A new breed of youth has emerged in Kenya. Linking their academic pursuit to create profit for themselves and the society, they do not wait to be employed but create jobs. As the Principal Western University College of Science and Technology observes, “University students have turned from throwing stones of destruction to gathering stones for development.”
Read more about students in business in The African Executive.
Also, check out PSD Blog on whether things like education matter in fostering entrepreneurship or if its all about the genes (there are also links to polls, where genes are currently tied with drive).
My take – research and perceptions may show that genes matter, but:
- Entrepreneurship – as a foundation of a free market economy – can’t thrive without a proper institutional environment. And by entrepreneurship I mean more than setting up a stand at a local market, which can get quite difficult in its own right if corruption is rampant and vendors become an easy prey to police, inspectors, and government officials. So things like contract enforcement, access to credit, access to public services, and such do matter. Simply put, if I can’t be sure that I can protect my business or recover expenses, I am going to think twice about running a business. Or, if it takes me months to register a company, I may just forgo the opportunity, or join the informal sector with few possibilities for growth and expansion.
- Education matters – more for some, less for others. But its role extends beyond giving certain skills to people – it helps present entrepreneurship as an alternative to state employment or joining the ranks of unemployed. Sad but true, there are places where people do not even consider opening their own business because of barriers and perceptions. I am all for breaking down those barriers, dispelling myths, and changing perceptions.
Published Date: June 21, 2006