Entrepreneurs invest their own resources and attract funds (in the form of debt, equity and more) from investors, lenders and the public . This deploys public wealth and allows citizens to benefit from the success of entrepreneurs and developing businesses. This type of pooled capital that results in the creation and distribution of wealth is one of the fundamental imperatives and objectives of the economy. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an Original EssayBy nature and definition, entrepreneurs are job creators, as opposed to job seekers. For example, when you become an entrepreneur, there is one less job seeker in the economy and you can then provide employment to several other job seekers. This type of job creation by new and existing businesses is again one of the fundamental goals of economic development. They generate numerous employment opportunities and help to extend or raise standards to an international level. Entrepreneurs contribute to increasing the standard of living of the people of a country which is yet another key objective of economic development. They not only promote employment opportunities but also develop and adopt innovations that lead to improvements in the quality of life of their employees, customers and other stakeholders in the country. As an example, automation that reduces production costs and enables faster production will make a business unit more productive, while providing its customers with the same products at lower prices. Community development requires infrastructure for health care, education, training and other public services. For example, a community needs educated and skilled workers to attract new businesses. If there are educational institutions, technical training schools, and internship opportunities, this will help build a pool of educated and skilled workers. The creation of new companies and industrial units contributes to regional development by establishing themselves in less developed and lagging areas. The growth of industries and businesses in these areas leads to infrastructure improvements such as better road and rail connections, airports, stable electricity and water supply, schools, hospitals, commercial complexes and others public and private services that would otherwise not be accessible. Entrepreneurs also create social change. Through their unique offerings of new products and services, entrepreneurs break with tradition and indirectly support freedom by reducing dependence on outdated systems and technologies. For example, providing water in an area where water is scarce will sometimes force people to stop working to fetch water. This will have an impact on their activity, productivity and income. Each new business established in a less developed area will generate direct and indirect jobs, helping to boost regional economies in various ways. The combined spending of all new employees at new businesses and the jobs that support them at other businesses contribute to local and regional economic success. Any growing business will eventually want to get into exporting to expand its business to other foreign markets. It is an important element of economic development because it provides access to trade.