasingly competitive means business owners eagerly strive to excel in matter such as convenience. Higher convenience would make one company more prone to high customer activity and, most likely, more profitable. So, as a result, consumers of this day and age can now very easily grab almost any product of their desire from a store five minutes away or request a service be done immediately in times of "crisis" or trouble.
It can benefit those that don't have a college degree.Â
The very existence of entrepreneurship aids those that do not have college degrees. One can start a business without having to meet a requirement for a substantial education. It contributes to the guarantee that a college degree is not the onlyway one can be successful. This increases opportunity for such people and contributes to a lower unemployment rate.
It is an opportunity for the poor to cease being poor.
You can say that this is a "loaded" statement because it may seem this way. However, the word "opportunity" allows it to still hold true. No, entrepreneurship cannot absolutely or definitively guarantee equality of outcome, but it does, however, promise equality of opportunity. This is a highly notable distinction to make. Sure, it may be easier for someone with family in the business world or a college degree. This could very well be presented as a reason that equal opportunity is not what it promises to be because other factors (like income, family, education, etc) diminish any chance for equal "opportunity" because the person that has higher quality of life regarding these factors has, arguably, better opportunities. And I would completely agree. This is true. However, these factors are not for the government to alter or skew. It is up to individual people to skew these factors for themselves. The same way the government should not interfere destructively (in a manner where it would go about lowering the quality of these factors for different people and produce a somewhat tyrannical society), it also cannot, by the same logic intervene with these factors constructively. This greatly revolves around the concept of individual liberty.
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