What Are Reasons Why People Engage in Business?

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People engage in business for several reasons, but the most compelling reason for many is to earn a substantial income. Entrepreneurs have income limited only by the practical opportunities in the marketplace, as opposed to the salary maximum established by an employer.

The desire to work independently in pursuit of a vision is another primary driver of entrepreneurial business activity. Some people don’t want to work for a boss. Others have an innovative mind or brilliant idea, and they want to pursue their business vision on their own as opposed to sharing the idea within an existing organization.

People also engage in business to make a difference in the world. Bill Gates has been financially successful as the founder and leader of Microsoft, but he also relishes in what the technological innovation of his company has done for global communication. Gates also gives a lot of money to charity through the Bill Gates Foundation.

Engaging in self-employed business activities allows greater life freedom and flexibility than working for an employer. When individuals set up their own businesses, they are able to set their own hours and policies, establish prices, and make all important decisions on how to operate the company.