Lack of entrepreneurship in pakistan

[Secularpakistani]

In Pakistani society on a birth of a daughter her parents dream of making her a doctor one day and on a birth of a son his parents want him to be an engineer. It is good thinking indeed which is responsible for the presence of many doctors and engineers in this country but what the overall economic prosperity of this country?What about producing those individual entrepreneurs who know how to start and successfully manage their own businesses in different industries which will boost the economic performance of Pakistan?Entrprepreneurship is the driving engine of the economy.We really lack the skill of entrepreneurship in Pakistan. We can see few people here who are successfully managing and who created their business empires but few of them have educational qualifications in the field of business and entrepreneurship. I lived in Russia for almost one year and over there I saw a very different attitude of people on choosing a profession. They just follow their passion that’s why in such developed nations every industry is performing at its best because most people love what they do. No country can achieve its economic goals without having the healthy business environment. USA and other developed western countries are the best examples because they have plenty of good entrepreneurs who contributed in the economic well being of their country. We really need to change this attitude and should promote entrepreneurship in Pakistan. And parents should allow their children to choose what they want to be. There are hundreds of other professions but I wrote on entrepreneurship because this is one important skill for the development of this country which is not present here.

 

[ssethii]

i second your thought but nobody likes to take risk with their hard earned money and most to us prefer to deposit them in banks or buy some property.

 

[blood]

its not a pakistani problem , its typical south asian mentality which you can even see in india .
even in india every parent wants their children to be either doctors or engineers ,

but the country not only needs entrepreneurs but also good teachers , lawyers , civil servants , police officers etc etc
how can you produce the newtons or the einsteins if you don't have a good science teacher in the school who can motivate his students to take interest into the subject ,
so the right argument should be you must allow people to pick their profession according to their capability and interest

 

[Secularpakistani]

i second your thought but nobody likes to take risk with their hard earned money and most to us prefer to deposit them in banks or buy some property.

Yes you are right here the best investment majority of pakistanis know about is called putting your money in some high savings account or buying a plot somewhere.Also the latter two are less risky.But entrepreneurship is the driving engine of every economy.If you know your skill you can grow and double,even triple your initial investment.It,s good for you and the overall economic well being of a country,it create employment oppurtunities,generate tax money for the government,create consumer choice etc.In the past decade because of our so called war of terror and the political instability very less foreign and domestic investment has been made and there are too many investment opportunities are available to exploit for profit.Specially in the IT industry.

 

[Secularpakistani]

ts not a pakistani problem , its typical south asian mentality which you can even see in india .
even in india every parent wants their children to be either doctors or engineers ,

I agree .

but the country not only needs entrepreneurs but also good teachers , lawyers , civil servants , police officers etc etc

You are right and i said so in my above post but ask yourself a few questions?From where the salaries of those doctor,s ,civil servants came etc from? In a free market economy our government,s primary income comes from the taxation of businesses in the country and then the government from that tax money allocate the budget and distribute it in different sectors.What if the economy go bankrupt and the business environment go unhealthy ?As a result the government will have difficulties in collecting the tax money which is going to effect our whole infrastructure and the employment in different sectors.So a economy and the business environment effects you directly or indirectly no matter which profession you belong to.
The south asia is poor because we want to be like that and are extremely traditional in our society beliefs.

so the right argument should be you must allow people to pick their profession according to their capability and interest

Yes but on top of everything the economic well being of a country should be our first priority just like it is in the west where not just they promote domestic business environment but operate internationally in the form of multinational companies and extract the wealth of other countries back in their economies.Almost every big brand here in pakistan belongs to some multinational firm.What a pity(

 

[FaujHistorian]

....In a free market economy our government,s primary income comes from the taxation(

What you say is only applicable to USA, UK and EU.

Pak Government can always print more money.

We do not live in the time of gold coins as currency.

These days taxation only matters if the currency being used in the country is "hard currency" like dollar euro pounds etc.

Pak rupees collected by taxation means nothing.

Just a paper.


Any country that cannot print hard currency should have ZERO taxes.

In Pakistani society on a birth of a daughter her parents dream of making her a doctor one day and on a birth of a son his parents want him to be an engineer. ons but I wrote on entrepreneurship because this is one important skill for the development of this country which is not present here.

My family is mostly small business and yes you can call us entrepreneurs.

Yes there are docotors and engineers ttoo.


Remember in an Islamist marxist society, entrepreneurs tend to remain small.

Only free market where copy rights are protected and government is not the monopaly, that you will see small entrepreneurs becoming big corporations.

The day Paksitanis quit being Islamists and marxists, we too will have a lot more entrepreneurs and a lot more mega corporations.

We are same population as Japan, and we have lot more resources compared to Japan.

But there is no Hondas nor toyota corporations native to Pakistan.

Why?

Because of our bad belief system.

 

[ssethii]

Is it going to change with recent developments(PM youth program)?
We have a closed economic system, the market giants have their own monopoly in the market. How ambitious individuals are gonna survive against all these odds.

 

[Secularpakistani]

What you say is only applicable to USA, UK and EU.
Pak Government can always print more money.
We do not live in the time of gold coins as currency.
These days taxation only matters if the currency being used in the country is "hard currency" like dollar euro pounds etc.
Pak rupees collected by taxation means nothing.
Just a paper.
Any country that cannot print hard currency should have ZERO taxes.

ok then tell me what is primary source of income of pakistani government?

