Entrepreneurship Key to ‘Rebirthing’ This Fair Land

An entrepreneur searches for change, responds to it and exploits opportunities

Richard Branson believes an entrepreneur searches for change, responds to it and exploits opportunities

“In plenty and in time of need. When this fair land was young, Our brave forefathers sowed the seed. From which our pride was sprung…”

From time to time in Barbados the debate centres on how Barbadians can enable the landscape for entrepreneurship to flourish. A casual observation confirms that a large and growing Barbados middleclass is of the collin-tie variety. Entrepreneurs who are wired to deliver goods and  service of a world class standard continue to struggle and earn respect in Barbados; in stark contrast to Jamaica, Trinidad and Guyana. In fact we may have a problem defining who is an entrepreneur versus a businessman.

BU suspects for an entrepreneurship culture to take root in Barbados  an old mindset has to be dismantled and be transformed, to become a Barbados where the school, heights and terrace, media etc are respectful of this segment. BU has a view that the socialist model which has served Barbados well in a post Independence period has lost its relevance. A consequence is that a mendicant culture is flourishing. Social benefits have morphed to be entitlements in the perception of many. The end result is that we have reached a point where public expenditure has outpaced our ability to generate matching revenue. Ignore the politicians who disagree!

What will it require to energize a comfortable ‘collin-tie’ class that a different approach is needed if we are to protect the standard living we have become addicted?

Here is one of the world’s best known entrepreneurs extolling on – what is an entrepreneur:

What is your definition of entrepreneur?

by Richard Branson

Speaking at an entrepreneur event in Egypt earlier this week with President Carter, he mentioned how President George W Bush had reportedly said “the French don’t have a word for entrepreneur.”

A quick Google will tell you that the word entrepreneur is a loanword from the French verb “entreprende”, which means “to undertake”. That sounds quite fitting, as entrepreneurs are always undertaking new challenges and coming up with new ideas.

Joseph Schumpeter’s definition is pretty good. “Entrepreneurs are innovators who use a process of shattering the status quo of the existing products and services, to set up new products, new services.” Peter Drucker was onto something too when he made the following definition in 1964: ” An entrepreneur searches for change, responds to it and exploits opportunities. Innovation is a specific tool of an entrepreneur hence an effective entrepreneur converts a source into a resource.”

But to me, being an entrepreneur simply means being someone who wants to make a difference to other people’s lives.

When making a start in business with Student Magazine, I didn’t even know what an entrepreneur was. All that interested me was starting a publication to protest against the Vietnam War – and having some fun along the way. If that meant becoming an entrepreneur, then that was fine too.

Over the years the nature of entrepreneurship has changed as new businesses have developed and the world has evolved. New innovative business people will keep coming along and changing the game all over again. Was inspired at a recent B Team gathering of young business leaders who have successfully built businesses that prioritize people, planet and profits. They are well on their way to building and spreading better business practices. Here at Virgin, we intend to keep changing the game for good too.

So – what does being an entrepreneur mean to you? Look forward to hearing your thoughts.

56 thoughts on “Entrepreneurship Key to ‘Rebirthing’ This Fair Land

  1. For me, being an entrepreneur encompasses those who are always ‘trying’ to think outside the box. I stress ‘trying’ because as we all know, miracles like Google didn’t happen over night. In fact, being an entrepreneur requires a certain amount of resilience, patience, solid planning, preemptive thinking, strategic motioning, and most of all COLLABORATIVE COOPERATION in order to truly get a ‘game shifter’ so to speak.

    After all, true innovation and creativity is best stimulated by collective engagement.

  2. @Brudah-Bim

    What are your thoughts regarding the passivity of our decision making ie. government and others from civil society and the lack of entrepreneurship?

  3. @ David (B.U.)

    The seemingly pervasive spate of “innovative incapacity” that has consumed the nation has essentially shrouded it in a heavy cloak of inertia. So incapable is our government, it would seem that they are unable to truly come up with any new or relevant ways to engage not just Bajans but foreign investors as well.

