The World Needs More Entrepreneurs

The much-anticipated and latest edition of the Global Entrepreneurship Index 2016 has just been published and, as always, makes for really interesting reading. This year’s edition of the Index offers concrete evidence of what we have felt for a long time, that entrepreneurship is a “global good”. Research supports the premise that entrepreneurship has a direct correlation to increased economic growth, reduced income inequality, enhanced environmental quality, and wider political stability and security - all challenges we are battling here in Africa. The fact is that entrepreneurship becomes a force for real and lasting socio-economic change because it doesn’t simply transfer existing wealth from one group to another, but instead spreads the wealth around by increasing the total amount of economic activity that produces more jobs and more income for more people. As a result, entrepreneurs become a real driver of possibility. The world as a whole, and Africa in particular, have a long and evolving list of challenges to be addressed, from poverty, access to education, youth unemployment, through to climate change to name a few, and all of these challenges require new ways of thinking and innovative solutions to address them. Entrepreneurs are key to creating an environment where such solutions can be found. However, the Global Entrepreneurship Index 2016 shows that entrepreneurial activity in the world currently sits at 52%, meaning that we are only at about half of our entrepreneurial capacity. The bottom line is that the world needs more entrepreneurs.