What is entrepreneurship? How do you become a successful entrepreneur? Who are the heroes we can look at as examples of entrepreneur success? And what are the factors that affect entrepreneurship.
This is the act of creating a business or businesses while building it to generate a profit. This is the process of creating an innovative product or presenting a new-life-changing solution.
Entrepreneurship dos not involve people taking their career and dreams into their hands and lead it in the direction of their own choices. It is all about building and creating a life on your own.
An entrepreneur is a person who sets or start up a business with the aim of making profits. This is regarded as someone who starts a side hustle that can eventually create a full-time, reliable and sustainable business with employees.
He or she is considered as an entrepreneur because where you start out isn’t where you will end up. Meanwhile, this involves much more than being a business or job creator.
All in all, entrepreneurs are the most powerful world transformers and they are in position of taking an idea and execute on it.
Entrepreneurship and the Youths in Malawi
The government of Malawi is doing all the best on entrepreneurship to end youth unemployment crisis.
As reported by the Nyasa Times, entrepreneurship schemes can promote skills in young people with the aim of creating and managing sustainable and efficient businesses capable of providing permanent jobs and employment growth.
As recorded by the Nyasa Times, Minister of labour, youth, sports and manpower Development Francis Kasaila said government is focusing on providing entrepreneurship skills to enable youths carry out some small sale businesses rather than providing employment to them.
‘The youth’s should start considering entrepreneurship as a career choice, instead of looking to be absorbed into the already compacted job market,’ Kasaila said.
‘The government has put in place the necessary institutions and policies for youth development, my Ministry and the National Youth Council of Malawi are two government agencies mandated to coordinate youth activities in the country,’ emphasised Kasaila.
Kasaila assured all the youths to take into consideration all their recommendations concerning entrepreneurship.
Factors affecting entrepreneurship
As long as culture is concerned, most people believe that entrepreneurship is for the youths only, which is complicating things. As such, older people think there is no more chance for them hence failing to start-up businesses and become big businessmen all in the name of age.
People who are well to do, middle class and poor people are all found in Malawi. Be as it may, most well to do people keep on growing in business and become big entrepreneurs while the poor their stand remains the same. The poor always have that mentality that they cannot do well in business but the rich, which is completely wrong.
Attitude towards work and achievement
Africans specifically Malawians have that mind-set that they were born to be employed and work in offices and earn a living. They don’t believe in self-employed. They do not even know that there is no work that can produce a lot of profits at the end of the day than what an entrepreneur can produce per day. All people we see doing well are born fighters of entrepreneurship.
In a nutshell, entrepreneurship is about execution of ideas.