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Entrepreneurship
Entrepreneurship is a process of discovering new ways to carry out necessary business activities to
generate profit by taking risk.
“When you create more small businesses, you create small entrepreneurship. Out of that comes self-
determination and employment.”
Jesse Jackson

Entrepreneur
Entrepreneur is the initiator, risk taker who has the capability and is willing to manage, organize and
utilize the resources to establish a small business enterprise to make money through profit or risk.
“An entrepreneur assumes the risk and is dedicated and committed to the success of whatever he or
she undertakes.”
Victor Kiam

1. OVERVIEW OF ENTERPRENEURSHIP

1.1) Entrepreneurship past growth of entrepreneurship in
Pakistan or in international level:

Before 16th century the history of entrepreneur believed that it was simple someone who seized tasks,
contraction buildings projects, there is no concept of building their own small business they presently
did work whatever government said or allocated them, subsequent in 17th century peoples struggle and
focusing to facilitate why they not make money by allocate small firm thus they initiate focusing it after
that they realize it’s an exceptionally first-rate approach by which they were able and competent to
make money or to suppose and expect their own business ,micro polo was a Italian men who first make
efforts to set up his miniature business and start trade routes to Far East. , Marco Polo was sign a
contract amid with money person to sell his commodities and providing loans to the merchant–traveler
at a 22.5 percent rate, as well as insurance and also bearing all physical and emotional risk as a result
people start trust him due to which he is able to extend his business or make it lucrative and profitable
after that there was plenty of supplementary business ideas was implementing as a result people
started to took interest to why not they make their own business or to make money so they started
working on it and between 17th to 18th century new industries revolution started that turn out the part
to change people’s life style later than in the 20th century entrepreneurship start mounting, john
Morgan started his large scale bank and managing financial business and implementing new technology
that helped to maintained financial statistics and after that many people tried and built their business
such as John Baptiste, John Stuart Mill, and Alfred Marshall all are make their efforts and become the
successful entrepreneur.

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Since the 1980s, Entrepreneurship has revealed radical changes in the economies of the globe as long
as the mankind, through innovative domains of globalization and become interesting among
management scholars and social scientists. Lots of business come in the existence such as, railroads
shipping, cargo, transport; factors business etc. and by this early age lots of historians and chronological
had stirred afar the institutional perspective in the direction to accentuate the approach and agency of
entrepreneurs within the progression of profitable transform. These studies alert awareness on the
imaginative organization and subjectivity of individuals in the development of cost-effective change.
During the 1940s and 1950s people started their own small business and industries that help to
contribute in GDP of a country and in 1980 People start emerged as a matter of rising awareness and
tried their greatest to set up small businesses or to set the example of successful entrepreneurship.
There was also the great example of Muhammad Yunus, a Nobel Prize champion who craft his efforts,
work hard and made it achievable for the unfortunate nation in Bangladesh to acquire away diminutive
loans through a peer-lending mold at Bank after that people started to allocated their business by latest
and innovative thoughts as an effect entrepreneurship ratio of business started growing.

 Past growth of women entrepreneurship

Since before 20
th
century in most Asian countries, the roles of women in the business was very stumpy,
due to their culture values and if we look reverse by the side of the country before the 20th century,
there is no concept of entrepreneurship into traditional ladies, they infect tightly delimited or taking
care of the kids at residence, and only allowed to serve a goblet of tea. But after some instance women’s
started their small businesses in homeland. percentage of women’s entrepreneur increasing in some
Asian countries also like china because women’s in China attained identical human rights at a extremely
late stage as a result Chinese women turn out to be so victorious now a days and due to which women’s
entrepreneurship initiate growing and increasing day by day and gender differences almost got
terminate in several era and start rising not merely in china but also in India, Pakistan or many other
Asian countries.

1.2) Present of Entrepreneurship in Pakistan and in
international level;

Entrepreneurship is of vital importance for any economy’s growth because it involves the majority of the
population that varies from the rich to the poor. Thus, providing opportunities to all individuals to
flourish and grow. In the present situation of entrepreneurship rejects tremendous growth in almost all
extents of the field. The interest of individuals was never too high in entrepreneurship as it is now days.
The growth of entrepreneurs to the role of traditional heroes is a significant development. For the
women, 47% chose entrepreneur, more than tour guide or novelist. For the young men, 38% chose
entrepreneur, even more than professional participant. Increasingly, in many countries entrepreneurs
are becoming "traditional heroes."
In Pakistan we have rarely witnessed entrepreneurs leading from the front in order to increase the
economy, nor government ever focused on the importance of the matter. . Although it has strong
potential to be an entrepreneurial nation, there are certain problems that prevent it from being so. The
first is the entrepreneurs’ effort to become wealthy immediately, without having to move up the ladder
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gradually. To development of an entrepreneurship culture in the Pakistan, the system of laws and
policies that are supporting it will have to be taking separately.
Pakistan released its potential once again at the global stage as it has been ranked no 2 on Arabia Fast
Growth platform, terming it a rising focus of talented entrepreneurs.
Each Pakistan entrepreneur on the grade has developed an average of 40 percent annually between
2008 and 2010, created an average of 200 jobs per company, and is succeeding in industries ranging
from web technology to transportation, food to textiles, and construction to consulting.
Number of programs aimed at helping growing entrepreneurs, preparing students at all levels, guiding
them towards success in an entrepreneurial economy. It helps to promote the economic growth of
Pakistan. It promotes capital formation and creates wealth in country. It decreases unemployment and
poverty and it’s a path way to flourish.
 Some great Pakistani entrepreneur in Pakistan

