Post
Topic
Board Economics
Re: Wealth creation
by
Die_empty
on 23/04/2025, 19:28:49 UTC
Wealth varies and new materials can be used for wealth creation, in my locality few years back, plastic bottle recycling wasn't a source of funds, but today many men have ventured into the business, and store plastics in large quantities to sell and make income. While it's in the warehouse those cans can be called wealth.

Hence, what matters is being able to sustain the source of wealth, once it's gone, the funds or finance generated through it would disappear. For instance, selling a land blessed with natural resources, the seller losses the wealth buried under the ground, while the buyer would enjoy a new stream of income by mining the materials underneath the land.
Creativity is very important in wealth creation. People who venture in popular businesses that are so rampant might not be able to make much gain. The ability of an entrepreneur to discover the solution to a new need or problem of a people is what makes him excel in business. A few years ago, waste like iron scrap and plastic bottles was useless. It was an entrepreneur who studied recycling and started their recycling business. The early recycling business owners made so much money. But profit has reduced now since we have many people in the business now.

Sustaining wealth is done by diversifying your business to new areas that are not overcrowded. I know a businessman who started from motorcycle imports, and now they have diversified to cars and another automobile. Immediately the market is getting saturated, he moves to a new product..