UL0018 – The Role of the Environment in Nurturing Entrepreneurship

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UL0018 – The Role of the Environment in Nurturing Entrepreneurship

My belief is that entrepreneurship can be developed, taught, and nurtured. Often, the latent entrepreneurial talent never gets discovered unless the environment is conducive to unleashing that potential or unless the person sees the light with more knowledge and greater exposure, including the development of a different mindset right from his or her school days. Our problem in Singapore was that the environment had been so harsh that only the hardy entrepreneurs got discovered, leaving many more to remain undiscovered and many to discover their talent in other forms. In contrast, people in more entrepreneurial economies discover their entrepreneurial spirit much more readily because the environment draws it out of them much more easily than in countries where the environment is not so well developed. Mr Inderjit Singh – The Art and Science of Entrepreneurship

A standard question that entrepreneurs are asked is, when did they start becoming an entrepreneur? There will be some who will reply that they used to experiment when they were at an early age, some who took entrepreneurial steps when they were working and some who started only after retirement. These answers show that such a mindset can be changed and developed at any stage and that people are not born with such talent, but it is nurtured and discovered depending on the environment around.

Unless there is a belief that entrepreneurship can be developed and nurtured, there is no possibility of any country or society succeeding in creating an entrepreneurial economy, particularly for societies that have been used to the scholar system or to a system that was driven primarily by a corporate-based economy consisting of large multinationals corporations or large government-linked companies.

This has been proven after the dot com era and it has developed now in the second wave, where many incubators and accelerators have popped up in the market. Entrepreneurship education has also popped up in schools, where kids are being encouraged to think more creatively and entrepreneurially. The funny thing is that this change came from the people and not from governments or bureaucratic bodies. The communities started from people getting together and helping each other out. They realized that entrepreneurship could be nurtured in others and that with more people thinking entrepreneurially or differently, that they could bring about many great changes to the world.

It was after the movement gained traction that governments started to take notice and they started giving their support to such thinking. They understood the impact that entrepreneurial learning brought to society and they also have contributed to this movement.

In countries like Singapore, the government has put in a lot of support through various agencies to encourage entrepreneurial thinking and growth. They understand that innovation and such drive will help keep the company in line with the current times and will help take the economy to the next level.

Entrepreneurial thinking can bring about a lot of change in the world, there have been many innovations that have made improvements in many lives and have given many people freedom. This shows that all you require is a change in mindset. A change in mindset, which is needed at the government level as well as at the societal level, is the conviction that entrepreneurship can be nurtured and developed, and that the government and society can at least play a part in aiding the process.

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