The failure of one entrepreneur represents a great loss to the nation and society. A loss of opportunities to create wealth. A loss of opportunities to create new jobs. A loss of opportunities to improve GDP and also to improve the quality of life of some citizens if not all.
"The failure of one entrepreneur is a national tragedy."
Uzo Nduka
Lagos, Nigeria
An entrepreneur's fish pond at lunch time.
"The failure of one entrepreneur is a national tragedy."
Uzo Nduka
Lagos, Nigeria
An entrepreneur's fish pond at lunch time.
While I agree completely that the nation's economy suffers when an entrepreneur fails, I also feel that some of the responsibility rests on the shoulders of the entrepreneurs themselves.
ReplyDeleteEntrepreneurs owe it to their employees, customers and the nation in general, to succeed. It is their responsibility, and theirs alone, to research best practices, develop plans and run their businesses with integrity.
Look around Nigeria today, how many Entrepreneurs have clearly thought-out strategic plans for their organisations? Or even Business Continuity Plans? Less than a handful, if any at all.
Like the saying goes - "You can take a horse to the river, but you cant force him to drink".
The Nigerian government and the International Aid Community could spend decades trying to create a conducive business environment for SMEs to flourish, but it will all come to nought, if the entrepreneurs themselves are not disciplined in the way their manage their businesses.
Hello DoreenMaria, I do not regard anyone who does not intend to build a business enterprise as an entrepreneur. They might be inventors, artists, scientists, professionals or very gifted people, but, not entrepreneurs. Such people have little to contribute in this particular field of business. May be in other fields but not business. Such people require different type of enabling environment and need to connect with entrepreneurs otherwise what they create or produce cannot benefit society on any meaningful scale.
ReplyDeleteEntrepreneurs must create business enterprises that transform ideas, inventions, intellectual property and other resources into products and services that have real commercial value.