Environmental factors preventing aspiring entrepreneurs from becoming a
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There will always be challenges in any entrepreneurial activity since entrepreneurship at its core is meant to solve the pressing and hard to solve problems of the market. However, some markets are known to have inherent challenges that hold back aspiring entrepreneurs before they can even dream of building a successful startup. It is often difficult to overcome such limitations, but not impossible. The two factors mentioned below explore the intrinsic issues facing aspiring entrepreneurs and their implications for the development of entrepreneurship in the country.
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The culturally rooted notion of status
Looking at the ancestral history of many developing countries, they were marked by aristocracy and colonialism like British or French rule. Being at the mercy of unknown, suspicious and treacherous masters has caused deep wounds in their psyches, so that even now working class people dream of freedom from poverty, disrespect and depravity.
Moreover, it is a pride and an achievement for today’s generations to have white collar jobs. As they begin to earn monthly salaries, the next logical step is to show themselves to society as having freed themselves from poverty. Their spending behaviors are likely lavish relative to their income, as their thirst for freedom is satisfied by more luxuries than they can ill afford.
The negative side of wanting a white-collar job has led to a shortage of skilled labor in many economies. Jobs like plumbing, sewing, milling, carpentry, painting, tilling the floor, and washing cars are no longer a job of choice or even a necessity. Instead, these jobs are commoditized as jobs associated with poverty.
Basically, the education system has failed to adequately train the young workforce with vocational training. Moreover, the need and propensity of households to support these skills is also detrimental. Pursuing higher education and landing a white-collar job became a simple goal.
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The superfluity of education and support for entrepreneurship
The curriculum of the higher education system in most countries is still based on the industrial age. Unfortunately, creativity is not well gathered among students, especially in their early years of formal education. Therefore, when students opt for entrepreneurship at the tertiary level, they hardly become entrepreneurs. Instead, they join high-paying corporate jobs displaying their “versatile” attitudes and abilities through their certificate in entrepreneurship. Additionally, only top-tier universities provide world-class holistic and superior education for entrepreneurship students to utilize the learnings and become world-class entrepreneurs.
In this blind view of professional growth caused by faulty education, we have overlooked the importance and potential of entrepreneurship. Young people have become mere job seekers and hardly aim to become job creators. They are unaware of the long-term, macro-level benefits of self-reliance and self-employment. Also, a good education is probably the most effective antidote to a situation like this.
In a nutshell, the two factors boil down to fear of failure, lack of resources, and the toil attached to the idea of entrepreneurship that prevents us from reaping the lasting and massive benefits. It’s time to take stock of blindsight and the concept of career growth and success. As some brave people take a leap of faith, it hopefully inspires others to follow suit and make change.
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