BY S.M. TAHMID
There are some topics that are always in the buzz. Internet news portals, cycling, selfies, food carts, and currently, entrepreneurship. We all have some idea about what it is, especially after the rise of boutiques and the aforementioned food carts, but to recap, it is the process of starting a (usually small) business owned by an individual. Entrepreneurship is especially common among young graduates and students in many countries.
Since it is “in vogue” right now, we have decided to put together a list of reasons to become one. Most of these have been lifted from books, or theories and case studies of other successful entrepreneurs of our country. Since this is only a concise list, to find out more, we highly suggest you to read “Entrepreneurship Development: An Operational Approach” by Nazrul Islam and Muhammad Z Mamun, simply because this book was written fully from Bangladesh’s perspective.
Without further ado, let us see what we think are the top reasons for becoming an entrepreneur in our capital city.
You want your own business, because it can make a difference
Let us go back to the food carts for a moment. They have introduced many foods and flavours that were not widely available at all, such as Jamaican cuisine and momos. They also made a difference in the quality of food that we were used to having already, which was only possible because they followed their own code.
You want the opportunity to reach your full potential
It is your business. Part of who you are. It is not a job where you follow others’ rules, you make the rules and do what you like.
The line between playing and working is blurred for those who have their own little businesses, which in turn, helps them to reach the heights they dream of.
There is just too much competition in the job market
Everyone has the same goals: study, graduate and get a job. With thousands graduating every year and not starting anything new, there are just too many applicants for every job these days. Even with résumé as thick as a book it is hard to find a decent job. So why not start something of your own? Which brings us to the next point.
You can create jobs for others. Which is a blessing in our job market
So you opened a tiny boutique. Even running such a small-scale business, you will be hiring sales people, suppliers, cleaners, etc. By opening your own project you are creating opportunities for others.
You can be a leader of change and be recognised for your efforts
Let us face the fact that there still a lot of things missing from our metropolitan. Even a decent place to play indoor games and unwind after a day of work is hard to come by. Imagine if you opened such a place; your name will always be remembered as the pioneer. Or at least, your brand will.
Do what you want to, not what you are told to do
This is a really generalised point, already hinted at in point two. Then why mention here again? Simply because it applies to our city and country more because the management of existing organisations here follow the old management style of soldiering, that is, you do what the boss tells you to, without any exchange of ideas. Why follow when you can lead?
You can earn a lot of money, if your ideas and execution are perfect that is
This one is self-explanatory. Your idea, your efforts, your income. No need to share, no need to just sit there while the overlords take credit and profit from your ideas. Remember, even to this day Google’s majority shares are held by the founders, not the public.
There are still lots of gaps left in the markets
This one is also something we know already. Our country has so many services and products still missing, just waiting for someone to fill in the void. We do not even have decent animation studios, to make good animated films for our children. Not to mention, the first one to become successful in these untapped markets will have their names added to history along with lots of income opportunity.
Government incentives are getting better by the year
For the reasons stated before, a country’s economy depends a lot on the entrepreneurs. Our government, even with its flaws have understood that, and provided tax breaks and easy loans for SMEs. Why not take advantage of that?
Your business, your destiny
If you are a business student, you are familiar with the term mission and vision of a company. Even if you are not, you can guess what they are. When you work for an organisation, you are working to fulfill their mission and vision. With your own business, you can create your own mission and fulfill your own vision of the future. This is not just for Dhaka, this is for every potential entrepreneur in the world.
Mahatma Gandhi once said: “Be the change that you wish to see in the world.” Although this was not exactly aimed for entrepreneurs, it fits here almost perfectly. Anyone who is considering being an entrepreneur ought to take these words to heart and start to build your dream from this moment onwards.
Source: Dhaka Tribune
SM Tahmid is an Intern, Content Writing at GradInsights, the career intelligence service of GradConnect. For more information on GradInsights, the research service of GradConnect, drop us a message on our facebook page.