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Im not sure new entrepreneurs quite appreciate the gravity of having family livelihoods dependent on your decisions. The toll is also much worse in developing
by devonsolomon 2y ago
Im not sure new entrepreneurs quite appreciate the gravity of having family livelihoods dependent on your decisions.
The toll is also much worse in developing nations where the demand in the job market is low. Business failure then could mean people being long-term or permanently out of work.
Entrepreneurship is a massive driver of employment in developed markets (especially VC backed). Ironically, entrepreneurs in developing markets may be dissuaded from employing so not to carry this risk.
- em-bee 2y agodo you have any reference to that? because i don't have that impression at all. what risks do you have when employing, other than spending more money? if you stop earning money you can let people go. i did that without problems. in a weak job market, entrepreneurship is often the only option. developing countries have some of the highest numbers of self-employed people. since there is no job security either, the risk of failure is not really relevant, because often the alternative is unemployment. and they are very aware of their families depending on them. that's why they are doing it.