The Importance of Entrepreneurship Essay

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    being an entrepreneur

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                 Being an Entrepreneur is one of the most exciting and popular things to do. Though starting and maintaining your own business isn't easy. Through real life experience I have learned how to manage and maintain a business. In the following I intend on telling you how to do it yourself to display what I have learned.
    Your heart pounds. You smile. Excitement abounds. You are inspired. Life has a new meaning. What is the object of all this positive energy? An idea! The experience of getting a new idea is wonderful. What follows can also be fun and exciting, when you have a plan and know what it takes to carry your idea from conception to reality.
    Dreaming a dream is one thing, but bringing the dream to market is another dimension entirely. Business is all about making money, which means the bottom line, is the bottom line. However, once your dream is realized there are several steps you must take before going to the market. (Entrepreneur's Guide PG 20)
    Educating yourself needs to be both open-ended and focused, to provide the freedom necessary to explore unexpected leads. Success at this stage often depends on how open-minded you are. If you enter the education process with even some preconceptions, you are likely to miss important learning (Entrepreneur's Guide PG 36). Adopt a spirit of adventure about learning new things. If you fear learning new information because it might undermine your idea, then you will miss major insights.
    There is good news in everything you learn, if only your vision is broad and clear enough to see it. How a joint venture with the company holding the patent could be an even bigger idea? How you can use the learning and experience from working on this project to benefit your company in other ways. This attitude is crucial to your success at this early stage. (Entrepreneur's Guide PG 39)
    Focus also helps the education process, but there is a vast amount of i…

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    The Power of Entrepreneurship: 2013 Essay Contest Winners announced

    By IGIHE Reporter

    On 4 December 2013 at 10:23

    Comments : 1


    The following essays are the top three finalists essays selected from submission received from over 25 schools across Rwanda as part of “The Power of Entrepreneurship” Essay Competition. These essays contests were hosted by the Babson-Rwanda Entrepreneurship Center (BREC) and the event was held during Global Entrepreneurship Week/Rwanda 2013.

    1. Author Name : ABIMANA Brigitte

    Essay Title: Power of Entrepreneurship

    The following essay was written by ABIMANA Brigitte from Institute St. (…)

    The following essays are the top three finalists essays selected from submission received from over 25 schools across Rwanda as part of “The Power of Entrepreneurship” Essay Competition. These essays contests were hosted by the Babson-Rwanda Entrepreneurship Center (BREC) and the event was held during Global Entrepreneurship Week/Rwanda 2013.

    1. Author Name : ABIMANA Brigitte

    Essay Title: Power of Entrepreneurship

    The following essay was written by ABIMANA Brigitte from Institute St. Famille Nyamasheke.

    The power of entrepreneurship is shown in its role and contributions to the society, economy of a country and other business activities as it is following.

    Entrepreneurship is defined as a process of creating new business or things assuming that risks and rewards are possible.

    Entrepreneurship is the way of foreseeing business opportunities from society organizing the necessary resources using to initiate an economic activity and organize goods production and services and marketing them, covering with the aim of making profits. How can we use it to develop ourselves?

    It enables to acquire income; to know how to reduce expenses, how to save for future consumption, it bears in us competitive spirit responsibility; to evaluate our performance and improving standards of living, controlling our behaviors towards others; developing ourselves physically and in mind.

    Entrepreneurship as a key of creating job opportunities it enhances the following chances such as motivation and personal touch, decision making reduction in dependency ratio as we create our own job enabling us to satisfy our needs, solvency, self reliance, employing other people hence poverty reduction recognition in society, high income to the country due to innovation and creativity in society, more tax revenue to government due to high productivity of businesses created, creation of markets due to qualitative and quantitative approaches used in production process increase in community activities.

    In our daily life we need to work in order to develop our life economically one of the studies helping us to innovate entrepreneurship is taking the first place. Entrepreneurship enables us to run a business by using available resources in the economy (including human and non human resources);

    It helps us to acquire the skills in start and manage our own legal economic activities hence helping us to create self employment.

    Most people don’t get well the use of entrepreneurship as it seems to be new but we as learners we have started to understand it and we took it as a key or basic way of good and everlasting standards of living because it helps for bearing business ideas, analyzing them and finding opportunity and then after put into action that will come up with tangible way’s for quick development of ourselves, society we are in, country hence reduction of dependency ratio because with a properly planned and legal economic activity we get ability to satisfy our needs.

