Were you caught unawares by the global financial crisis? Were you affected by the mass retrenchment that swept though the globe? Are you living in the fear of financial uncertainty? Are you prepared to take your destiny into your own hands? If your answer to any of the questions above is yes; then you are going to find this article useful and informative.
“Control your destiny or someone else will.” – Jack Welch
Welcome to this business blog. This happens to be the first article on this blog so I will do my best to keep my message engaging. Today, I will be sharing with you the need for entrepreneurship development as a measure to curtail the harsh effect of the global financial crisis.
This business blog was developed out of a need to encourage individuals to take their destiny into their hands. Everyday on TV; I see millions of people being laid off all over the world, I see people holding on to penny paying jobs just to keep body and soul together.
Everyday, I see able bodied men and women scrambling for low paying jobs and I feel sad. Despite being in the eye of the storm of the financial crisis, I think there’s a way out and that way is entrepreneurship. That’s the sole reason why this business blog was created; to take you by the hand and guide you into financial independence.
“We have got to start grooming people to own businesses. That’s the only way to keep the money in the community and provide jobs for the people.” – Spike Lee
Now why am I advocating the need for entrepreneurship development as a measure to curtail the effect of the global financial melt down?
“To build wealth today, you must be in your own business.” – J. Paul Getty
I am advocating the need for entrepreneurship development because it’s the ultimate solution to restoring the economy to its former glory; regardless of the country, whether Nigeria, USA, China or Sweden. It’s an excellent solution to combating the rapidly increasing unemployment rate.
I am not writing article to lash the government because of the way tax payer’s money is being spent in the form of bailouts. Many individuals and experts have already done that but their efforts yielded no result. I am equally not writing to encourage the government to start businesses and employ people. The government has no business running a business.
Instead of wasting my time crying over split milk, I want to focus on you; I want to focus on helping you gain financial freedom even in the heat of the financial crisis. I am writing to encourage you to start your own business today.
“Most people spend their lives building financial houses of straws, which are susceptible to wind, fire, rain and big bad wolves.” – Rich Dad
“Why don’t you go to school and get a job? My answer to that question is this; I will get a job if only you can show me one that will help me become a billionaire. Unfortunately, the only job I know that can help me achieve that dream is entrepreneurship and it doesn’t require a college degree.” – Ajaero Tony Martins
By starting your own business; you will not only wriggle your way out of the financial crisis but you will also lend a helping hand to the government and help other individuals live through the crisis. By choosing to embrace entrepreneurship development and start your own business; you can reduce the effect of the financial crisis in the following ways.
Global Financial Crisis and the Need for Entrepreneurship Development
Just like I stated above, the way out of the financial crisis is to start your own business. By choosing to start your own business, you can:
1. Create jobs through the formation of new business ventures
Sometimes I wonder where we would have been if 50% of the money given to the big banks as bailouts was given to Venture Capitalists and Entrepreneurship support institutions. If that was done, I am sure the rate of unemployment would have been drastically reduced.
“Most new jobs won’t come from our biggest employers; they will come from our smallest. We’ve got to do everything we can to make entrepreneurial dreams a reality.” – Henry Ross Perot
2. By embracing entrepreneurship development and starting your own business; you can utilize available manpower and resources that might have remain idle and put them into productive use.
3. Entrepreneurship development makes it possible for individuals to create wealth, independence and status for themselves. Today, it takes nothing to become a billionaire. Imagine youths like Mark Zuckerberg becoming billionaires overnight with ease; that’s the potential entrepreneurship holds for those who embrace it.
4. Entrepreneurship development will stimulate growth in other sectors of the economy with an increase in the gap between demand and supply.
5. Entrepreneurship development must be massively supported because it’s the major driver of creativity and innovation; it will also increase productivity by means of innovation.
6. Entrepreneurship development will facilitate and increase the need and demand for technology.
7. More importantly; entrepreneurship development can boost the nation’s economy by increasing the GDP and reducing the unemployment rate.
8. And lastly, entrepreneurship development will drastically reduce dependence on social security and Medicare.
As a final note, I hope I have been able to throw more light on the need for individuals to embrace entrepreneurship as a way of life and a means to better the society. I also want to use this medium to encourage those who desire to start their own business but are being held back by fear to take the leap of faith and start a business.
The major challenges of entrepreneurship are usually in the startup phase. Once you strive to grow your business and survive the startup stage; you are half way there.
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