Why start-ups matter ??

“Its not about ideas. Its about making ideas happen”– SCOTT BELSKY (FOUNDER, BEHANCE)

What is a Startup ???

A startup or start-up is a company or project initiated by an entrepreneur to seek, effectively develop, and validate a scalable business model.While entrepreneurship refers to all new businesses,including self emplyment and businesses that never intend to grow big or become registered ,startups refer to the new businesses that intend to grow large beyond the solo founder.Startups face high uncertainty and have high rates of failure, but a minority of them do go on to be successful and influential.

Unemployment in the U.S. was at 3.6% as of April 2019.It was the lowest rate in the last ten years and shows the nation is recovering from the financial crisis of 2008.

Highest Unemployment Rates

Predictably, the world’s highest unemployment rates exist in Sub-Saharan Africa and in a brutal warzone in occupied Palestine.

Lesotho,encircled by South Africa,had the highest unemployment in the world.Its also one of the poorest countries.Lesotho is a small and mountainous country,previously a protectorate of Britain. Swaziland and Mozambique both suffer from extreme poverty and the world’s highest HIV/AIDS prevalence rate according to CIA.

Why startups are important ???

Entrepreneurship is important to economic development.There is a global drive to accelerate the growth and development of nations through innovation and creativity.Support for small and medium businesses has emerged as a top priority on the global agenda and are no longer seen as a threat to the established system.

New and young companies are the primary source of job creation in thriving companies, and entrepreneurial activity introduces new products and services .These new businesses also contribute to economic dynamism by injecting and intensifying competition into markets which cause consumers to benefit from lower prices and greater product variety and promotes greater upstream and downstream value-chain activities.

The importance of entrepreneurship is evident as seen in recent initiatives focused on startups, especially in developing nations.Some nations have already advanced in the setting up of support systems and agencies to assist emerging entrepreneurs at each step of their journey by providing early-stage financing, technical training, and market intelligence.These systems will help to regulate the playing field for startups and entrepreneurs and may even guarantee a few successes through coaching and mentoring.

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