Letters

We must empower young entrepreneurs

Dear Editor,

The presence of entrepreneurship is vital to the economy of The Bahamas. Entrepreneurs are the ones that stimulate job opportunities. They are the individuals that will stand at the forefront of innovation in the country. They are the brilliant minds that are crucial for competitiveness on both a national and international scale. We must realize that if we fail to empower them, we will fail to empower our future.

When we talk about young entrepreneurs in The Bahamas, we are talking about the individuals in our nation that are often overlooked but yet are the people that are dreamers, thinkers and doers. The empowerment of business minds would reflect positively in Bahamian-led philanthropic efforts. On a daily basis, these individuals prove to us that you will fall down ten times but you must get back up eleven times no matter the circumstances. Perseverance is essential.

By becoming an entrepreneur, that is one less unemployed person; that is one person that can create a business venture that generates a vast variety of job opportunities for others. This continuous and impactful system contributes to lowering the unemployment rate throughout our Bahamaland. We will see a drastic change in our standard of living if we implement the innovations that are developed or adopted by young entrepreneurs. The time to empower our young entrepreneurs is now. It should not be solely up to the government to come up with great ideas to increase the quality of life in The Bahamas.

Entrepreneurs are natural innovators. They are bound to introduce endless ideas and strategies that can change the lives of many Bahamians. For far too long, avant-garde ideas for community and economic development have been monopolized by either the government or foreigners. It is time that we create platforms for young Bahamians to introduce their ideas and work on making a wild dream into an amazing reality.

If we take a look at our neighboring country, the United States, we would notice that most of the groundbreaking innovations introduced to improve the convenience of our daily lives and maximize efficiency did not come from their government but, rather, entrepreneurs and oftentimes young entrepreneurs. Take a look at business powerhouses that were not created by the U.S. government.

Uber was created by two like-minded entrepreneurs. Microsoft was birthed by two young brilliant and ambitious college students. Finally, Amazon was founded by a thirty-year-old aspiring entrepreneur. All of these companies had the same foundation in mind – simply to improve convenience as we know it and to provide employment for millions of people across their nation.

Young businessmen and businesswomen will play a big role in helping to diversify our economy. Through their empowerment, they will have the opportunity to see their innovative ideas come into fruition and bring sheer heart into new industries. By giving entrepreneurs a voice and platform in our society, we would also make a variety of professions relevant and in demand. Consequently, atypical aspects of entrepreneurship would come alive. We would see an influx in career choices that aren’t as popular in our society, such as entrepreneurs in the technical and agricultural field. More agricultural entrepreneurs create more opportunities for farm workers and the cycle continues.

Entrepreneurs in the manufacturing field create a new avenue for Bahamians to venture as technicians, engineers, assemblers, truck drivers and more. Entrepreneurship can also add an important factor to economic development, which is export. As businesses begin to sprout, the opportunities to expand into a foreign market will arise, allowing new export markets for the country and leading to currency inflows. Furthermore, this would allow us to easily access new technological strategies that are used by more developed countries.

All in all, we must empower our young entrepreneurs and give them the opportunity to spread their wings and create jobs for our students that are studying in various fields, that find it difficult to find employment at home simply because there is not a demand for their profession. Peter Drucker once said, “Entrepreneurship is neither a science nor art. It is a practice.” It is important for us to afford entrepreneurs the opportunity to practice in order to make a change.

 

– Bryant Lowe

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