Last week, we looked at the important role that youth entrepreneurship plays in the overall economic development of Jamaica. Unfortunately, despite aspirations to create their own income sources, many young people struggle to find ways to achieve their business dreams.
It’s a common belief by new entrepreneurs that the route to business success lies in easier access to start-up financing for their fledgling operations. The reality is that an injection of money can sometimes be insufficient to help an enterprise prosper if the owner is inexperienced in business.
From observing the mistakes of many young entrepreneurs (myself included), I know that working capital will often be misused and wasted in the hands of someone who is just starting out in business. The saying “Experience is the best teacher,” could very well have been written by an entrepreneur who gained worldly wisdom after several costly business errors! Continue reading Help for Young Jamaican Entrepreneurs