"Pak rupees collected by taxation means nothing".oh really? That taxed money can be used to improve almost every sector of economy like health,education etc.Our foreign debt can be paid and we cannot rely on IMF and world bank for running our country like beggars.PKR can be converted into hard currencies like USD etc that,s not a big deal.

My family is mostly small business and yes you can call us entrepreneurs.
Yes there are docotors and engineers ttoo.
Remember in an Islamist marxist society, entrepreneurs tend to remain small.
Only free market where copy rights are protected and government is not the monopaly, that you will see small entrepreneurs becoming big corporations.
The day Paksitanis quit being Islamists and marxists, we too will have a lot more entrepreneurs and a lot more mega corporations.
We are same population as Japan, and we have lot more resources compared to Japan.
But there is no Hondas nor toyota corporations native to Pakistan.
Why?
Because of our bad belief system.

Nice to know about your family and entrepreneurial background.Yes we should be good nationalists rather than defenders of islam.I am not saying we should drop the religion but first we should be pakistanis and then we should be muslims.But i don,t think that,s what stopping us to become entrepreneurs .As i said before the problem is in our thinking of our society and traditional beliefs.

 

[Secularpakistani]

Is it going to change with recent developments(PM youth program)?
We have a closed economic system, the market giants have their own monopoly in the market. How ambitious individuals are gonna survive against all these odds.

That PM youth program is a good initiative but still we have lot more to do.The problem is those market giants are mostly well established multi national corporations and most entrepreneurs think that competing against them is a suicide.But i can tell me this can be done in a few decades if our government keep supporting the entrepreneurs in pakistan with incentives and subsidies just like they are currently offering in the IT industry.
Other than that we must change our mindset about choosing a profession and parents should be be pushy about that.With all those society beliefs and beliefs trust me we are barriers to our own success.Two years ago i asked my father for just 1 lakh because i wanted to start my ecommerce company online but instead of supporting me he said you are just 21 and i am sure you gonna waste the money and he invested that money in a plot .A few months ago he sold that plot with a 5 lakh loss He also criticized me for not being a doctor or engineer like my other brothers and sisters.Finally we should promote the studies of business and economics in the universities and colleges of pakistan . Unfortunately here even highly educated individuals have not a little knowledge about how the economy and businesses works and how that,s gonna effect our economy and the well being of every citizen .Here we can see people doing BBA and MBA but later they don,t bother to use their business skills and prefer to work in some bank or other un relevant field.Here getting a job is the biggest thing people can ever dream about.

 

[Yogi]

IMO the biggest problem in Pakistan is load sheding n poor security situation, solve these 2 problems n u'll see ur own people will be much more willing to invest in business n economy.

 

[Secularpakistani]

IMO the biggest problem in Pakistan is load sheding n poor security situation, solve these 2 problems n u'll see ur own people will be much more willing to invest in business n economy.

Yes they are part of many other problems but i don,t think that effecting the entrepreneurship. With the available electricity and the current security situation a business can be done.

 

[AhsanAmin]

The statement that Pakistanis are not entrepreneurs would be wrong but an alternative suggestion given in the article that talent mostly does not follow the path of entrepreneurship would be probably right. Entrepreneurship does not mean starting a big business, it can be anything like an effort to make money in a traditional profession or might have to do with something uncoventional in our country's business environment. Mostly, people who are entrepreneurs are those who are quite wealthy and already have strong economic standing, or those who are relatively more impoverished or graduates who have been denied jobs in their profession for whatever reasons. Entrepreneurship here is rarely a 'mode of first choice' to make money.

One major problem is that we lack 'knowledge based' or 'innovative ideas based' entrepreneurship. And this should probably come from those people who are more educated with a good understanding of 'economy and culture' of our own country and foreign world and can use their skills and knowledge to make money in interesting ways.

Another major problem is that people who start any new business venture and are from the categories that are either not well off or cannot be absorbed by our relativley small, in both size and number, corporate business environment, and usually have serious problems in establishing their businesses since they mostly do not know what to do and how to overcome red tape and problems of real life business. They should be successfully guided throug these problems. I gave some suggestions on these related problems elsewhere and I am giving the link to that thread.

Suggestions for PM's Youth Loan Scheme

 

[AhsanAmin]

Entrepreneurship has the connotations of being associated with success and entrepreneurship most cited, and analysed is mostly about those endeavors that become very successful, something which is not known ex ante.

Since in the developed countries, most successful new ventures are highly knowledge based and in the areas of emerging technologies, the new connotations of entrepreneurship continue to have associations with businesses started in younger disciplines there. Since knowledge of most of the emerging technologies is rare in our country, this may not be the exact definition in our country.

 

[FaujHistorian]

ok then tell me what is primary source of income of pakistani government?

"Pak rupees ."

Do you know how Pak rupees are made?

 

[IND151]

its not a pakistani problem , its typical south asian mentality which you can even see in india .
even in india every parent wants their children to be either doctors or engineers ,

but the country not only needs entrepreneurs but also good teachers , lawyers , civil servants , police officers etc etc
how can you produce the newtons or the einsteins if you don't have a good science teacher in the school who can motivate his students to take interest into the subject ,
so the right argument should be you must allow people to pick their profession according to their capability and interest

Thankfully we have gujjus and Punjabis.

Plus Marathi people are also coming ahead in business.