    As I have said that entrepreneurship bears in us competitive spirit and other important skill and attitudes, on my side often participating in first training last year of entrepreneurship which encourages people to put their ideas into the action and I take it as very helpful activity; I came up with an idea of making breads and during the holidays I had put it into action and by now it is still going on.

    I asked capital to my family to buy yeast, oil, bread flow, incinerator, tables, metal plates, numbered boxes, sugar, salts and eggs and other requirements. I should have taken another economic activity but I found this more interesting and very needed in my society. We use to by the breads of law quality and sometimes expired whereas I live near by schools, health centers, restaurants, some alimentations, small markets; training centers and these are my project’s opportunity.

    By now my business is being successful the money from it, I use them to pay school fees for me and my siblings, buying clothes and materials and also for the satisfaction of my remaining needs and I took some of the money I got to build a working house and the rest of them I have saved for future use.

    Entrepreneurship has been the answer for me because my dreams have started to be realized as most of time I wanted to do an important activity for my family but nowadays I am very proud to employ some people who were job less and I have become famous in some neighboring regions.

    All those I owe them to entrepreneurship that I have studied and I attribute all my standards of living to its power that had been strengthened by training I have attended.

    On my side, I see that in my developing country Rwanda which in facing a great challenge of unemployment in general to many of its learners, students who even finish their studies at high levels whereas all of them are there waiting for job according to faculty or option they followed, it is advisable to engage themselves with entrepreneurial mindset to start and create their own job to empower themselves and satisfy their needs and those of relatives who depend on them.

    Once they will be using their force this will be sign proving that really they studied and they end up by applying their education in social life we all need money for our welfare changing potentially economy of our country.

    But the only problem that is still being faced by the youth is to neglect some kinds of jobs saying that they are not filling the one who finish for example university studies. What I can ensure them is that the small job help to reach or attend to the big one in other words the less paid job led to high paid job. So youth we don’t have to disconsider any job by our arrogant judgment.

    Some people may get viable business ideas and they fear to express them due to outside influence or non self confidence. This is mostly seen in young people who are with old people in a given region and most of time the girls are attempted to have such attitude saying that what the mature persons or the men are going to think or they are going to take me somehow that I am not and as result they remain with those ideas whereas those ideas can be the source of we force of society in general or they can be changed into profitable economic activity for a whole regions.

    Sometimes youth’s ideas may not be totally compete or fulfilled it is better to express them and the old person are there for advising adding something missed and encouraging us. I have notice that everything in society whether what we miss or what we have but there is need of improvement of other’s perform once inspire us to think deeply after analyzing them and look if opportunity is there, as entrepreneur we become speeded up and start to run our targeted work.

    To start a business does not ask to have much money mainly, just it is to have a willing mind, information about social standard of living and time for managing your purpose that need to be sat on intellectually and make a proper legal and oriented plan. So everybody is concerned with this self reliance motivation and empowering entrepreneurship and don’t give up.

    2. Author Name: MANIRAREBA Anastase

    Essay Title: Power of Entrepreneurship

    The following essay was written by MANIRAREBA Anastase from Teacher Training College Save.

    People define entrepreneurship as a way of thinking and acting that focuses on identifying opportunities, informs action with analysis, and that is driven by a passionate individual or team. From this definition, an entrepreneur is the one who sees that there is an opportunity to do something and gets profit from it. After recognizing a business opportunity, an entrepreneur does not keep quiet and does not end by there. He or she makes decision to do that identified business and starts taking steps towards such a business. Nowadays, entrepreneurship changes completely lives, communities and nations. More details are in the following evidences.

    Everywhere, lives of people are being transformed because of entrepreneurship. Some become entrepreneurs by carrying out different activities after guessing who they are and knowing what is needed by other people. This helps them become self-employed. By employing themselves and being their own bosses, they become Independent and self–reliant. For example, in Rwanda, a man called Sina Gerard came up with an idea of producing juice from fruits after examining that Rwandans need to get it. His enterprise entitled “Urwibutso Nyirangarama” (Urwibutso Nyirangarama P.O.Box 3652 Kigali) started a small enterprise but today, it has expanded country widely.

