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ricardo7
 
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Why we do not grow as a country

09 November 2012, 19:23

I read about abortion not so long ago. The reason was not because I was in a situation that required that I be informed about it. I was just reading to look at the arguments presented by those who are for and those who are against it. One of the arguments presented by the anti-abortion side was “when you abort you are denying a human being an opportunity to live. This is wrong because you do not know what this person would grow up to become. Maybe this person would be much valuable to the world. You do not know the potential that foetus has.”

This article is not about abortion and I am not saying the above argument is the best to be presented. I am only quoting it because this argument made me think of something very important.  Why is it that most of our aspiring entrepreneurs never become successful businessmen? There are a million reasons that this happens and in many cases it is because of their own failures. There is a reason however that has been troubling me for a long time. The major reason is the unavailability of capital. If you have ever looked at the business funding models you will be familiar with the words “own capital contribution”, “collateral” or “unencumbered cash”. These three phrases is one of those that have become my least favourite words. Almost every entity that funds business people says they will only fund the people who already have money. This is no different from the caste system that benefits only the haves and leaves the have not’s even poorer. They have given many excuses as to why such policies exist but I am still not satisfied.

One of the excuses I heard was, “we need to be certain that you are committed to this business.” I doubt that anyone would go and apply for funding to fund a business that they are not going to be committed to. The mere fact that a person is there to incur debt for themselves should show that this person is committed. This person is committed but will not be funded because perhaps they come from a family of the have not’s. This is just as bad to me as abortion is to the above mentioned anti- abortion team. Entities that should be empowering aspiring entrepreneurs are the very same ones that kill their ideas. People are told to go work first before they pursue careers in business. Who knows if this idea that one has will help the economy of the country. That is why a great number of the people have flooded the supply chain field. We all become tender-preneurs because that is the only field we are able to enter now. Some of the people do not want these kinds of businesses that only benefit the communities with employment only for a short period of time. We are unable to start and nurture proper traditional businesses that will increase employment and employment periods.

What pains me the most is that most of the people who fail to have “unencumbered cash” have “collateral” or inject their “own capital contribution” are previously disadvantaged people. Where do we expect them to get this money? Most of these people never get to see their dreams come true, and their ideas never get to be implemented. We do not know what these businesses would become had they seen the light of day. Maybe we would be further than we are as a country economy wise. Maybe the level of poverty would be lower. Maybe the level of employment would be higher. Maybe the quality of life would be fairer. This is not going to happen though because we only help those who already have, and those who have not, will remain without forever.  In conclusion, “

When you refuse to fund an idea you are denying a human being an opportunity to have a business simply because they have not. This is wrong because you do not know what this person and the business would develop to become. Maybe this person and this business would be much valuable to the world. You do not know the potential that idea has.”

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