Going through the phase of starting and growing business in Africa, will prove to be a herculean task with little resources and unconducive environment to strive on, with innovative young people seeing entrepreneurship as a way to transform their ideas into providing goods and services to the society, will face a tough labour market in Africa, where the economic assistance is minimal, with a big hope to go ahead with the vision. Agriculture is taking new shape, with more advanced way of going into farm to make a produce that will sustain a community and extend beyond, shoemaking is fast growing amongst young Africans who aspire to become a giant designer footwears company and tailoring provides the satisfaction of feel-good factor when you’re comfortable with your dress.
The big question is how these ideas are going to compete and strive in African market, where local based companies and produces, are substituted with fame attached foreign designers, while the local ones never get the chance to inspire, and quickly dies off. It is about where young African entrepreneurs base their will powers in going forward with their dreams, to have a global company, share the joy of their passion through reaching to wide audience and become successful, that’s where it lies, it does matter how long it takes but it will not be built in a day.
It is about getting the full information about development of entrepreneurship in Africa, and the need to have a system that will facilitate and promote local based companies. It comes with a lot passion to grow a big company, talent and passion is involved, consistency and perseverance is the necessary ingredients to keep forging ahead in building and growing business, the fulcrum of every grounded and structured business is to see it live to the fullest potential and touching the lives of people in any possible way.
Entrepreneurship: Key factors in escaping stagnated economic system in Africa
Passing through the giant’s odds in growing business in Africa is another pivotal step, but structurally the marginalization of Africa from global economy weakens every attempt to come up with a grown business, especially building from the scratch where more than enough capital is required to compete in the local market, not to mention the toughness and demanding nature of global market. For entrepreneurs there are no such strong system which is widespread across Africa in providing the tools for businesses to strive.
Failed leadership and poor governance across Africa has killed the possibility of building flourishing business in Africa, and leaders are not taking responsibilities, that’s why Africa need the thought leaders of tomorrow to take over the affairs, governance, economy and development in Africa. The infrastructure is weak, scarce availability of finance and no health care scheme that takes care of medical records of average citizens, not to mention the poor masses that have been relegated to the depth of trenches. There is a chance for reset, things can be corrected if proper approach is adopted to get rid of all the malfunctioning governance that spread across African continent, and give hope for entrepreneurship in the continent.
