Number of jobs around the world are decreasing as the human population is continuously rising. The good thing is people are now looking for alternative means to earn a living. This has paved the way for Entrepreneurship. It is a business, run by some number of people in a small organization to approach to next level.
Entrepreneurs are hired by the organization and the industry or organization is not so huge that they have a lots of product. Entrepreneurship starts from a single piece like dealing with two to three peoples and then the number of people increased as organization got more products for sale or thing like that. Entrepreneurs also work from the boundaries of their homes to run a small business.
Entrepreneurship in Pakistan
Pakistan is in 25th largest in terms of purchasing power and in Gross Domestic Products, Pakistan’s export product rate is high than the import’s product. That’s why our economy is not very stable. In practical terms, Pakistan’s economy is improving from the last two decades. Entrepreneurship is the best way to improve Pakistan’s economy. There are two type of entrepreneurships. One in which there is a low investment and other one is in which there is a high investment. Many businesses in Pakistan include these two types of Entrepreneurship. Whether its low or high investment depending upon the product and startup of an organization or industry.
Low investment business can be a teaching center or a small shop selling clothes, books, flowers or something else. Event management is also a good option for entrepreneurs, which now quite popular in Pakistan. People have their management teams who are organizing events like wedding, birthdays, caterings, conferences or Photo shoot events, which are helping them to earn money by easy mean and with low investment. There are also high investment businesses like export and import industry, web designing, web working, logic designing industry, software house. If these businesses are to be hold then it would be better for Pakistan’s economy like now a day’s export and import industries in Pakistan are on High level business.
Urban cities may be an attraction for new startups, but it is often smaller towns that offer fertile grounds for opportunity and innovation. According to the study, titled GEM-Pakistan Report 2011, the number of individuals expected to start their own businesses was highest in Khyber-Pakhtunkhwa and Balochistan, as compared to Punjab or Sindh. While Punjab possessed the highest number of established business owners and traditionally possessed the highest early stage business survival rate and a low business closure rate, it was Balochistan, Pakistan’s poorest province that reported the highest nascent entrepreneurial activity. K-P, meanwhile, possessed the lowest business closure rate in the country along with the highest level of opportunity-based entrepreneurship, according to the report.
It’s a good trend in Pakistan that youngsters are now opting for entrepreneurship and this trend will only grow in coming years. We, simply need to improve our planning and implementation capabilities to world-class standards.
by: Abeer Arshad
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