Entrepreneurship Versus Paid Work: Markets, Entrepreneurial Ideas, and High-Value Entrepreneurship

Tolu Olarewaju ()
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Tolu Olarewaju: Keele University

Chapter Chapter 2 in Entrepreneurship as a Route out of Poverty, 2023, pp 29-59 from Springer

Abstract: Abstract Entrepreneurship may be better than paid employment in certain situations, such as when an individual has a strong passion or idea for a business, values autonomy and control, seeks financial rewards and long-term growth, or values the potential for impact and social change. However, it is important to note that entrepreneurship also involves significant risks and uncertainties, and may not be the best option for everyone. Added to this, entrepreneurs operate within markets, identifying opportunities, creating innovative products or services, and driving economic activity. At the same time, markets provide the environment and platform for entrepreneurs to launch and operate their businesses. This symbiotic relationship between entrepreneurs and markets fuels economic growth, fosters competition, and promotes innovation. This chapter explains these phenomena, shows where entrepreneurial ideas to penetrate the market come from, and explains how entrepreneurs can undertake high-value entrepreneurship that creates more impact in the market and also creates more employment opportunities.

Keywords: Entrepreneurship; Income; Occupations; Work; Poverty reduction; Innovation (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-38359-5_2

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DOI: 10.1007/978-3-031-38359-5_2

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