77A s i a n We a l t h M a g . c o . u k

‘‘‘‘Attitudes, activity and growth aspirations are key drivers

to a successful career as an entrepreneur, says Sanjeev Ahuja a member of the global board of trustees for TiE.

According to the office for nAtionAl StAtiS-ticS, the UK’S gdP AnnUAl growth rAte, expanded by 1.9% in the third quarter of 2013 compared to the same quarter in 2012.

Sustained cuts in government spending, substantial inward investments, and tax relief for corporations and individuals collectively helped UK banks build up large liquid assets. these funds, when made available to local enterprise, enabled start-ups and established businesses to grow and innovate.

financial turmoil has catalysed simultaneous chain reactions within the political establishment and in the minds of our creative and enterprising younger generation. Painful austerity measures cost us a lot of existing jobs through cuts and business shutdowns, before the economy was healthy enough to create new jobs again.

Population growth projections paint an alarming picture – a steady reduction in the ratio of what is required versus what is available around the world, in jobs, energy, food, etc. the onS predicts that the UK population will increase to over 70 million in the next 15 years; more than half as a natural increase; the rest through immigration.

changing attitudes recognise “success” not only in terms of good jobs, but also in founding a company, or creating some-thing new for consumption by the burgeoning population. could ambitious immigrants further spur opportunity creation and economic growth, or would porous borders create increasing liability for our existing social programmes, and lead a depleted treasury to trigger higher taxation?

entrepreneurship must pick-up further pace; institutional environment to support it will have to adapt quickly at local,

national, regional and global levels, or risk missing out on the economic benefits of this unstoppable phenomenon. However, it takes more than just smart people with good ideas. entrepre-neurship education, timely mentoring and coaching, effective networking and a change in societal values are key factors in seeding an entrepreneurial mindset among the populace.

government policy must pave the way: new laws that promote the path to entrepreneurship are required, which are complemented by supportive financial environment and robust infrastructure, as well as relevant legal and commercial services.

while policy, regulations and government programmes to encour-age entrepreneurship are essential, cultural and social factors are fun-damental. An enterprising appetite can be dramatically influenced by attitudes and the extent of on-going activity. Migratory populations can be a leverage point; but it requires a robust, forward-looking, and equi-table immigrant policy. Ambitious migrants contribute to developing an environment within which entre-preneurship can thrive.

entrepreneurship is a multifac-eted and dynamic phenomenon that varies widely around the world. the impact of social values, political climate, economic priorities, and technology-driven upheavals, coupled with an increasing “migration sans frontières” will shape the future entrepreneurial landscape.

it is timely that we teach our youngsters to take charge of their own lives, setting higher goals and aspiring to achieve them, comfortable in the belief that they have our support not just financially but also in attitude towards their endeavour.

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