    Also, apart from his initiative, he provides other people with jobs and work as his employees. This changes their lives because they get salary and use it to run their families and to satisfy themselves. This man not only gives them jobs but also satisfy needs of Rwandans. Before starting his enterprise, Rwandans could not get enough juice. After seeing that it is needed by people, he started this enterprise of producing this healthy juice. Thus, Rwandans are getting the juice which contains vitamins .He also started manufacturing the pepper, after noticing that he has got many customers. He expanded the business and started to produce it. This pepper is consumed by most of Rwandans. It makes the food delicious. That is why they like it.

    Moreover, entrepreneurship comes to transform the lives; because people in different regions create their own enterprises which speed satisfaction of human basic needs. For example, in Nyagatare district, Eastern province of Rwanda, there is an agro-pastoral enterprise done by a team. They rear animals specifically cows. These cows produce and furnish milk so as to satisfy needs of Rwandans. We may not forget Nyabisindu Dairy where people treat milk very well and pack it in boxes. This milk is good in quality and rich in nutrients. It is consumed by many people as it is sold at affordable price. Thus, Rwandans and other people from abroad benefit from this enterprise. It is found in Southern province of Rwanda, Nyanza district (Nyabisindu Dairy, P.O.Box 6129, Butare-Rwanda). Since people are healthy because of having milk from this enterprise, lives of people get transformed as it helps them improve their standards of living through carrying out activities which bring income to them or other profits.

    In addition, entrepreneurship transforms communities. Before starting any business, an entrepreneur first has to know his or her community and its needs. After this, he or she works to satisfy that community. This should be done well. It is too important to continually reflect on community’s needs as well as your knowledge, passion, and skills and as a result, reshape your opportunity. This helps the community continue getting what is needed. For example, in my village, a man had realized that people need tomatoes. He got the place where he could buy them and sell them in the village. The community became very happy for it was difficult for them to get tomatoes.

    As mentioned above, they could go far in order to get them. After this, the community started saying that they need onions. This man listened to them carefully and started looking for the ways he could get other money to sell onions. He borrowed money from a friend and started selling onions and tomatoes. Now, he is working well and the community likes him very much as he satisfies different needs to the community. From this highlighted example, the man gets money and in return people get what they need. It doesn’t call for a special degree but only passionate, skills and attitudes. This is how entrepreneurs are getting powered through their entrepreneurial activities.

    It is said that business men are always respected and recognized in the community because they tend to contribute to development of Community. For instance, people work together in cooperatives like RWASAVE in Gisagara district, Southern province of Rwanda. This cooperative keeps fish in pounds and as a result gains money and satisfies the needs of other people by supplying fish to eat.

    More importantly, through means of transport very easy, entrepreneurs have noticed that people are not getting their destination on time. This encourages them to create enterprise so that they may serve them. As an example, ATRACO transport agency (ATRACO̦P.O.BOX 3409, Kigali), is popular to all Rwandans. Their buses transport people in different regions of the country. Indeed, it has developed the country by employing local people. People owning enterprises employ others to work for them and are paid. For example, in Rwanda, there are industries which produce different products such as CIMERWA, located in Bugarama, western province of Rwanda. This is because of limestone soil that is found there. People who live near this region have been offered jobs. They get salaries and they are now satisfied in their communities.

    Also, we cannot forget that entrepreneurship transforms nations. In different countries, there are entrepreneurs. Some work for themselves and others employ others. This enhances the country’s development because people gain money and pay taxes. They encourage innovations in the country .As an Austrian economist Joseph Schumpter stated in a book entitled New Venture Creation, he defined entrepreneurship by putting an emphasis on innovation such as new product, new product method, new market and new form of organization. The wealth is created when such innovation results in new demands. We can say that these innovations bring wealth in the country.

    Also, so many people work to preserve the culture of their countries in which they live. For example, according to Rwanda culture, there are people who do cultural activities like weaving basket and arts. These activities are done in different areas in Rwanda especially in Kigali city. These baskets are attractive. The tourists buy them whenever they come in Rwanda. Also, other Rwandans buy them for decorating or other purposes because they are accepted in Rwandan culture. Hence, they gain money from small projects other are used to neglecting in the society. So, entrepreneurs who do those activities preserve culture of our nation and it is developed because those who buy these products pay money .This money can be used in developing the country.