There are lots of Pakistanis who make remarkable and outstanding contributions for Pakistan in creating
various incredible entrepreneurial businesses. Their stimulating journeys, their visualization and mainly
momentous dedication in the direction of their nation state was such an enormous job. we must have to
agreed tribute to them who make really work hard and established entrepreneur businesses or to make
awareness in people about entrepreneurship and increases its ratio in Pakistan ,here are some
successful Pakistanis let’s take a look,

Hakeem Muhammad saeed (medical researcher and a highly successful entrepreneur between1993 to
1996)
Yusuf haroon (down newspaper)
Khalid awan(tcs)
Agha Hassan abidi(banker)
Sadruddin Hashwani |from (Hashoo Group)
Syed babr ali(nestle)
Seema aziz(care foundation)

1.3) Future of Entrepreneurship in Pakistan and in international
level;

“Who controls the past controls the future. Who controls the present controls the past.”
George Orwell
The increasing trend of entrepreneurship will be followed in future as it had been from past.
Entrepreneurship will be the future of the world’s economy. Increased development of entrepreneurs
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at national level as well as at international level will boost the economic opportunities for developing
countries.
Experiential study highlights future as a “peak age” for entrepreneurship. The number of individual in
their 30s-40s will be the higher entrepreneur than ever before. The increase in the experience,
education will be a key to raise profits for entrepreneurs. It shows that the entrepreneurs of older age
group will be favored in future.
In future it is also predicted that there will be an increased number of young entrepreneurs as they have
more energy, time and tolerance to take risk. We will endure to perceive a much higher percentage of
effective entrepreneurs in their early twenties and teenagers.
We will grasp the enduring and strengthening existence of women in entrepreneurship. The learning
puts them into two sets. There's professional woman who's interacted and skilled but decides to break
through the glass ceiling by creating her own empire. Many women are trying to stabilize work and their
life responsibilities. That's where we get the women who had taken initiator to start a business to
benefit her family. We also discover that these entrepreneurs are the most interacted of any business
holder segment and they prosper by working in teams and supporting each other as the dual-income
society trend will be followed in future.

2. SUMMARY OF RESEARCH PAPERS:

2.1) ACCESS TO FINANCE FOR FEMALE ENTREPRENEURS IN
PAKISTAN

(A Research Report by ACCA Pakistan)

The report focuses on the main obstacle faced by female entrepreneurs in Pakistan and that is
‘lack of finance’. It highlights the problems associated with the raising of finance especially to
female business initiators and the steps financial institutions should take to alleviate this
problem. The report establishes that females usually start their business with their own money
at a small scale; although their products are potential cash cows; but are reluctant in taking
loans from financial institutions as they fear default, discriminatory attitude of the bank staff or
might be due to lack of awareness and social pressures etc. However finance providers are
reluctant in lending as there’s no proper business plan and cash flows presented by females and
absence of proper book of accounts. Therefore the government, state bank and financial
institutions should take measures to made easy access to finance for female entrepreneurs for
their business growth and expansion like government should arrange training sessions to
improve accounting skills of females, encourage collateral free lending, create awareness
among females on the ways of raising finance etc.
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2.2) Women Entrepreneurship the Emerging Workforce in 21st
Century: Turning Challenges into Opportunities
By; Ayesha Kalim
SUMMARY:-
This research paper focuses on the women entrepreneurs as the powerful emerging human resource in
this 21st century to reduce the economic challenges which are facing on the global perspective. There is
so many differences between the women of 21st century & women of last centuries. The big difference
is that women are no more traditional as they were before. They wanted to get more education &
knowledge and no doubt because this education and knowledge they become more confident. Now
they also wanted to discover new business avenues.
Women are considering as a weak gender because they are physically and emotionally weak. They
become emotional very fast. That's why people think that women can't do their work more effectively
and efficiently.
Now because of technological advancement & means of communication, the world has turned into a
global community which has created new channels for women to explore not only their potential but
also their ideas of new business avenues.
It is also indicates in this research paper that women wanted to become entrepreneurs because they
want to establish their own rules for their work, they wanted empowerment, they want to show their
value or worth among their family members & among their friends and share the burden of their family,
they also wanted to improve their quality of life and living standard or wanted. They also wanted to
establish their own identity in the society by creating new ideas.
Research has shown that in the low/middle income country group, women are most likely to be early
stage entrepreneurs between the ages of 25 to 34 and to become established entrepreneurs between
the ages of 35 to 44 years old. In high income countries, women become entrepreneur with early ages
like from 25 to 44 years old and established business ownership is from 35 to 54 years old.
In this research paper, it is also indicated that there is a need to implement policies for middle income
countries because in these countries women hesitate to enter into entrepreneurship because of many
reasons. So these policies are in the favor of developing entrepreneurship education programs for young
women to encourage them to take entrepreneurship activity as their future career.
In last, it is discussed in this research paper that women have capacity and potential to be the
contributor in the economic development of any country and play a vital role in developing the
economy. Developing countries are definitely encourage women entrepreneurship as women workforce
is promptly available to exploit the unexplored dimensions of business ventures and should focus on
entrepreneurial educational programs in order to develop women entrepreneurs.
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