Developing Entrepreneurship

World Entrepreneurship Forum brainstorms the elements of developing entrepreneurship in countries across the globe.

The World Entrepreneurship Forum is an organization that engages in research and advocacy for entrepreneurship, with the aim of facilitating valuable entrepreneurial exchanges between people across the globe.

During the 2008 Forum the World Entrepreneurship organisation brainstormed what they thought were important elements for a country to develop and foster entrepreneurial activity. These recommendations are guidelines to growing and inspiring the development of entrepreneurs in the world.

Regulations that facilitate Progress
Having a business idea is one thing. Trying to register a company, sorting out tax procedures and licences to start the process of establishing a business can be quite another. Creating an enabling environment for entrepreneurs to set up their businesses in terms of reformed regulations would go a long way to making it easier, faster and less costly for entrepreneurs to set up enterprises.

Entrepreneurial Support Institutions
Centres (not unlike a library) that are dedicated to business entrepreneurship would also help to foster an entrepreneurial environment. Support structures such as institutions that provide avenues of access to information, technology, business know-how, and capital could be a valuable tool for every entrepreneur.

Good Governance as an Example
Proper governance is a key aspect of enabling business to thrive. Responsible and sustainable govenments would go a long way in harnessing the potential of aspiring entrepreneurs. By creating stable environments for business to develop, governments would open opportunities and possibilities for entrepreneurs to succeed.

Positive Attitudes towards Entrepreneurship
Fostering positive and proactive attitudes towards entrepreneurship is an important step in development. As our Africa Report Entrepreneur, Josephine Okot from Uganda said “If I don’t do it, who will do it for me?”. Entrepreneurship is the new way forward in terms of building yourself the future that you envision.

Teaching Practical Skills for Entrepreneurship
Including entrepreneurial activities in school curricula would be a way to promote the development of skills related to business. Developing entrepreneurial awareness at an early age would encourage both children and adult to see themselves as agents of change.

Empower Disadvantaged Groups through Entrepreneurship
Support programmes that specifically target women, minorities and other disadvantaged groups. Programmes and policies should be directed towards incorporating those who have no had equal opportunity in the past.

Understanding Entrepreneurship
Developing an understanding of what entrepreneurship is all about would help people to develop their own potential. Being an entrepreneur is about being an agent of change, by taking steps to build your own world and future. It’s about noticing what’s happening around you and seeing where you can contribute to support yourself and your community.