Entrepreneurs are known for their ability to explore new business opportunities and do things that are never done before. They try and bring innovative products and services and explore better ways through which business can be conducted successful but when it comes to promotion of Exports and imports as they are considered important for creating opportunities by using import and Export to make money that can eventually help the country in which they operate. Export promotion and import substitution are two important concepts which are encouraged by government help country grow and prosper. Export promotion basically provides incentives and encourage entrepreneur to undertake exports activities and improve trade performance of the country. Increasing exports help to increase forex reserve of the country. Import substitution deals with replacing imports from foreign countries with domestic production. It is promoted by the government to decrease dependence on other countries and help make country self sufficient in its own local production. An entrepreneur help in import substitution by creating opportunities and produce goods and services on the country 's soil, help establish strong industrial base. Thus help reducing imports and at the same time take and promote local products and brands globally,thus increasing exports.
Where am I?
In StartupTalky you can ask and answer questions and share your experience with others!
What are the motives for becoming an entrepreneur? How are entrepreneur important in solving society ' problem?