According to The World Bank, 75 million people ages 16-24 are unemployed around the globe. That's nearly double the entire population of Central America. The lack of jobs usually indicates a shortage of entrepreneurs. Entrepreneurs don't look for jobs, they create jobs.
The economic success of developing nations hinges on whether or not they encourage and reward the spirit entrepreneurship or simply wait for more handouts. Entrepreneurs can put an end to the systemic poverty that has plagued many countries for so long.
Entrepreneurs have always served as the spark plug for every economic engine worldwide. The fuel this engine runs on, is a country's natural resources or the unique location it has been blessed with. However, for lubrication, the economic engine relies on government policies and programs that support and encourage entrepreneurship.
The Insurance Against Unemployment
The best employment insurance program a country can have, is to invest into the lives of young people...encouraging, equipping and motivating them to become entrepreneurs. Unemployed person tend to have a lower self-esteem which makes it even more difficult for them to find a job. When there are no jobs to be found, the only alternative is to create them.
Unless developing countries put forth a serious effort to support young entrepreneurs, out-migration and the resulting brain-drain will continue curb the growth of their economies. We must create incentives for them to stay.
When I am speaking to young people in developing countries, my message is: "Stay home. You can be successful where you are. The grass is not always greener on the other side of the fence. You can make a difference and have an impact right where you are."
Knowing How To Fish Is Not Enough
It's not enough to teach people how to fish...we must educate, motivate and inspire them to start fishing businesses that create jobs and not only feed their families but transform their communities. That way they have a reason to stay home and transform their own communities instead heading abroad for greener pastures.
The prosperous countries in the world are always the ones that have the most entrepreneurs and an infrastructure that encourages and motivates young entrepreneurs to take risks and launch new enterprises.
It Takes The Right Mindset and The Right Skillset
A society can only rid itself of a victim mentality and take on an abundance mindset to the degree to which it rewards and encourages entrepreneurial activity. The more entrepreneurs, the fewer victims. The fewer victims, the less poverty and corruption.
In recent years, economists have come to realize that entrepreneurship is a key element of economic activity. Big corporations are no longer viewed as secure source of employment creation as in the past.
10 Reasons Why Every Developing Country Needs Entreprenuers
1. Entrepreneurs are creative. They see a need and quickly find a way to meet it. The fact something has not yet been done is all the more motivating for an entrepreneur.
2. Entrepreneurs are motivated. They are also energized and willing to take risks with their own money and with the investment of others. Their ideas trigger the sale and production of new innovative products and services.
3. Entrepreneurs create jobs. It is the entrepreneur who is not satisfied knowing how to fish, but rather wants to have his own fishing business in search of profit thereby satisfying unsatisfied needs and creating jobs in the process.
4. Entrepreneurs are developers. They are capable of bringing together the funding, raw materials, manufacturing facilities, skilled labor and land or buildings required to produce a product or service. They are also able to arrange the marketing, sales and distribution of their product or service.
5. Entrepreneurs are positive and optimistic. They don't have a victim mentality and believe success is possible without having go abroad to find it. Tough times don't last, but tough entrepreneurs do!
6. Entrepreneurs are future oriented. They believe that success is possible and are willing to risk their own resources and reputation in the pursuit of profit. They believe that the future will always be better than the past.
7. Entrepreneurs move fast. They are willing to try many different strategies to achieve their goals of profits. And they're flexible, willing to change quickly when they get new information.
8. Entrepreneurs are generous. They freely give of their time, talent and treasure to those less fortunate or just starting out. They know that they have a duty to give back to their communities.
9. Entrepreneurs are grateful. They know that they have been blessed and spend more time counting their blessings than complaining about their challenges. They know that thanksgiving is key to prosperity.
10. Entrepreneurs think outside the box. In fact, their first inclination is to blow up the box. They see opportunities that others don’t, they try new ideas that others are afraid to, and they take risks that others wouldn't dare to. This takes courage, persistence and the determination to keep going despite criticism, rejection and skepticism.
Entrepreneurs are a national resource, that should be protected, nourished, encouraged and rewarded. They create most of the wealth, jobs, and prosperity in a nation. They're the most important people in a market economy--and there are never enough of them.