Entrepreneurship best way to fight unemployment

US expert provides tips about launching successful start-ups

Our Correspondent March 29, 2017

ISLAMABAD: The best way to engage unemployed youth in productive activities is to encourage them towards entrepreneurship as 75 million young people are without jobs around the world.

These remarks were made by US entrepreneur Rhett Power while delivering a presentation at the Islamabad Chamber of Commerce and Industry (ICCI) on the theme of  “Do’s and don’ts of starting a business”.

‘Pakistani parents more in favour of start-ups than other countries’

The event was held at the launch of the 2017 Entrepreneurship Speaker Series by the US embassy.

Providing tips about launching successful business start-ups, Power identified good business plan, strong support network, good customer service, strong financial discipline and sticking to budget as key tools for the growth of start-ups.

“Start-ups with a proper business plan are 30% more likely to succeed,” he said.

During the interactive session, Power said whether in the US or Pakistan, entrepreneurs faced similar challenges in figuring out how to take an idea and turn it into a successful business.

He found Pakistani entrepreneurs talented, bright and energetic. He was of the view that the country had a bright future for entrepreneurship.

How this Pakistani built a billion-dollar startup

Power is the co-founder of Wild Creations, a start-up toy company that was named the 2010 fastest growing business in South Carolina.

US Embassy Economic Officer Mary Harrington said the Entrepreneurship Speaker Series would sponsor additional programmes to support Pakistani entrepreneurs focused on various topics.

Published in The Express Tribune, March 29th, 2017.

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