Week 3ECONOMIC DEVELOPMENT AND ENTREPRENEURSHIP IN PAKISTANThis presentation demonstrates the new capabilities of PowerPoint and it is best viewed in Slide Show. These slides are designed to give you great ideas for the presentations youll create in PowerPoint 2010!

For more sample templates, click the File tab, and then on the New tab, click Sample Templates.1ECONOMIC DEVELOPMENT AND ENTREPREUNERSHIPGEM Groups of EconomiesGEM: Global Entrepreneurship Monitor 1FACTOR-DRIVEN 2EFFICIENCY-DRIVEN 3INNOVATION-DRIVEN3

PAKISTANEntrepreneurship in Pakistan 6 Firm structure is dominated by sole proprietorship and most are family run businesses with no culture of taking it to the pubic (IPOs).Small And Medium Enterprises (SMEs) with less than 100 employees constitute nearly 90% of all 3.5 million private firms that `employ 80% of the non-agricultural labor force; and their share in the annual GDP is 40%.Entrepreneurship in Pakistan

7 The historical evidence clearly indicates that, in the context of Pakistan, when one talks about industrialization, for most people it implies large plants and factories run by machines and employing a large number of workers. A review of the past 6 decades of Pakistans development priorities reveals that entrepreneurship has never been the focus of economic development plannersEntrepreneurship in Pakistan Challenges

8Entrepreneurship in Pakistan Opportunities

Majority of the youth entering the labor force over the next two decades will have little education and skills catering to market demand. Moreover, continuous shocks to the economy such as energy crisis, international commodity price shocks, security issues, and floods have left little resilience in the economy and absorption capacity for growing youth labor force.

This required a rethinking about the sources of growth in Pakistans context and entrepreneurship has the greatest potential to fill this gap.

Entrepreneurship in Pakistan Opportunities

In eight years, between 1999 and 2007, Pakistan had increased R&D investment by 600% .

Number of researchers in Pakistan has grown from 187 per million in 2005 to 310 in 2007. Though Pakistan suffered significant economic challenges, there is still considerable R&D capacity in the nations universities and institutions, particularly in the science and technology focused programs

This new capacity can be converted into new innovative entrepreneurship opportunities, economic growth and wealth creation by linking it with better trained young entrepreneurial minds.

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