In our country thousands of business graduates but few of business entrepreneur. Now a days, mostly the youth are focussing on job goals rather than being an entrepreneur. Fresh graduate consider sallary as main source of income. Insted of the view to make profit by own business. In our country there is a dellima in chosing the right carer. Mostly youth are choosing high revenue oriented proffesion, like being a doctor and an engineer rather than entreprenuer.
In other countries, there is a diffrent perspective of their citizen in terms of choosing a profession. They just pursue their profession with passion. That's the reason why they are performing best in economic growth. As no country can acheive its economic growth without achieving healthy business economy. As this can achieved by increasing the number of human capital in our country.
Entrepreneurship is the driving engine of the economy. Usa and other western developed countries are the best examples, they have plenty of good entrepreneurs who contributed in their economy.
According to the report, the new business ownership rate, which is the percentage of owner-managers of a business that is three to 42 months old, is 2.7% in Pakistan. It is ‘considerably less’ than the average rate for factor-driven economies (11.8%).
The established business ownership rate in Pakistan is 4.7%, according to the study, which is less than the average rate for factor-driven economies (12.6%).
In 2019, Top ten countries in nominal terms would be : United States, China, Japan, Germany, India, France, United Kingdom, Italy, Brazil and Canada. In ppp terms, Top ten countries would be : China, United States, India, Japan, Germany, Russia, Indonesia, Brazil, United Kingdom and France.
Why Pakistan is not in the top 10 list of nominal gdp?
TOP 10 SUCCESSFUL ENTREPRENEURS IN THE WORLD
10.JEFF BEZOS
9.SERGEY BRIN
8.LARRY ELISON
7.AMANCIO ORTEGA
6.MICHAEL DELL
5.RICHARD BRANSON
4.MARK ZUCKERBERG
3.CARLOS SLIM
2.WARREN BUFFETT
1.BILL GATES
Why there is no single person of Pakistani in the top 10 list of entrepreneurs?
Here are some reasons why there are far fewer entrepreneurs than there should be.
*Entrepreneurship isn’t part of education
*No opportunities for experience
*Lack of Motivation
*Governmental policies
*Lack of Inspiration
Most entrepreneurs may walk on a path filled with difficulties along the way which might hinder entrepreneurs in making to the stage of an established business. Thus, this research paper aimed to identify the factors that cause entrepreneurs to fail in becoming an established business. When running a business, entrepreneurs may find themselves in a state of losing motivation by the obstacles they are facing along the way, which might cause a negative impact on the performance of a firm and lead to closure as entrepreneurs do not have the motivation to focus on the goals to sustain the business. Moreover, negative cash flow could be a factor that affects the survivability of the business as entrepreneurs may fail to manage their businesses’ cash flows which may cause the company to be unstable and require additional funding to survive. Furthermore, organizational skills may be required by every entrepreneur to succeed in the business in which most entrepreneurs lack these skills and cause them to face failure in the end.
The problem is therefore not a lack of education, but a lack of entrepreneurs. There are too few people who are qualified to develop the ideas – too few who know how to drive change and development.
REFRENCES
tribune
statisticstimes
kdbrothers