Govt calls for entrepreneurship

HARARE - President Robert Mugabe’s cash-strapped government has urged workers to quit their jobs and venture into entrepreneurship.

Finance minister Patrick Chinamasa said the latest move was aimed at maximising returns on the country’s human capital by reversing the prevailing mentality of trained personnel being content to remain as employees.

“Central to this is broadening the culture of entrepreneurship among our people, inclusive of readiness to embark on business risky ventures,” he said.

This comes as analysts believe that entrepreneurship was the only way for Zimbabwe to reduce its high unemployment rate —  hovering over 90 percent — and help grow the country’s moribund economy. 

For instance, the United States government’s interest in entrepreneurship and small business development as potential solutions to flagging economic growth and rising unemployment has increased.

This has resulted in increased job creation and improved living conditions not only in America but also in developing countries.

As such, economic analysts said the government must develop policies to support and encourage start-ups and early stage ecosystem in the country.

Financial expert Francis Chinjekure said notwithstanding the attention that has been given, little has been done in trying to empower aspiring entrepreneurs and those in practice other than scuttlebutt street talk that has hyped on the topic.

“With the said magnitude of awareness there is now need to take a huge leap forward through providing support to aspiring entrepreneurs,” he said.

Entrepreneurship is the ingenious act of spotting an economic gap and marshalling the available resources in an efficient manner to move into that gap.

It leads to investment and job creation.

Chinjekure noted that Zimbabwe needs entrepreneurial education from a tender age supported by entrepreneurial promotion at a ripe age.

“Pupils have to be taught entrepreneurship in schools and they then find the support they need to start-up as they are maturing,” he added.

This comes as aspiring entrepreneurs are currently faced with an array of challenges that include negative interference in markets, such as over-regulation and bureaucracy by government arms, especially in the process of registering a new start-up.

Chinjekure said this kind of interference was also being exerted by larger enterprises in the form of monopolies, collusion and unfair trade practises.

“In such cases, the government has to intervene to maintain fair competition for the protection of start-ups and promotion of entrepreneurship.

Due to the said challenges, too many entrepreneurs are currently working in the informal sector of the economy. Few businesses are registered. Many of their businesses suffer from fluctuating production and have difficulties accessing capital and wider markets, poor infrastructure and other amenities and a lack of structured land tenure system,” he added.

Post a comment

Readers are kindly requested to refrain from using abusive, vulgar, racist, tribalistic, sexist, discriminatory and hurtful language when posting their comments on the Daily News website.
Those who transgress this civilised etiquette will be barred from contributing to our online discussions.
- Editor

Your email address will not be shared.