More First Generation Entrepreneurs Required Zimbabwe Entrepreneurial Infrastructure Series

Posted on February 7, 2011

By GMRI Capital

Given the historical economic imbalances these programs are relevant and imperative for Africa to attain a sustainable economic advancement necessary to uplift the standards of living on the continent.

However the concept of grabbing, seizing and invading businesses can not be mixed with noble broad based economic empowerment program. Africa needs to devise policies which can create entrepreneurial infrastructure which will encourage entrepreneurship and not business invasions, seizures or grabbing. This challenge requires more first generation entrepreneurs.

First generation entrepreneurs (FGE) are the ones who break the ground within their social grouping (could first from family, class, neighbourhood etc) and enter into business. They do not inherit the business from family (father ,mother or rich uncle etc).These are the individuals who have a dream and pursue it and do whatever it takes to set up their business from scratch. These are the people who are required for the economic empowerment to succeed. It cannot succeed by just taking established businesses and dishing it to those who are “deemed to qualify” under whatever criteria.

Setting up a business from scratch is not that easy, some people may even want you to fail for no apparent reason. And yet others when u succeeds may want to grab, seize or invade your business. Part of the entrepreneurial infrastructure means the provision of a secure legal environment where contractual obligations can be enforced and property rights respected. This will encourage other entrepreneurs.

First generation entrepreneurs provide next generation of growth companies which are different from established businesses. Most first generation entrepreneurs amplify the economic and social impact of important new ideas and discoveries which are converted from dreams into reality and new wealth.

African is in need of first generation entrepreneurs who are forced to come up with their own roadmaps to success as they create a path which no-one close to them has travelled. In the process they create a road map for the future generation to follow. This process becomes part of the entrepreneurial infrastructure which makes it easy for others within that community or family to enter into business.

Zimbabwe in particular and Africa in general is in desperate need for First generation entrepreneurs are ready starting from scratch and go on to translate their dreams into reality. This trait of starting things from scratch can be learnt and be taught and can rub off to become cultural and become a standard. This is what comes naturally from having well developed entrepreneurial infrastructure. From an early age young individuals are groomed to become entrepreneurs and learn from others around them who are part of the entrepreneurial infrastructure. This does not happen by accident but rather through careful and deliberate policy formulation and implementation which aims at creating a generation of globally competitive entrepreneurs who appreciate to start a business from scratch and see it become a world class brand.

Successful entrepreneurs need courage and have to have the mentality to do something that’s never been done before and have fun whilst doing it. The mere fact of invading or seizing someone’s business indicates lack of entrepreneurial infrastructure and entrepreneurial spirit. Whilst a business can be legally take over let it be the exception rather than the national motto which specialize in taking over businesses. The national motto should be to create businesses from scratch with the state creating the conducive environment as part of the entrepreneurial infrastructure

A properly developed entrepreneurial infrastructure provides business advice and mentorship, market intelligence, entrepreneurship education, seed capital and access to critical talent, customer and partnership networks and joint venture opportunities which help aspiring entrepreneurs realise their dreams.

Several studies indicate that people who grew up within and around families who owned a business have a higher chance to own a business themselves. This is true in Zimbabwe and Africa generally. A majority of entrepreneurs grew up with and around business minded people and naturally certain skills and capital come natural to them. This is part of the entrepreneurial infrastructure which is required but it all starts with the first generation entrepreneur who creates a path that becomes a roadmap for future generations.

Disclaimer
All information on this site is provided “as is” for informational purposes only, not intended for trading purposes or advice. Prior to execution of any security trade, you are advised to consult your authorized financial advisor to verify the accuracy of all information. Neither GMRI Capital nor any independent provider is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein.

*Posted on http://www.zimdaily.com

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