    On the other hand, it transforms nations because there are people who work to fight against illiteracy in their nations. For example, people who identify education as need, they leave no room for them to generate any business ideas other than starting schools. As an example in Rwanda, we may say the establishment of the National University of Rwanda in 1963. Now, people who are ending their studies in this university are able to create their own jobs. To illustrate, Timex Limited known as “La Réponse” is a small enterprise owned by a former university student.

    Entrepreneurship changes nations because people think and bring things which are important to all nations. From Alexander Graham Bell invention, we have a tangible example of how entrepreneurship is powerful. He launched the telephone communication industry with the telephone. Bell invention of the telephone may have been in great part an accident .Bell had been working for years on a way to improve communications for the deaf and hearing impaired people. He really wanted to create a hearing aid, but his mechanical voice box produced the telephone. This is stressed in the book of entrepreneurship entitled ‘New Venture Creation”. Little by little, this has been transforming the nations because the telephones are used all over the world by many people to communicate.

    To sum up, entrepreneurship is everywhere and is powerful. It is a problem solving technique and way of thinking in which problems, wants or needs of group of people are identified as an opportunity. So, with entrepreneurship everything can possibly be achieved as it transforms the lives of the communities and nation’s. This is because of people who do different activities. These activities help the business owned and others may benefit from them. The nations also are transformed because of entrepreneurs. Due to their work, they pay taxes which are used in development of countries in which they live by fighting against poverty.

    3. Author Name: Kalitanyi Kayitesi Ange

    Essay Title
    : The Power of Entrepreneurship

    The following essay was written by Kalitanyi Kayitesi Ange from Gashora Girls Academy of Science and Technology

    “Entrepreneurship rests on a theory of economy and society. The theory sees change as normal and indeed as healthy. And it sees the major task in society – and especially in the economy – as doing something different rather than doing better what is already being done. That is basically what Say, two hundred years ago, meant when he coined the term entrepreneur. It was intended as a manifesto and as a declaration of dissent: the entrepreneur upsets and disorganizes. As Joseph Schumpeter formulated it, his task is “creative destruction.” by Peter F. Drucker. Entrepreneurship can be defined as a way of acting and thinking that focuses on identifying opportunities, informs action with analysis, and is driven by a passionate individual or team. Therefore, it is more practical than theory. It involves risk taking, resource organization, innovation and initiating. According to the Austrian American economist Schumpter, an entrepreneur is a person who is willing and able to convert a new idea or invention into a successful innovation. The entrepreneurship helps the entrepreneur to answer the question of why, where and when to set the business and finding what is needed in the community. I believe with the help of entrepreneurship, an entrepreneur acquires skills and knowledge that help him/her to transform lives, communities and nations by providing employment, eradicating poverty and acquiring new skills among others.

    To begin with, entrepreneurship leads to eradication of poverty in the world. Starting from my community where I study, there are many people around the school who are very poor; my community service club is trying to help these people by using different ideas to overcome their poverty. What came up first, was establishing a small business in order to help the unfortunate. Due to the knowledge we acquired from studying entrepreneurship, we came up with an idea of selling popcorns around the school during the weekends. As of now, my club has earned more than eight thousands Rwandan francs from one sale .The money received from the sale will be used in assisting the poor people to satisfy their simple basic needs like soap and others. Moreover, a successful Rwandan entrepreneur Sina Gerard pays school fees for over 891 young people from poor families (mostly his workers). “I finally thought it worthwhile to support the school project since I saw the need to be responsible for my employees and their families. They work for my company and I make a profit out of their work. The least I can do for them is to give back something to them. That is what I am doing with the school project. The schooling is free and the children can attend from nursery to high school.” Sina Gerard said. As the youth is the power of the country, the support got from Sina Gerard will transform their lives by putting into practice the knowledge obtained from school, hence transforming their communities and the nation.

    To add more, entrepreneurship leads to employment opportunities. The role of an entrepreneur is to put together all the factors of production; land, labor, capital and creates employment for himself while giving jobs to others. For this reason, successful businessmen like Larry Page and Sergey Brin established Google Company which employed 44,777 people in 2013. Another example is that, the branches of Rwandan Mountain Tea Company together offer about 15000 jobs to the rural communities. Entrepreneurship is not only about creating jobs for others, but the main reason why entrepreneurship education was introduced in secondary schools of Rwanda, is because the government wanted to solve the problem of unemployment among its citizens. Many people were completing their bachelor degrees and failing to get jobs. What entrepreneurship education helps is to put the knowledge nourished from school into practice. It helps the learners to become job creators instead of being job seekers, thus improving people’s income and standards of living and transform their lives, communities and the nations as well.

