The government should prefer doing business with small and medium-sized start-ups while paying them on time to promote entrepreneurship in the country, says Kenneth P Morse, co-founder of Organisation of Pakistani Entrepreneurs of North America (OPEN).
He was speaking at a seminar on “Building Entrepreneurial Ecosystem of Pakistan” at Iqra University on Wednesday.
Addressing the audience at the first seminar organised by the newly established Karachi chapter of OPEN, the self-declared serial entrepreneur and founding managing director of MIT Entrepreneurship Centre said entrepreneurs should effectively communicate their concerns, particularly about late payments, to the government.
Morse said 10 success stories would kick-start the development of the entrepreneurial ecosystem in Pakistan. He said a recession was the best time to start a business, adding many successful companies were launched during an economic downturn.
Rejecting the idea that access to finance was the most difficult part of entrepreneurship, he said only a sound business idea could attract investment. “You’ll get money from customers.”
Speaking on the occasion, OPEN-Silicon Valley Chairman Idris Kothari said directors and executive committee members of OPEN were successful entrepreneurs, who had come together on one platform to advise budding entrepreneurs and help their businesses. “I paid Rs125 a month while studying at NED. Now it’s my time to pay back. A true entrepreneur is one who gives back to his community and helps others succeed.”
Published in The Express Tribune, February 2nd, 2012.