‘‘‘‘59A s i a n We a l t h M a g . c o . u k

Dr Sanjeev Ahuja, the president of TiE UK, in the first of his regular AWM columns, tackles some of the big questions on

entrepreneurship as a means for social change in 2013.

TiE UK is ThE BRiTish officE of ThE woRld’s larg-est global non-profit organisation fostering entrepreneurship. Its raison d’être is to raise awareness about the importance and benefits of entrepreneurship, encouraging it as a profession of choice rather than a fall back, and in the process enabling the next generation of self-empowered men and women.

With 62 chapters and 13,000 members in 18 countries across five continents, TiE is singularly focused on entrepreneurship as a unique vehicle for self-reliance and sustainable wealth creation. Its charter members, all established entrepreneurs or senior professionals, guide aspiring and established entrepreneurs on busi-ness issues through mentoring and coaching, developing their skills through education, and linking entrepreneurs across its extended community though effective net-working at hosted events.

Our firm belief is that entrepre-neurs act as a catalyst for growth in the expanding global marketplace.

Economic success on the back of successful entrepreneurship builds businesses, and as the business pushes forward it offers employment to people who innovate to address demand by recognising and fulfilling additional needs, further contributing to the success of the business.

This is the virtuous circle of thriving businesses in a healthy economy; as they make their way up to the crest of a market cycle aggressively maximising positive returns.

During good times the larger the business means the bigger the fortune. However, in bad times it can mean the bigger the misfortune. Irrespective of the reasons, after the crest of a market cycle comes the inevitable trough. Where focus is on

productivity when the demand is high, it shifts to cost reduc-tion when demand is low. Falling profits set off efficiency improvement drives – businesses strive to do more with less. Employees are subject to what may seem like indiscriminate layoffs and innovation grinds to a halt.

This is the vicious circle of declining businesses in a struggling economy; as they move to the trough of a market cycle while striving to maintain meagre returns.

Where is today’s job security when faced with the risk of “right sizing”? Employment is risk-prone. It also contributes to stifling our pilot-light of entre-preneurship by: 1) encouraging dependence on an employer; 2) appealing to our innate sense of risk aversion; and 3) weakening the creative thought necessary for recognizing opportunity. Risk can be transferred but not eliminated. Many think it can be reduced through employment; yet devolv-ing our responsibility to influ-ence its outcome brings with it a misplaced sense of security.

In the next issue, we will reflect on some seminal issues around entrepreneurship, and look forward to being part of the conversation. We’ll explore the answers to questions such as: Can entrepreneurship address the deep rifts of ever-widening segregation between the haves and have-nots in society? What is driving entrepreneurship as a means to empower women? Is it the State’s responsibility or should we be taking back control of our own economic welfare? Could entrepreneurship be the solution to address the ills of our polarised society?

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