    Our government is nothing short of a mere shell, clinging on to a tired legacy that bears little to no relevance in today’s ever volatile and globalized society/economy. The inability of our politicians have inhibited sustainable domestic development and a thorough means of initiating a decolonization process. Instead, we have officials who pat themselves on the backs for further compromising our nation’s economic competitiveness and sovereignty by blindly entering blatantly exploitative agreements and obliging to protocols with large hegemonic powers (namely the U.K., U.S., and Canada). As if that weren’t enough, our politicians have made little efforts to properly engage our Human resources by ceasing to massively overhaul our country’s education system so that it is up to date with current global trends and demands.

    The fact that our children aren’t being widely educated in advanced mathematics and sciences nor are they being equipped with linguistics skills in Spanish, Portuguese, or French is a SERIOUS ISSUE. As a tiny nation, our students need to be apt in multiple languages as Barbados is located in a highly diverse Geo-political/linguistic region (namely the rising Burgeoning economies of Latin America, The greater Caribbean, Africa, and China). Prioritization of our students’ mathematics and science educations will also help to further solidify the infrastructural and technological independence of Bim, lessening her reliance on her trading partners (and maximizes profit).Not to mention that the government has lagged severely in completely restructuring its political system so that it can directly engage the Bajan people, maintains a dynamic and up-to-date bureaucratic network, as well as developing a market-savvy brand to sell to prospective investors.

    But perhaps the greatest sin of all is our official’s incapacity to encourage Bajan economic growth on the platform of domestic productivity (ie. manufacturing) specialized in and creating niche markets/products. Our country’s unhealthy reliance on foreign corporate-based tourism/service companies has proven to be a hindrance. Had our government been preemptive 20 years ago in properly structuring and funding our nation’s education system, Bim would now have Bajan owned technological institutes that specialize in manufacturing technologies made from cellulose and other innovative firms. Bim would/could in fact be at the center of “Green” technologies production.

    Instead, we go along the lines provided to us by the Giants of the north, content with scraping the burnt rice at the bottom of the pot; while the likes of the UK and US scarf down quickly how much they can ingest. It is a travesty indeed, for our nation’s society as a whole would function differently and more efficiently under a regime that is truly focused on SUSTAINABLY harnessing our human capital strategically for optimum profit maximization.

    As you know, I’ve already pointed out ways countless times on how the government can restructure itself politically as well as economically in order to achieve such a task. However at this point, it would seem that it is now a matter of will. Not just within the parliament, but in regards to Bajan society and its willingness to hold its political/administrative officials to full account for thorough change. However, it would seem that even the Bajan people aren’t really keen on doing this either, as we would have already seen Bajans taking to the streets outside of parliament as of sixth moths ago.

  4. what happen in Bim can be attributed to a mentality indoctrinated by those who believed that bajans are only to be professional and govts failure to believe in its people. one just have to a take a look back in an era when the real barbadians ” entrepreneurs” sustain there lives by the very things that the WEST hold true and dear helping to build there financial empire, a needle worker ‘ a tailor., translated today has become a “fashion designer commanding millions of dollars peddling there goods worldwide to small markets like barbados. my question is where did the same spirit which enable the older generation of barbadians to live and thrive and propelled them to becoming present day entrepreneurs go ? . recently i quipped about boat builders and was taken to task inside of every one with a skill and a desire is a will to be an entrepreneur if given a chance

  5. Our educational system puts every child in to an intellectual straight jacket. We should be rightfully praised for giving our children a thorough grounding in English and maths, but we miss out in not encouraging them to think beyond the rigid curriculum. “Entrepreneurs” in Barbados could be currently defined as vending and suitcase trading, which is only apeing the established “import and mark-up” trading system, and they only succeed because their overheads are low and, by and large, they avoid taxation. Our children leave school with little or no knowledge of how the world outside school actually works, and with no knowledge of what is expected of them in the world of work. An entrepreneur will result from a person aquiring a particular set of skills, and then using those skills to exploit an opportunity nobody else has seen, or to improve on an existing service or product. We have to allow our children to think in that way, and it means modifying our educational system.

  6. How can there ever be an “Entrepreneurial” esprit de corps (coeur) in this country where the government is seen as the wet nurse of the people? Privatization is the precursor to enterprise expansion and like red bull entrepreneurship can give wings to any further economic growth. There are many on this blog like ac, CCC, and Clone, who are against “Privatization”. But the day of deliverance is coming very soon when “entrepreneurship’ will visit us and snatched us away from the arms of our wet nurse.

