The Economy is being driven by the rise in the number of Entrepreneurs. Entrepreneurship has seen growth because of the Independence and Freedom of control it offers. All the successful entrepreneurs are motivating other people to get into the Industry by themselves and start a venture. This has increased to numerous Small Businesses. Small Businesses are characterized by varied organizational structures and independence of action. These businesses and manufacturers have not yet stabilized their production or product quality.

A survey was conducted recently which showed various factors due to which Businesses succeeded. The most common factor found was Optimism. An optimistic approach is known as the biggest asset for the growth of the business. The Business owners that showed an optimistic mentality were shown to have more growth than the others. This was purely because psychology affects actions. Pessimism mentality is known to hinder the person’s ability to engage in life-improving acts. According to a study, 69% of business owners believe that the success of their business is depended on the culture of the company. An Optimistic environment boosts the productivity of the employees, which in turn boosts the growth of the business.

Small Businesses have realized how Optimism helps, and hence there have been a lot of changes in the business world. Entrepreneurs have to move an edge up to get a competitive advantage. They now have more reasons to be optimistic because of several factors that are working towards building a better business ecosystem. Some of the factors that develop a sense of Optimism in the minds of Entrepreneurs are,

Government Assistance:

The government has realized the dependency of the Economy on Small businesses. They have chartered several different rules and regulations in favor of Small Businesses. The government has come up with several Business Loans, that entrepreneurs can opt to boost their business. Latest Tax cuts and Modified structures have enabled small businesses to stretch their arms and reach out to places that they weren’t able to before. The government has set up multiple organizations and associations that are involved in the uplifting of Small Businesses. The establishment of International bodies like the World Association for Small and Medium Enterprises (WASME) are some examples of assistance governments provide.

Influence of the Internet:

Social Media has changed the way businesses approach the market. Market research has become an indoor task and has made understanding the needs of the consumers easier. Internet usage is growing abruptly, which has resulted in businesses moving over to the Internet. Developing a Social Media image has become crucial. Small Businesses can now see how the competition is performing and they learn from their mistakes. This helps in developing Optimism among the Business owners.

Globalization:

Globalization has allowed small businesses to reach out to a wider talent pool. Business owners have an increased number of opportunities and more markets to tap. This has developed a sense of optimization because they now have more options to try on. Globalization has led many foreign investors to step in and help with their global expertise.

Overall, multiple factors are involved in helping the businesses to increase the involvement in the economy, which is helping to brighten the outlook of small business owners. Increased optimism has resulted in the rise in the growth of business. It has shown an increase in the confidence of small business owners.