1. ‘‘‘
In his second column, TiE UK president Dr Sanjeev Ahuja discusses converting
individual ambitions to economic growth and prosperity for a nation.
The world has witnessed awave of global
economic change, accentuated by the longest reces-
sion in 75 years. Though slow in coming, the overwhelming
response has been both intuitive and obvious.
Governments scrambled to ‘plug the hole’to tighten
regulatory oversight of banks and financial institutions, even
as they increased liquidity in the markets to jumpstart the
economy, revive a decimated job market, and regain control.
Aiming to alleviate a host of unpleasant side effects, among
them a growing disquiet amongst the younger generation
deprived of job opportunities, there has been a determined effort
by the UK government to kin-
dle renewed focus on entrepre-
neurship. This has resulted in
numerous well-funded direct
programmes, as well as public-
private partnerships and
visible efforts by volunteer
organizations, such as TiE UK,
to encourage start-ups and
small enterprises.
Common sense suggests that
entrepreneurship must play a
significant part in the global
response to counter the effects
of this recession and arm the
populace with the ability to bet-
ter control its effects on them in
the future. Is it then solely the state’s
responsibility to look after the economic welfare of its people,
or should the younger generation be encouraged to exercise
some autonomy in taking back control of their own well-being?
For governments, it should not be about crafting
elaborate laws to address an often inherently dichotomous
political agenda, but rather accommodation of a few
practical amendments to the existing laws, offering greater
latitude and incentive for entrepreneurial initiative and
innovative ventures.
This realisation comes from observing countries like the
US where policy has encouraged entrepreneurship to the point
where today it has become part of the people’s DNA; govern-
ment policy nourishes that desire. The desire for entrepreneur-
ship is also apparent across developing nations in Africa, Asia,
and Latin America. It is obvious that those living in the luxury
of robust economic contexts have, over generations, witnessed
an erosion of the entrepreneurial spark and hunger to succeed,
leaving deep rooted complacency and a sense of entitlement
in its place. The US is a stark exception, but that can be easily
explained due to inherent attraction of disproportionate wind-
falls through entrepreneurship
and ubiquitous opportunity to
realise it in that country.
Reflecting on the philosophy
of the 18th century writer Jean-
Jacques Rousseau, TiE UK
proposes that in the context of
today’s economic realities,
entrepreneurship must become
part of our social contract. The
UK should look not for accept-
ance, but appeal to the general
will of the next generation,
which is to take control of their
own well-being.
The older, experienced
generation must not seek
self aggrandisement through helping our younger generation.
Rather we can bask in the resulting self-contentment while
not needing or expecting anything back. This is our call; to be
simultaneously, absolutely, and selflessly committed to their
collective interests.
In the next issue, we will cover attitudes, activity, and growth
aspirations as key factors in encouraging entrepreneurship, and
what should be the essentials of a holistic government policy.
uk.tie.org
TiEUK
Encouraging
generationthenext
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