This month, CIPE hosted a Twitter Chat with advocates around the world to discuss how entrepreneurship contributes to economic, social and democratic development. Entrepreneurs naturally help to grow the economy as their ventures provide new services and often lead to increases in employment. In fact, the basic characteristics of entrepreneurial ventures indicate that they are more effective for economic development than other strategies. Startups are structured in a bottom-up fashion and tailored to the needs of local communities, which in turn leads to better engagement and sustainability. Furthermore, entrepreneurial ventures are not necessarily capital intensive meaning they can be launched quicker than larger initiatives that may require drawn out processes to secure necessary funding or even political support. Entrepreneurs are also more adept at navigating altering landscapes. Their smaller scale, limited structure, and independent thought processes allow for quick decision making while other strategies are slow to make necessary changes and adjustments.
Participants in the Twitter chat expressed that there are a number of barriers to entrepreneurship in the developing world. Access to micro-finance and general liquidity are commonly cited as the biggest barriers, but capital is only one part of an extensive ecosystem that allows entrepreneurship to thrive. These ecosystems not only require finance, but also have elements dealing with policy, culture, support mechanisms, and markets.
The policy environment plays an important part Continue reading ‘Creating Entrepreneurial Ecosystems’ »
Last week on the CIPE-supported RevistaPerspectiva.com: Director of Economics at CIEN in Guatemala Hugo Maul provided an analysis of entrepreneurs’ responsibilities in their own development;two graduates of the CIPE-sponsored EmprendeAhora program in Peru –General Manager at Metrika ArquitectosMario Carrascaland President of Asociación Lidera Geraldine Vanessa Rubina – offer theirperspectives on the challenges for young entrepreneurs in Latin America; and Director of Entrepreneurship Education at Fundación Paraguaya in Paraguay Roberto Urbieta explains what Global Entrepreneurship week is about.
CIPE and RevistaPerspectiva.com also organized a Spanish Twitter chat on entrepreneurship in Latin America. Several CIPE partners from around the region, including Roberto Laserna from Fundación Milenio in Bolivia, Xavier Andrade from the Ecuadorian Institute for Political Economy (IEEP) in Ecuador, and staff from EmprendeAhora in Peru and the Center for the Dissemination of Economic Knowledge in Venezuela, helped lead the discussion among Twitter users.
Originally posted by Brandon Nickerson on the CIPE Development Blog
This fall, I had the opportunity to attend the U.S. Egypt Business Council Luncheon honoring Entrepreneurship Scholars from the MENA Region at the US Chamber of Commerce. It was incredible to witness the level of optimism shared by these young entrepreneurs, and to hear firsthand from them on their ideas to promote job growth and encourage entrepreneurialism in their respective countries.
As I and several of my colleagues interviewed these young entrepreneurs about their thoughts on entrepreneurship and the barriers faced by young entrepreneurs in their countries, it was evident that many of them will go on to do great things.
Whether you describe it as the “enabling environment for entrepreneurship” or the “entrepreneurship ecosystem,” job growth across the region will remain sluggish unless reforms are made to the barriers and challenges facing young entrepreneurs. Whether your business idea is contingent upon outside financing or an entrepreneurship support program, without significant reforms made to the areas that affect starting a business — property rights, access to finance, bankruptcy laws, market exit, corruption — no amount of optimism will deliver on the promise of opportunity and dignity for the average citizen. Continue reading ‘An Entrepreneur Spring or Winter for the Arab World?’ »
Originally posted on the CIPE Development Blog
“Youth have inherent risk-taking ability but do not have the tools and techniques. Our labour force is expanding by 1.5 per cent per annum and there is a great need for job creators rather than job seekers.” Dr Ishrat Husain – IBA Dean and Director
One of the key factors in assessing a business friendly country is to notice the rate of entrepreneurship development. However, the Global Entrepreneurship Monitor (GEM) Pakistan Report 2010 places Pakistan well below many of its peers in this respect.
According to the GEM report, “The established business ownership rate in Pakistan is 4.7%, which is less than the average rate for factor-driven economies (12.6%).” The report also highlights the fact that since Pakistan’s Independence in 1947 from British India, successive governments focused on the development of large-scale industries both in the public and private sector, and policies to promote entrepreneurship and small businesses were neglected. Continue reading ‘Supporting the Next Generation of Entrepreneurs in Pakistan’ »
Next week is Global Entrepreneurship Week, a worldwide celebration of the people whose big ideas drive innovation and create jobs. Join CIPE on Tuesday, November 13, from 10:30 AM to 12:00 PM EST, on the hashtag #GEWChat for a global discussion of how entrepreneurship contributes to economic, social, and democratic development. (Find out what time the chat will be in your country.)
Joining us will be CIPE partners and entrepreneurs from around the world, including:
Sarfaz Rahman is the CEO of Dawood Foundation, part of Dawood Group, one of the top family-owned businesses in Pakistan. He is a Chartered Accountant who has worked at Unilever, Glaxo Smith Kline, Pepsico, and Engro Foods.
EmprendeAhora is a program run by CIPE partner Instituto Invertir that teaches entrepreneurship and leadership skills to students in Peru.
Camelia Bulat is a CIPE consultant and the director of the Regional Center for Organization Management in Romania.
Rami Shamma is Project Manager for the Development for People and Nature Association in Lebanon, which works on youth entrepreneurship issues.
November 12th marks the beginning of Global Entrepreneurship Week, which is the world’s largest celebration of innovators and job creators who launch startups, bring ideas to life, drive economic growth and expand human welfare. Participating in the activities, the Center for International Private Enterprise’s (CIPE) field office in Pakistan will host a number of group discussions across the country. Targeting final year students and young entrepreneurs, the discussions will focus on determining the obstacles to entrepreneurship that exist and how to go about creating solutions. Sessions will be held in:
Karachi on November 12 at the CIPE Pakistan office.
Islamabad on November 13 & 14 in partnership with the Islamabad Chamber of Commerce and Industry
Peshawar on November 15 with a specific focus on gender in partnership with the Peshawar Women’s Chamber
Lahore on November 17 in partnership with Coffee Shop Gurus.