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louis vuitton outlet POOR POLICIES HINDERS ENTREPRENEURSHIP Entrepreneurship is the relation between an entrepreneur and his act. An entrepreneur takes risk to bring his idea into reality by putting his career and finance on stake. Entrepreneur may have an innovative idea or an existing idea. Entrepreneur is innovative, smart, team builder, good communicator and has good leadership skills. Aims of entrepreneurs may vary from one entrepreneur to another. Some entrepreneur wants to live a life of their own choice and interest so they find entrepreneurship as their best choice to fulfill their interests, some entrepreneurs want to solve an issue of the society with the help of entrepreneurship and some become entrepreneurs in order to earn profits. Entrepreneurship helps in the economic growth. It helps in reducing unemployment and poverty. It contributes in the progress of a country. In foreign countries like United States entrepreneurship is very common due to its awareness among people and a proper economic and sound institutional environment is available for people. Due to which many people without reluctance or hesitance opt to be entrepreneurs this results in low unemployment rate, high economic growth and also entrepreneurs come up with innovative ideas to solve the problems of people. It helps in creating more or new jobs. When jobs increase it results in the increase in purchasing power of people and resolves the issues of physiological need. Unfortunately in Pakistan entrepreneurship has always been discouraged due to poor policies regarding economic environment, accountability ,legal framework ,corruption, financial facilities, small scale businesses, rent seeking, entrepreneurial research, expertise and skills of entrepreneurship, institutional environment and rule of law. Poor policies regarding above mentiond factors are existing in governing system of Pakistan.These are the causes of barrier between entrepreneurship and capable, interested entrepreneurial mindset people. Due to the poor support of Pakistani economic and institutional system people feel hesitant to become an entrepreneur. Economic system is governed in Pakistan in such a way that it is just giving benefit to only few favrouit businessmen and it is focusing just only on personal interests rather then national interest.Condition of entrepreneurship In Pakistan can be estimated by Pakistani institute of development economics (PIDE) study which can help in supporting the fact that poor policies regarding entrepreneurship in Pakistan is the cause of failure of promotion of entrepreneurship. They had a focus group discussion with the businessman of Lahore, Sargodha, Sialkot and Gujranwala to elicit their view regarding state of entrepreneurship in Pakistan. From their discussion many interesting points came to notice that innovation which is very important for entrepreneur seems very blur and the businessmen imitate other entrepreneurs. The other problem is that the families who had business for a long time are flourishing for a long time. Some influential businesses try to make new businesses entrance difficult through unethical means .There is lack of sound legal frame work like absence of strong contractual policies. Their study also shows corruption by government offices as a critical issue for entrepreneurs in Pakistan .People of Pakistan for a long time had not provided the awareness as well as an environment for entrepreneurship. There is a lack of needed skills among entrepreneurs due to lack of entrepreneurial guidance and research or institution. Another problem is commercialization of city which means that due to private owners of land and army housing areas it is very hard for entrepreneurs of Pakistan to start a business or use land for commercial purpose .The reason is that the entrepreneurs are charged high taxes, utility rates for using an area for commercial purpose. Policies in educational field are not formed in order to promote entrepreneurship among students. Majority of students have a mindset to do a job. They are not able to understand that if every student is going to do job after education then there will be no one to create jobs for them in the market that are called entrepreneurs. Every year academic institutions give students not entrepreneurs due to which they are facing unemployment issues in Pakistan no one dares to think for entrepreneurship .They feel hesitant to start a business on the basis of their idea confidently. Reasons are that till now their mindset has been developed in such way that they do not bother to think for entrepreneurship. Education system, govt. policies and influential businessman always manipulate the economic environment which always appear as barrier for a Pakistani student to get entity of entrepreneur. Already existing entrepreneurs also do not support new entrant and create different difficulties .like in recent program of ?€?Aik Din Geo K Sath?€? Maria B said that alarming thing is that media do not try to capture new fashion artists in fashion business of already existing influential fashion artists. Some students have lack of expertise, research and skills so the government should formulate such policies which will protect new entrants and encourage youngsters towards entrepreneurship. Most of the academic institutions are not teaching entrepreneurship as their course but recently this trend has been started or can be observed in some institutions. Few steps taken by different organization like youth entrepreneurship INTEL workshop on entrepreneurship and academic institutions also taking part in awaring students from the importance of entrepreneurship. It is also the need of hour in Pakistan .Due to these initiatives inshallah in future we would have entrepreneurs and the steps for promoting entrepreneurship would increase. Current phase from which Pakistan is passing through is very critical and crucial. In Pakistan there are a lot of problems among which unemployment is at the top of list which can be overcome by promoting entrepreneurship. Entrepreneurship can only be successful if govt. has very strong policies for industrial sector .Policies regarding financial facilities have also proved very discouraging for new entrants as well as small sector businesses. Interest rates set very high which discourages investments and entrepreneurship. In PIDE study only one business man get finance other than bank and through stock so this is the example of unawareness of many businessmen in Pakistan. Small firms have always been ignored although it has a lot of potential to prosper, profit, innovative idea always start from small scale firm .Small scale businessmen are not developing as well as not under notice of government. Although 40% of our economy is based on small scale businesses. It contributes a lot but research is very scarce in this field which can tell us that how much small scale industry is being ignored in Pakistan.Govt. Shouldn?€?t ignore the strength of small scale business. Govt. should understand the need of entrepreneurship and start taking steps vigorously in Pakistan regarding entrepreneurship and it should also work on its policies regarding promotion of entrepreneurship. From the above statements regarding poor policies of entrepreneurship proves that lack of sound legal frame work and sound policies always has de motivated the people to become entrepreneurs and also the existing entrepreneurial policies always protected and benefit the big business man and ignored small businessmen. Govt. is just focusing on benefits of few influensive people and is ignorant about the importance and need of entrepreneurship for Pakistan. Government is not formulating such policies which will promote entrepreneurship in Pakistan.
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