Sharpening your entrepreneurial skills
Human history has shown that crises have been pivotal in developing our societies. We’ve had wars that fuelled technological innovations, pandemics that advanced healthcare systems and global financial crises brought forward hi-tech companies like Uber. History has also shown that businesses play a key role both in helping society get through an economic crisis and in creating innovations that shape society after a crisis.
In terse economic conditions, fundamental entrepreneurial factors drive the generation of new business, and data from recent Global Entrepreneurship Monitor (GEM) surveys, show that basic entrepreneurial characteristics (i.e. opportunity recognition and innovation) and drivers of entrepreneurship (like necessity vs. opportunity) actually increases the likelihood of success for new business leads. Research continues to reveal that necessity-driven entrepreneurship is ineffective during recessions and that innovation and opportunity recognition are more relevant as success factors during periods of business decline.
Those that have just started operating their own business, and also for those that would like to experience what it takes to run their own company one day, should seriously consider benefitting from funded programmes that rekindle their entrepreneurial traits! The “Erasmus for
Young Entrepreneurs” programme [ www.erasmus-entrepreneurs.eu] is one such opportunity. It is a mobility initiative, financing experiences in EU and non-EU countries like Singapore,Taiwan, South Korea, Canada and US.
Eligible entrepreneurs are those in the early stages of their business start-up (new entrepreneurs) and experienced owners or managers of a micro or small enterprise
(host entrepreneurs). The term “new entrepreneur” includes both nascent entrepreneurs, who plan to start their own company in the future, and those who have already set up their own business in the last three years. Exchanges aim to help the new entrepreneurs gain first-hand knowledge about start-up topics like marketing/sales, customer relations and business finance, and are supported by monthly financial grants for the duration of the exchange which can vary from 1 month to 6 months.
On the other hand, host entrepreneurs are experienced business persons, with more than three years of activity. By participating in the programme, host entrepreneurs suffer no financial burden but they should be willing to cooperate with the new entrepreneur towards developing his/her entrepreneurial skills and know-how. And, to date, more than 7,000 seasoned entrepreneurs registered in the programme’s database are waiting to host new entrepreneurs.
Malta Enterprise has led this programme for the past five years and continues to encourage the Maltese business community to participate and benefit. Reach out to brigitte.tanti@maltaenterprise.com or call on 22477600 for additional details.