    The same way ‘Necessity is the mother of Invention’ ‘Entrepreneurship will be the mother of Survival’ when thousands of public sector fed babies will be forced to cut their umbilical cords and swim in the private sector sea with only entrepreneurship their only lifeline.

    @ Peltdownman | December 4, 2012 at 8:04 AM |
    “An entrepreneur will result from a person acquiring a particular set of skills, and then using those skills to exploit an opportunity nobody else has seen, or to improve on an existing service or product.”

    Well said Peltdownman! Now let us see how enterprising in thought you can be.
    Would you support me for my call on government to decriminalize the growing of cannabis sativa aka marijuana? The growing of marijuana can provide opportunities in an alternative industry that has great potential in a changing environment towards a “greener” and sustainable eco- based economy. It fits squarely into the RE philosophy and can transform the existing fields over run with bush and dumped garbage to a green landscape with well kept “grass” fields as the source of the raw material to propel a brand new exciting industrial movement to replace the dying sugar industry.

    Below are a number of potential enterprises with online shopping facilities that can arise from growing marijuana that only a few brave hearts like Amused and Technician (possibly Brudah-Bim):

    BABY NATURALE Cloth Diapering Products in Hemp, Unbleached, and Organic Cotton
    BAREFOOT YOGA CO. Stylish, Functional Clothing Made with Natural Hemp Fibers
    DASH HEMP SANTA CRUZ Upscale Hemp Clothing, Including 100% Hemp Jeans, Hand Loomed Shirts, Tops, and More
    DEAR LIL’ DEVAS Yoga Mat Bags, Unisex Yoga Pants, Denim Hemp Pants, Made in Canada
    ECOFABRIK Hemp Clothing for Entire Family. Screen Printed with Earth Friendly Water Based Inks.
    ELLECANTE Where Design Embraces Nature, Exclusive Designs, Luxury Apparel and Accessories, Organic Certified (GOTS).
    FAERIE’S DANCE Hemp Clothing is All Grown Up. Stylish, Sophisticated Fashions Along with Organic Cotton, Soy and Bamboo.
    FASHION & EARTH Women’s Hemp Clothing – Get 50% Off Select Items While Quantities Last
    GREEN MOUNTAIN DIAPERS Hemp/Cotton Cloth Diapers
    HEMPUSA 50% Hemp Protein Powder, Hemp Seeds, Hemp Oil – the Anti-Inflammatory Food That Can Change Your Life
    IRISH TWINS SOAPS Vegan Soap Made with Hemp Seed Oil, Lime, Patchouli & Bergamot Essential Oils. Big Bars.
    MATSMATSMATS.COM Extra Large Designer Yoga Mat Bag Made of Hemp
    NATURAL CLOTHING COMPANY Earth Friendly, Organic and Natural Clothing (Hemp, Organic Cotton, Bamboo Etc.) for Women, Men, Children
    SOAP FOR GOODNESS SAKE Hemp Towels, Hemp Organic Sports Socks, Hemp Handmade Soap
    SOUL-FLOWER.COM Hemp Clothing and Accessories for the Whole Family
    SWEET SKINS Fresh Fashion in Hemp, Eco-Fleece and Other Conscious Materials
    THE VEGETARIAN SITE Hemp Wallets, Bags, Purses, Shoes, Belts, and More

  7. @ millertheanunnaki | December 4, 2012 at 9:21 AM |

    “Below are a number of potential enterprises with online shopping facilities that can arise from growing marijuana that only a few brave hearts like Amused and Technician (possibly Brudah-Bim)..” should read:

    “… that only a few brave hearts like Amused and Technician (possibly Brudah-Bim).. would openly support”.

  8. @Miller

    Did you read what Branson had to say on the subject of entrepreneurship? How is gifting public agencies to an unimaginative private sector be the catalyst for an entrepreneurship ethos to suddenly engulf Barbados?

