Entrepreneurship is the key
LET’S NOT BEAT THE DRUM OF ‘CREATE MORE GOVERNMENT JOBS.’ IT IS TIME WE SWITCH OVER TO ENTREPRENEURSHIP WHICH CAN HELP US ADDRESS THE PROBLEM OF UNEMPLOYMENT, SUGGESTS AAMIR ALLAQABAND
Let’s not raise slogans like `Create Jobs' and `increase salaries'. The idea of creating jobs, by itself is an extremely challenging proposition, if not completely irrational and illogical. It may not even be beneficial if more jobs were somehow actually created. Here's why: From a layman's perspective, think of the government as a contractor that the citizens hire and pay for basic amenities, like law and order, sanitation, healthcare, environmental regulation etc. The government has an income that comes from everyone in the society as taxes, and it also has expenses to hire labor and materials to provide the services. The general idea is that if everyone pays taxes, the benefits and services provided must also be aimed at everyone and not a select group. The problem with creating more government jobs than are needed is that government expenditure is wasted, and essentially everyone, including the unemployed people are paying for the salaries of these unwanted government positions. The government can only employ a small number of people and even in the best of times, this can hardly solve unemployment for even a small fraction of the populace. The government must not look at PROVIDING employment, but at FACILITATING employment. An extremely important tool that needs to be actively pursued is ENTREPRENEURSHIP, or Business Ventures and Self-Employment.
In the present scenario, business ventures for the youth and common folk are essentially limited to small-time retails stores. For an average person to take a plunge into entrepreneurship on his own is extremely challenging and risk laden. He has no business connections, no source, no supplier, no financial capital, no infrastructure, maybe not even a business idea, and most importantly, he has no way to tell if his product/service will actually sell in the market. And speaking of market, he doesn't even know what market to target. The role of the government here should be to lift the heavy weights for individuals to help them establish a business venture, thereby stimulating the economy and creating a major dent in unemployment. Below are examples of specific issues to target (Obviously it's assumed that a major entrepreneurship wing or department is established by the government that has experts with proven success):
1. Business Connections: The foremost challenge for a new business is establishing business connections. The solution to this would be to setup trade fairs like the Kashmir Expo (except that the Kashmir Expo seems too focused on handicrafts). The trade fair needs include mainstream trade(outside of handicrafts), like IT services and Software Development, food and agriculture, building materials, heating supplies, real estate dealing, consulting and so forth. And there needs to be a set of HIGHLY PROFESSIONAL and dedicated staff to help facilitate business connections (supply-demand requests, etc).
2. Counseling and Market Research: Yet another department is needed to work in sync with the aforementioned department to conduct widespread market research, to look for new avenues to target. After all, how much handicraft stuff does the world need? What other things are in demand? If I am looking to start a new venture, I want to have access to experts that can guide me. This department will need to work one-on-one with prospective entrepreneurs and also regularly hold group presentations and workshops.
Other things to address involve facilitating financial support, establishing a trade center, facilitating transportation of goods, and establishing infrastructure like highly reliable broadband internet.
The entire process needs to be so streamlined that if I think up a business idea before sleep, I can wake up next morning and head to the entrepreneurship wing as my ONE STOP DESTINATION to start a successful business venture. From market research data, to counseling, business connections and leads, bank loans, goods transportation to legal support and insurance, a solid support is sure to attract scores of unemployed people- both young and older, men and women, and help launch successful ventures.
Entrepreneurship is critical to addressing unemployment, especially in the current scenario when tourism is continually hampered by political instability. Business ventures and trading can go a long way in stimulating the economy and employment status of the state.
(Feedback at firstname.lastname@example.org)
Lastupdate on : Tue, 27 Apr 2010 21:30:00 Makkah time
Lastupdate on : Tue, 27 Apr 2010 18:30:00 GMT
Lastupdate on : Wed, 28 Apr 2010 00:00:00 IST
- MORE FROM OP-ED
Candidates smell conspiracy, seek VC’s intervention
Srinagar, Apr 27: Hundreds of students who have done their post-graduation in Mass Communication and Journalism from educational institutions in Kashmir are likely to miss the all-important State Level More
- Srinagar City
DIAGNOSTIC LABS DYSFUNCTIONAL
Srinagar, Apr 27: The patients are facing inconvenience in getting tests done from the Biochemistry and Pathology laboratories at SMHS Hospital due to shortage of staff there. Source said a considerable More
GK NEWS NETWORK
Jammu, Apr 27: Four persons, including two women were killed and 43 others injured in a mishap at Ramnagar Udhampur on Tuesday evening. Police said the ill fated bus (JK02K-3255) was on way to Patyari More
- South Asia
New Delhi, Apr 27: As Prime Minister, Dr Manmohan Singh was forced to delay his departure to Bhutan for the SAARC Summit due to IPL controversy and phone tapping issue, he got embroiled in another controversy More
- GK Business
Srinagar, Apr 27: Seeking to upgrade the skill of the carpet artisans, the Indian Institute of Carpet Technology (IICT) Srinagar under its Human Resource Development (HRD) has been offering many short More