I know on my first article I argued that we must not perceive Universities as the home where great ideas are found. With that being said today I will be suggesting how these universities can help our country succeed, some of you might find this article bias and say I contradict myself in my ideologies which is not true. This article is however aimed at students in Universities because, firstly they are educated which means they can take calculated risk, secondly they are trained to use technology to analyze the business environment, additionally they also understand how the world works around them. Thirdly their ideas are likely to be executed given the fact that they can do research about them. Besides, there are many ways to kill a cat.
With unemployment rate in the country increasing every year, I think it’s time the government make entrepreneurship a mandatory course in schools and Universities. Some of you might say this sounds like a cliché, as it is a mostly used statement when addressing issues of overcoming unemployment. I would appreciate if you stick with me in this article as I highlight some of the ideas that I think mighty be productive.
Photo taken from the timeslive website (timeslive.co.za)
I propose we institutionalize entrepreneurship from basic education to universities. How though, entrepreneurship must be made a compulsory subject in high schools as this will enable the community at large to have more insight in the field of entrepreneurship. Universities must develop a policy whereby in each and every faculty in every graduation an entrepreneur is born. This means that they must make entrepreneurship mandatory course in each faculty, this applies to professional careers as well, such as Medicine, Law, Education etc. Thereafter these entrepreneurs in their respective faculties must come together with creative ideas and build a profitable enterprise, they must create a company that will give people jobs and contribute to the economy. As our country have 26 Universities it would be a positive movement towards fighting the country’s biggest problem which is unemployment.
Imagine every year our 26 Universities baking 26 Entrepreneurs with creative ideas that could lead to tangible results in society, amazing right? I know. As learners from high school make their way to the life of being a university student, it will be easy for them to come up with innovative ideas because they will now have a solid foundation of what is entrepreneurship, what are the requirements of building a successful business. They will also be able to think critically and identify real opportunities that are unique, for instance trying to come up with a product/service that could be a long term success, something that is hard to copy and cannot be substituted. While they are studying in Universities they will develop more entrepreneurial skills and the capacity of being able to think out of the box. They will be able to do this because they will then have wisdom as they will be preoccupied with entrepreneurship.
Such an execution needs funds therefore the government must come to the party to ensure our prospective entrepreneur’s business goals materialize. With the billions of taxes paid by South Africans per year it is possible for the government to diversify some funds and invest in this process. Since we are skeptical when it comes to risking money to star-ups businesses, the government together with academics can take control of such a resource. They can decide which business has more chances of success and from that they will be able to inject money to ensure that our people get jobs. As these business are at their initial stage it will be a good idea that we get our graduates who don’t have the so called “experience” to work at these enterprises. This will be a cost-effective approach given the fact that we don’t have to have to waste a lot of money paying our graduates as they will be starting their careers, furthermore they will gain valuable job experience considering that they will be exposed to practical job experience where they don’t waste their time doing less challenging tasks.
Producing entrepreneurs every year seems unrealistic, to circumvent that we can give our graduates the freedom to execute their ideas. For instance, not giving them too much pressure to start their enterprise, we can however give them a minimum of five years to start their businesses. We can also give them the freedom of being creative by that I mean avoid giving them briefs on which businesses to start and unnecessary requirements for good businesses. Giving them freedom and power to make their goals a reality we will be making the next Steve Jobs, Mark Zuckerberg and Larry Page as a country. We can at least produce 5 to 10 businesses in every five years that seek to fight unemployment, and also improve the economic status of the country.
The ownership of such companies can be split in a 50% stake, where the government own half of it and the founder make use of the remaining 50%. The decisions that the government make in the business must strive to serve the interest of the people, for example making sure more poor people are employed and nepotism is prevented. The government cannot interfere with the functioning of the business as this will lead to a lot of problems such as underperforming of the enterprise and changing how the business operate. There must be transparency in terms of profit made to ensure that the profit end up at the South African Reserve Bank, we don’t want a situation where public officials take control of such funds as it may lead to corruption. Such business cannot be sold they belong to the state; the founder cannot sell it rather they will have a recommended amount of profit prescribed by the government in case they decide to pursue other business opportunities elsewhere.
In conclusion I believe entrepreneurs can be made if we instil the idea of entrepreneurship to everyone, as it will stimulate the formulation of different ideas that can be use collectively to benefit society at large. If we all have the same vision, I doubt the country will suffer from economic issues. Combining our efforts together will be a productive move towards fighting the unemployment headache, considering fact that greediness will be eliminated so that everyone benefits on the resources of our country.