Encouraging the Next Generation of Entrepreneurs
1
‘‘ ‘‘ In his second column, TiE UK president Dr Sanjeev Ahuja discusses converting individual ambitions to economic growth and prosperity for a nation. THE WORLD HAS WITNESSED A WAVE OF GLOBAL ECONOMIC CHANGE, accentuated by the longest reces- sion in 75 years. Though slow in coming, the overwhelming response has been both intuitive and obvious. Governments scrambled to ‘plug the hole’ to tighten regulatory oversight of banks and financial institutions, even as they increased liquidity in the markets to jumpstart the economy, revive a decimated job market, and regain control. Aiming to alleviate a host of unpleasant side effects, among them a growing disquiet amongst the younger generation deprived of job opportunities, there has been a determined effort by the UK government to kin- dle renewed focus on entrepre- neurship. This has resulted in numerous well-funded direct programmes, as well as public- private partnerships and visible efforts by volunteer organizations, such as TiE UK, to encourage start-ups and small enterprises. Common sense suggests that entrepreneurship must play a significant part in the global response to counter the effects of this recession and arm the populace with the ability to bet- ter control its effects on them in the future. Is it then solely the state’s responsibility to look after the economic welfare of its people, or should the younger generation be encouraged to exercise some autonomy in taking back control of their own well-being? For governments, it should not be about crafting elaborate laws to address an often inherently dichotomous political agenda, but rather accommodation of a few practical amendments to the existing laws, offering greater latitude and incentive for entrepreneurial initiative and innovative ventures. This realisation comes from observing countries like the US where policy has encouraged entrepreneurship to the point where today it has become part of the people’s DNA; govern- ment policy nourishes that desire. The desire for entrepreneur- ship is also apparent across developing nations in Africa, Asia, and Latin America. It is obvious that those living in the luxury of robust economic contexts have, over generations, witnessed an erosion of the entrepreneurial spark and hunger to succeed, leaving deep rooted complacency and a sense of entitlement in its place. The US is a stark exception, but that can be easily explained due to inherent attraction of disproportionate wind- falls through entrepreneurship and ubiquitous opportunity to realise it in that country. Reflecting on the philosophy of the 18th century writer Jean- Jacques Rousseau, TiE UK proposes that in the context of today’s economic realities, entrepreneurship must become part of our social contract. The UK should look not for accept- ance, but appeal to the general will of the next generation, which is to take control of their own well-being. The older, experienced generation must not seek self aggrandisement through helping our younger generation. Rather we can bask in the resulting self-contentment while not needing or expecting anything back. This is our call; to be simultaneously, absolutely, and selflessly committed to their collective interests. In the next issue, we will cover attitudes, activity, and growth aspirations as key factors in encouraging entrepreneurship, and what should be the essentials of a holistic government policy. uk.tie.org TiEUK Encouraging generation THE NEXT PHOTOGRAPH BY PHILBOURNE.COM 77 AsianWealthMag.co.uk
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In his latest column for the Autumn Issue of the Asian Wealth Magazine, Dr. Sanjeev Ahuja discusses the role of individual ambitions in driving economic growth and prosperity for a nation.
Transcript of Encouraging the Next Generation of Entrepreneurs
‘‘‘‘In his second column, TiE UK president Dr Sanjeev Ahuja discusses converting
individual ambitions to economic growth and prosperity for a nation.
The world has wiTnessed a wave of global economic change, accentuated by the longest reces-sion in 75 years. Though slow in coming, the overwhelming response has been both intuitive and obvious.
governments scrambled to ‘plug the hole’ to tighten regulatory oversight of banks and financial institutions, even as they increased liquidity in the markets to jumpstart the economy, revive a decimated job market, and regain control.
aiming to alleviate a host of unpleasant side effects, among them a growing disquiet amongst the younger generation deprived of job opportunities, there has been a determined effort by the UK government to kin-dle renewed focus on entrepre-neurship. This has resulted in numerous well-funded direct programmes, as well as public-private partnerships and visible efforts by volunteer organizations, such as Tie UK, to encourage start-ups and small enterprises.
common sense suggests that entrepreneurship must play a significant part in the global response to counter the effects of this recession and arm the populace with the ability to bet-ter control its effects on them in the future. is it then solely the state’s responsibility to look after the economic welfare of its people, or should the younger generation be encouraged to exercise some autonomy in taking back control of their own well-being?
for governments, it should not be about crafting elaborate laws to address an often inherently dichotomous political agenda, but rather accommodation of a few practical amendments to the existing laws, offering greater latitude and incentive for entrepreneurial initiative and innovative ventures.
This realisation comes from observing countries like the Us where policy has encouraged entrepreneurship to the point where today it has become part of the people’s dna; govern-ment policy nourishes that desire. The desire for entrepreneur-ship is also apparent across developing nations in africa, asia, and latin america. it is obvious that those living in the luxury of robust economic contexts have, over generations, witnessed an erosion of the entrepreneurial spark and hunger to succeed, leaving deep rooted complacency and a sense of entitlement in its place. The Us is a stark exception, but that can be easily explained due to inherent attraction of disproportionate wind-
falls through entrepreneurship and ubiquitous opportunity to realise it in that country.
Reflecting on the philosophy of the 18th century writer Jean-Jacques rousseau, Tie UK proposes that in the context of today’s economic realities, entrepreneurship must become part of our social contract. The UK should look not for accept-ance, but appeal to the general will of the next generation, which is to take control of their own well-being.
The older, experienced generation must not seek
self aggrandisement through helping our younger generation. rather we can bask in the resulting self-contentment while not needing or expecting anything back. This is our call; to be simultaneously, absolutely, and selflessly committed to their collective interests.
in the next issue, we will cover attitudes, activity, and growth aspirations as key factors in encouraging entrepreneurship, and what should be the essentials of a holistic government policy.
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77A s i a n We a l t h M a g . c o . u k
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