Welcome back DNA’s friends, this week’s blog is going to be about entrepreneurship and the importance of it.
Entrepreneurship is the process of designing, launching and running a new business and the willingness to risk loss in order to make money; it is not a guaranteed process, its 1% 99% chance! However, it worth it if you want to be an entrepreneur and have your own business.
Nevertheless, there are so many challenges faced by new entrepreneurs like lack of patience in solving problems, lack of sustained motivation, Inability to dream and use subconscious, etc. In addition to this, the other challenges include; developing vision and ideas, raising capital, assembling a team, finding the right location, finding the right employees, finding good customers, overcoming competition, unforeseen challenges and expenses, keeping up with industrial changes and trends and exiting the business. Therefore, it is necessary to overcome these challenges in order to conduct an efficient business.
- Did you know?
SME & Entrepreneurship, is the backbone of any thriving democracy, just to change government is not enough, for true democracy, the standard of living should increase and citizens should be free to make choices, any thriving developed economy has a 60% employed through SME ( Small to Medium Enterprises ) “.
- Have you ever thought why entrepreneurship is so important for a country’s overall development?
This question often crosses my mind, thus, in my opinion, entrepreneurship turns the economic growth to something remarkable and not only economic development, but also it provides jobs to the unemployed, increase the standard of living, inspires other people to become an entrepreneur and solve other’s problem. Being an entrepreneur has many benefits, such as freedom to pursue your own vision, control and flexibility over your own time, opportunity to learn and gain knowledge and sense of pride and fulfillment in accomplishing things.
Of course, we all know how DNA supports strong ideas, that’s why it is part of Erasmus+ project that it’s going to be held in the UK by sending six Representatives from Armenia to represent DNA among six other countries who are also participating in the same program (Bulgaria, Croatia, Italy, Lithuania, Turkey, and the UK) from the 15th till the 24th of May 2020 under the topic of entrepreneurship.
- What is the aim of DNA?
The aims of DNA’s Project are significant to the need for youth innovation because to step out of unemployment; it is important to develop the entrepreneurship values among youth. Youth should be trained about the importance of independence, critical thinking, innovative-based actions, to achieve to make them think about possible solutions on how to increase the welfare of their communities. The participants will gain knowledge of leadership, management, conflict resolution techniques, basic concepts of entrepreneurship and business plan analyze. They will get involved in activities that require active participation and provide them with opportunities to expand their network and broaden their perspective. Young people and those who are disadvantaged and do not have access to start-up capital and traditional banking cannot rise to the challenge.
Hope this blog helped you realize that the importance of entrepreneurship cannot be ignored. The development of entrepreneurship culture in countries’ environment is essential for further growth. From economic growth to inspire others, bringing innovation, creating job opportunities, improve the standard of living…. all of these are impacted by entrepreneurship activities.