Question

If you have an authority to participate in preparing financial budget of Pakistan, what would you suggest to the finance minister regarding entrepreneurship development in Pakistan?If you have an authority to participate in preparing financial budget of Pakistan, what would you suggest to the finance minister regarding entrepreneurship development in Pakistan?

Answer 1

In Pakistan, there is no scarcity for talent and innovative ideas . If given proper orientation, guidance and financial assistance, there is huge scope for the development of entrepreneurship. Regulatory mechanisms must also undergo a change.

In order to achieve faster entrepreneurship development, goverment must take an initiative. Following aspects should be given consideration in the preparation of financial budget.

* In the emerging business scenario, a Market oriented approach should be adopted.

* The Industries should encourage to Forster self-regulation and concentrate on development issues rather than being subjected to detailed and administrative control.

* The traditional approaches and conservative ideas of control, regulations will have to give way to free enterprise, flexibility, transperancy and speedy implementation of public policies.

* Infrastructural facilities must be developed so that a favourable environment is formed for entrepreneurship development.

* Adequate and proper facilities, incentives and financial assistance should be provided to the new entrepreneurs for establishing their business and Industries implementing their innovations.

* Hign institutional commitment must be there for local support to the entrepreneurs.

* Training should be imparted for entrepreneurs. Training methodology should be well - planned and programme design must be consistent and clear. There shouldn't be any sort of perpetual ambiguity in the entrepreneurship development programmes and their objectives.

* Establishment of a highly efficient entrepreneurship development advisory body .

* Set up a coordinating body for looking after entrepreneurship development in general.

* Entrepreneurship literature should be prepared, published and adequately properly disseminated. Programs, thoughts and ideas relating to entrepreneurship development should be regularly published through the media.

Finally , more funds should be allocated for reserach and development in the field of entrepreneurship development.