  9. @ David | December 4, 2012 at 9:42 AM |
    ” How is gifting public agencies to an unimaginative private sector be the catalyst for an entrepreneurship ethos to suddenly engulf Barbados”

    Are you sure you want to maintain that description of the local private sector? Nobody expects instant or mercurial results but we either sink or swim in the coming year.
    Are you implying the Peter Boos and his College for Entrepreneurs is a waste of time and money?
    Tell us, David, where will the catalyst come from? Trinidad?
    What do we do to save our sorry asses in the coming months? Sit down, twiddle our thumbs and be critical of every “entrepreneurial” proposal put on the table?

    You along with me support the RE transition but is that all we can do? What about a real green economy and growing marijuana to underpin a new agribusiness similar to what is happening in other more enlightened markets, some in the USA.
    Should we continue to put our eggs in the tourism basket and gamble on a good winter season? Should we live in hope of a large oil find off Barbados?

    What should we do, dear David?

  10. millertheanunnaki asks “Should we continue to put our eggs in the tourism basket and gamble on a good winter season?”


    The BTA should be in extreme aggressive marketing and promotion mode to get tourist for this season.

    millertheanunnaki wrote “growing marijuana to underpin a new agribusiness.”

    FOOD security and import substitution is my preferred option.

    Peter Boos and his College for Entrepreneurs should be supported but there is no Business other than drug dealing that will become profitable immediately. hence my position that we should try to maximise Tourism promotion while waiting for the “Entrepreneurs”

  11. @ Hants | December 4, 2012 at 10:29 AM |
    “FOOD security and import substitution is my preferred option”

    An enterprising objective since the days of Carmetta Fraser’s “Food Comes First” campaign”.

    Tell us Hants how do we achieve (or even start) this option in the face of a dying sugar industry (while Jamaica’s is prospering) and an annual food import bill of approx. $700 million?

  12. @Miller

    Let us keep the conversation channel open, we need to. Privatisation obviously has to figure as an option but it must not be conveyed as the panacea to solving our problems.

    BTW, Peter Wickham is on the radio continuing to champion privatisation as is his right. We must keep front and centre that privatisation is part of the issue but it is not a strategic response.

  13. @ David | December 4, 2012 at 11:29 AM |

    No one is looking for panaceas. We are not living in the land of Zeus or expecting Utopia on Earth.
    What is required are proposals like the marijuana business enterprise being put on the table.
    Just saying it can’t work and it is immoral is not enough. So if bold imaginative proposals like the marijuana agribusiness is not up for discussion what else do we do other than carp?

    Dismissing the privatization proposal on the grounds that it would lead to the further selling of the family silver is just another cop-out. The remaining family jewels still in the broken box are in need of a good cleaning and polishing if they are to shine again and appeal to the eyes of international lending institutions.
    And David you better believe that one on the major conditions for avoiding further downgrades and IMF financial support is that the family silver must be put up for sale to proper private sector jewellers who can efficiently and profitably maintain the shine and value.

    Now let’s get a strategic response!

  14. David
    “President George W Bush had reportedly said “the French don’t have a word for entrepreneur.””

    And all these years I thought “Entrepreneur” was a French word … HA HA HA.. These Bushisms can’ stop showing up … HA HA HA

  15. @Bruddah-Bim

    Thanks for your well thought out comment. Neither political party seem to have the capacity to unleash ‘quantum strategies’ to guide us in the mid to long term.


    BU is populated with several ideas. The one we remain sweet is what a well designed CIB bill can do to explode a new economic activity in Barbados.

  16. David | December 4, 2012 at 2:30 PM |

    Agree. The CIB is crucial for the existence of an effective framework for the further development of cultural activities and establishing that sector on a viably economic footing with its forex earning potential and unlimited international focus and tourism spinoffs operating from an ICT platform and viral launching pad.
    We need to get this bill up and running to piggyback on the Rhianna success story before she fades.
    BTW, do you know the reason for the current delay? This bill is 5 years in the making and is more important than any IL or FoI legislation given the reducing economic options available to our young people.

  17. @Miller

    You need to ask Minister Lashley or his sister in law. Getting timely and relevant information out of this government is like pulling teeth. Can you imagine this government promised transparency in government?

  18. @ BAFBFP | December 4, 2012 at 2:13 PM |

    The French have a word or phrase for everything under the sun; even “ Je ne sais quoi”.

    Unlike English, French is a ‘refined’ language. The English could not even properly renamed Portuguese Los Barbado(e)s unlike the French who called it La Barbade.

