Entrepreneurship for development
What’s the use of having high literacy when most literates have to go abroad for jobs? What’s the use of building infrastructure when we don’t have enterprises that can make use of it? Why should we boast about our country’s resources when we can’t make use of them?
When we talk about development, we chatter about literacy rate, infrastructure and political stability. But is there some other things that contribute equally, if not more, towards the development of a nation missing on the list? An important topic that we often miss out on is entrepreneurship. Let me elaborate on how entrepreneurship, a critical ingredient for development, is missing in Nepal:
Mount Everest & Buddha Vs Binod Chaudhary
I am a proud Nepali, and I love to boast about Buddha and Everest. But I also live in a country where Wai-Wai is made. Foreign investors would not invest in Nepal only because we have Everest and Lumbini. They might, however, think about it after learning that Binod Chaudhary made a billion dollars doing business in Nepal. I do not say that heritages such as Lumbini don’t count –in fact they do. But they are not our only identity, and that is not just what leads to development.
We need not just foreign investors, but local ones too. After Chaudhary’s success, many Nepalis now aspire to become billionaires. Looking at how he made it, we have that confidence in the market, don’t we?
Yes! it is just like the ‘the axe effect!’ People talk negatively about copied businesses. But I disagree with them. Competition is always good for the market as well as the consumers. It leads to development of an industry. For example, when I started Sasto Deal, I had very few competitors. But now, e-commerce companies are mushrooming. I am well informed that many of my competitors are inspired by the work I have done. Does that mean I should frown and stomp them away? Well, no! Competition uplifts an infant industry. As the industry gets richer the industry, so do the companies. When companies do well, the country also benefits.
People need a platform to create wealth. Look at what’s happening in Nepal. Students are spending large sums of money on education. But when they graduate, they do not get jobs. To get returns on their investment, they have no option but to seek jobs abroad. Had there been enough jobs in the country, don’t you think most of them would stay back? All we need here is a platform to create wealth. All the taxes businesses and individuals pay, contribute to development. Forget about the taxes. Think of how Nepal could flourish with all our educated people staying in the country.
Businesses made others wealthier, and we are no different
United States became powerful not because of Statue of Liberty, but because it has Silicon Valley and companies such as Apple Inc, General Motors and Google. India did not rise because of Taj Mahal, it did so thanks to Tata, Ambani and Birla.
Take a look at all these power houses and you’ll see that it’s not just about resources, it’s about companies and people. They are the ones making use of those resources to create wealth. And we should look to do no different.