Living in these tumultuous times, we have things going wrong every minute. New problems are brought to light and some old ones just keep evolving defeating the purpose of our well-thought-out solutions. Some communities are ridden with poverty, and disease, some just are struggling with power shortages. Unemployment becoming the order of the day, climate change triggering natural disasters, from the miniature problems to the ones we find life-threatening when action is not done things can only get worse. These different growing issues threatening the well-being of our communities require solutions that can be improved upon as well, effective enough to neutralize.
Entrepreneurship is usually defined as the act of creating a business, building, and scaling it to generate a profit. It entails the willingness and capacity of organizing, managing, and assuming the risks of a business. With it comes a capacity for innovation, investment, and extraction of value. With plenty more pros than its cons, it is the best thing to have happened to humanity after science in this era. With uncountable enterprises being erected by entrepreneurs in different sectors, solutions are being found and implemented regularly to the different social and economic problems infesting our communities.
Every entrepreneur possesses a problem-solving mindset, always looking for a new and more sustainable way to do things even in the process of generating income. They carry the burden of risk with the belief that big problems also require a big leap of action for the solution to be found. Contrary to what many might want to believe entrepreneurship is less of working with a blank canvas just being creative and more of being an observer, assessing your surroundings, identifying issues that need solving, and aiming to be a solution provider. There is a sense of responsibility one has to carry, that feeling of ownership where you believe it is you who can create the change and not only wait for the next person to do it for you.
In many ways, entrepreneurship has been solving our community problems and it continues to do so. Identifying community issues as opportunities to create and be innovative. This culture of innovation has led to plenty of creative ideas being put into play to provide better services for our communities. We can talk of the magic of Uber and how convenient it is for the user, this as well just started as another transport problem that a bright mind identified and took the responsibility of solving. One of the ways that entrepreneurship can be used to solve community problems is by the continued rise of better service providers, innovators, people who are stifling out inconveniences, and creating better sustainable ways of doing things. We can speak of how different social media platforms are helping to create a more globalized society, easier communication and it is all thanks to entrepreneurship.
Unemployment has become a major issue in all communities globally, not only in the developing societies but even in the well- balanced ones. With lack of employment, many problems come as a result, with a lot of the youths just being idle after finishing school with no way to tend for themselves we see the rise in crime rate and drug abuse in some communities. Entrepreneurship comes with a lot of private enterprises being opened which will in turn offer employment opportunities in such areas in turn decreasing the number of people on the streets. Approximately 75% percent of the population of most communities are people who have benefited from entrepreneurship when it comes to getting jobs, be it be working for an enterprise which is a product of entrepreneurship or by them freelancing and being self-employed.
The third way in which entrepreneurship can help in solving community issues is by its ability to create an ecosystem that when the concept is fostered it provides a strong breeding ground for innovation. The self-directed nature to find a way to survive makes people financially sustainable, in the process, it decreases the effects of extreme poverty on most communities as more people will be able to afford basic living expenses.
Entrepreneurship is not only providing jobs but also specialty and custom, sustainable goods, and services to consumers with consumer satisfaction being their priority. This gives a chance for services to be provided at more affordable prices as the small enterprises usually treasure the comfort of the consumer. Better service and goods are provided as the solution is crafted from first identifying the problem and blending different concepts to create a new strategy. There is an opportunity for new markets being developed which is beneficial to the community.
Entrepreneurship is powering most of the economies as it is critical for the growth of every economy. Products and services offered by entrepreneurs can stimulate related businesses to support their venture, furthering economic development. In such an era as this, the ability to be adaptive and dynamic is a survival skill everyone should have. Entrepreneurship is providing a change of perspective and approach to how the world works, innovation becoming the order of the day as our thoughts and actions become elevated. Merging business with sustainability and solutions to community problems, that is the future.
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