    Notably, entrepreneurship leads to acquisition of life skills. Starting a business is not just something that comes into someone’s mind and acts on it immediately. It takes a long process to come up with a business idea, good goals, and self-confidence and develop leadership skills. A business idea can be a response of an entrepreneur to solve an identified problem, and meets perceived needs in the community. Entrepreneurship assists the entrepreneur to come up with good business ideas that are visible, realistic and feasible in terms of production costs. It also supports the entrepreneur to emerge with an original idea to avoid competition and so captures the whole market. Not only does entrepreneurship help the entrepreneur to introduce business ideas, it endorses the entrepreneur to be good at goal setting in order to set SMART goals that are specific, measurable, attainable, realistic, and achievable in a time frame so as to help the business to prosper instead of collapsing. Besides, it assists the entrepreneur to build self-confidence and trust in his or her abilities and gain the courage and determination to address effectively any problem that may arise in the business. To add on, entrepreneurship trains an entrepreneur to possess the qualities of a good leader who is able to guide, influence, direct correctly and persuade his employees and the public. Entrepreneurship skills positively impact people’s lives and communities and nations are transformed.

    Furthermore, entrepreneurship leads to provision of goods such as clothes, food and drinks. For instance, Mukwano Enterprise from Uganda which serves many counties including Rwanda produces variety of goods such as cooking oil, soap and biscuits which are needed in the community to satisfy their needs. More precisely, Unilever Company an Anglo-Dutch multinational consumer goods company produces products such as food, beverages, cleaning agents and personal care products. I believe that a good company is a company which produces goods basing on what the community needs and worked under the norms of the society where it is located. So the Unilever Company managed to produce variety of goods needed by the society, hence reducing imports and depending on other countries because it is able to produce products that satisfy the country.

    Additionally, entrepreneurship promotes international trade, which eventually leads to international friendship and recognition. More precisely, Rwanda is the first country in the East African community which produces tea with high quality. Rwanda called upon entrepreneurs to invest in tea and coffee growing and to establish many tea factories and so the two crops are among the top exports that register high revenue for the government. By 2012 Rwanda ranked 30th in the world economic forum as the most competitive country in the world. The total exports of the tea sector alone amounted to 55.7 million USD in 2010. The Rwandan coffee and tea are mainly exported in China, United States of America and European countries like Belgium. Goods like Akabanga (pepper) and Agashya (juice) are also exported by Urwibutso Enterprise which is owned by Sina Gerard (from Northern Province of Rwanda) to South Africa. This has fostered friendship between countries at the global level. Therefore, countries may learn much from one another and use the acquired knowledge to ameliorate their communities.

    Entrepreneurship leads to improvement of infrastructure. Infrastructure is basic physical systems of a business or nation. Transportation, communication, sewage, water, schools, hospitals and electric systems are all examples of infrastructure. These systems tend to be high-cost investments; however, they are vital to a country’s economic development and prosperity. For instance, two successful women from United States of America, Suzanne Senegal McGill and Shalisan Foster built my own school in Rwanda called Gashora Girls Academy with the purpose of empowering girls from Africa and also helping the country to recover from its bad history. Lastly, MTN Company based in South Africa which is a multinational mobile telecommunications company operating in countries like Ghana, Republic of Congo and Botswana improved the communication of the counties. I admit that communication is a key to development of countries because, by adopting the system of using communications in countries like Republic of Congo, it will impact the country positively and as well its citizens.

    In conclusion, entrepreneurship has an unlimited power to shape the future of a country. It is undoubtedly crucial since it helps in the eradication of poverty, provision of employmxent, acquisition of daily life skills, and improvement of international relations. Collectively, such benefits associate to raise the standards of living of individuals, develop societies and strengthen the economy of a country. It is therefore quite important to prioritize entrepreneurship in a nation in order to ensure a straight path to a sustainable development.


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    Wesley chunda
    14-05-2016 à 09:03

    through entrepreneurship, we can end poverty in africa yes we can !








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