Amitabh Sharma, Features Coordinator

To teach a man to fish will sustain him for a lifetime ... so goes the idiom; entrepreneurship is seen first and foremost as a mindset and also represents one of the key constituents in nation building.

"As we reflect on the past year, the Young Entrepreneurs' Association of Jamaica (YEA) is proud of its accomplishments with respect to its role in igniting the entrepreneurial fire," says Aldain Reid, president of the YEA. "We are committed to moving forward in the New Year with a renewed sense in promoting entrepreneurship."

Reid, who is upbeat about the growth of entrepreneurship in Jamaica, is expecting the new government to support this endeavour.

"We are anticipating that Government will begin to integrate entrepreneurship into its economic development efforts," he says.

Reid says the Government must also demonstrate an appreciation of what entrepreneurship can do for the Jamaican society.

The YEA, a volunteer-driven non-profit organisation which supports young people in business, has proposed the formation of a 'Commission on Entrepreneurship'. "The mandate of this commission will be to exploit the areas of opportunity that entrepreneurship presents within the local context," explains Reid.

The major problem, the YEA president believes, is funding, which needs to be addressed. "Locally, most business start-ups are not funded by traditional sources," he says. "In 2008, greater focus will be placed on developing these non-traditional sources of funding for entrepreneurs."

"We will be making representation to encourage the inclusion of entrepreneurship principles in the high school curriculum," says Reid. This initiative, he adds, will involve getting entrepreneurs into classrooms, getting apprenticeships for students to work with experienced entrepreneurs and more entrepreneurial training in universities.

Issues that need addressing

In 2008, Reid hopes to see a stable and transparent legal environment relatively free of corruption with the ability to enforce laws. "Focus to be placed on major issues affecting business operation and productivity. The issues that need to be addressed are crime and violence, extortion, theft, bribery and corruption," he says.

The road to success is not necessarily smooth as, according to Reid, "to appreciate entrepreneurship, society must value and celebrate successful entrepreneurs and tolerate failure."

This is an area in which the YEA plans to play a critical role.

"One way of encouraging such positive attitudes is by providing role models," says Reid.

The YEA, aimed at business owners 45 and under, recently hosted its inaugural Young Entrepreneurs Awards dinner, which recognised those young entrepreneurs who have excelled in their various entrepreneurial endeavours.

Reid is hopeful that the new year will bring a much needed impetus to the entrepreneurial spirit.

"We will play a pivotal role to harness the true spirit of entrepreneurship," he says. "If we are successful in our endeavours, we will be able to foster the growth of the Jamaican economy."

amitabh.sharma@gleanerjm.com