Entrepreneurs: An Important Role In Society

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An entrepreneur is an individual who works as an employee, runs the small business and assumes all the risks and rewards of a given business venture, idea, goods or services offered for sale. Also, an entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes. Entrepreneurs play an important role to the society, due to their activities that are the critical determinants of the level of success, growth, opportunity and prosperity in any economy. The most dynamic societies in Thailand and in the world are the ones that have the most entrepreneurs plus the economic and legal structure to encourage and motivate entrepreneurs to greater activities. Then, entrepreneurship becomes one of the most interesting…show more content…
However, according to the popular belief of most people the best way to solve and solve for the future is retirement planning. This firstly helps the uncertainty of Social Security and Pension Benefits; there is a need to be upfront about the prospects of government-sponsored retirement. There might be a possibility that “double-whammy-“ effect might happen, it holds the potential to put significant strains on the system and could leave governments with no viable option but to reduce social security benefits or either to suspend them altogether for all but the poorest of the poor. Doing Private pensions plan or defined benefit pension plan can mainly solve this. These uncertainties have transferred the financing of retirement from employees and the government to individuals, leaving them with no choice but to take their retirement plans into their own hands. The Second reason to have a retirement plan is the unforeseen medical expenses. Being old aged brings medical problems and increased healthcare expenses, living out peoples’ retirement years in comfort while also covering the medical expenses may turn out to be a burden too large to bear in the future – especially the persons own health or their loved ones. TO prevent this, considering obtaining insurance such as, medical and long-term care insurance (LTC), to finance any health…show more content…
As we all know, not all Thai people starts saving up for their retirement and it would take 10 years longer than the citizens of other countries particularly in European countries. The research has focused on the behaviors of entrepreneurs and psychological aspects of the retirement, what they plan in the future after the retirement from their careers. Many Thai people rarely pay attention on cost of medical treatment and hospitals. The fear of not having enough money is not a good plan. So, Thai people should prepare and start saving or planning for their retirement before it’s too

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