How Entrepreneur Generation of Business Opportunities for Others? - QS Study
QS Study

Entrepreneur Generation of Business Opportunities for Others:

A key question that all would-be entrepreneurs face is finding the business opportunity that is right for them. Every new business creates opportunities for the suppliers of inputs (this is referred to as backward linkages) and the marketers of the output (what is referred to as forward linkages). As a pen manufacturer you would create opportunities for refill manufacturers as well as wholesalers and retailers of stationery products. These immediate linkages induce further linkages. For example greater opportunities for refill manufacturers would mean expansion of business for ink manufacturers. In general, there are greater opportunities for transporters, advertisers, and, so on.

In general sense, the term opportunity implies a good chance or a favorable situation to do something offered by circumstances. In the same vein, business opportunity means a good or favorable change available to run a specific business in a given environment at a given point of time. There are many sources for new venture opportunities for individuals. Clearly, when you see inefficiency in the market and you have an idea of how to correct that inefficiency, and you have the resources and capability or at least the ability to bring together the resources and capability needed to correct that inefficiency that could be a very interesting business idea. So, via a chain-reaction, entrepreneurship provides a spur to the level of economic activity.