    Even The word “parliament’ is French in origin. If Duguid were a really cultured man he should have exclaimed (sotto voce, of course) “Portez la vagin de votre mère”; and the average Bajan including the dumb Speaker would not have had a clue. There goes that sweet harshness to describe the secret garden leading to the gates of “barbadienne”.

  19. There is no shortage of entrepreneurs in Barbados,trouble is ,they are not your average Barbadian. A visit down Cavans lane last week,revealed what looks like a thriving business, set up in one of those old bond houses opposite the BTA car park. We are calling on Government to rebuild the old Empire Cinema, while others are coming in here, taking hold of old buildings and building thier own empires.

  20. Entrepreneurs are born, they can be the brilliant ones in class that are being accused of talking too much, asking too many questions and always want to do thing their way. These traits are knocked out of children as early as they emerge by some educational institutions, only some of the stronger children will survive many times with damaged psyches. Brilliant minds are silenced everyday in the class room.

    There is no provision in our education system for children to think outside the box. Some regain that indomitable spirit as they move into their late teens to early twenties. Sadly the thing call life steps in the way and many dreams are put on hold or given up in order to eek out a living.

    Today’s entrepreneur is someone who is fearless, someone who can feel success in their belly while working towards it. Failures are seen as experiences to learn from on the path to success. Keep focused, be flexible and don’t take no for an answer!

  21. Hants | December 4, 2012 at 10:29 AM |
    FOOD security and import substitution is my preferred option.
    Are we conscious of the fact that there are more people in Barbados,employed in weeding and debushing alongside the roads, cutting lawns, horticulture and ornamental gardening, than in main stream agriculture providing us with that Food Security that we are longing for, but doing nothing about.

  22. @Colonel Buggy,

    It is sad but Bajans want duh food from Amurca an Canada.

    If there is no world economic boom soon Bajans will learn the hard way.

    No Forex no food.

  23. Your above is actually quite relevant. Maybe there is some good in the obsessiveness that is demonstrated in your need to gather info on every damned thing under the sun. Thank you.

  24. Entrepreneurship ties in with Privatization
    The Transport Board’s dismantling is a good launching pad for Entrepreneurship. Many many small business persons will result, So when for political reasons some are saying no privatization and then saying yes to Entrepreneurship, they are confusing others and themselves.

    Same for other large businesses . Lets dismantle them , Greed and selfishness will dissappear too.

    • @Just Asking

      You obvious have read nothing, simple trying to squeeze your view into the bottle.

      On 5 December 2012 00:29, Barbados Underground

  25. @David (B.U.)

    “Thanks for your well thought out comment. Neither political party seem to have the capacity to unleash ‘quantum strategies’ to guide us in the mid to long term.”

    And I thank you for putting up a very and concise piece that was fully engaging. I appreciate your voice (despite its rarity). I am guessing that this is due to the fact that B.U. is a portal aimed at incorporating the voices of readers and facilitating an appropriate environment for mature dialogue (despite the trolls). It is not an easy task to uphold such a balanced atmosphere, but I commend you on your seemingly endless effort to continue to strive and provide room for Bajans to collectively come together from all distances and have discourse on matters faced by our society.

    And it takes a special amount of bravery to continue to sound the alarm (as is needed) when things are not looking to bright on our shores. We as Bajans must remain aware that staying up-to-date and aware of global trends and issues is of the must absolute importance to our nation’s survival. We have seen the effects of having a louse-housed government filled with parasitic fat-cats; and how it further deepens the disconnect between the ever dwindling middle/upper class and the burgeoning of the working poor.

    Your persistence may go unnoticed for now, but no one here can say that no one has ever tried to bring about some form of awareness (if not change). I would say that I have faith in my Bajan people. However it would seem that faith alone cannot bring about any shift from the current self destructive path Bimshire is treading upon.

    • @Brudah-Bim

      Our effort is not unnoticed which was demonstrated in parliament today. They are listening and we should continue to kick them in the butt; harder.

      On 5 December 2012 01:09, Barbados Underground

  26. “They are listening and we should continue to kick them in the butt; harder.”
    so are you thinking that these people CAN do much better and merely need the proper incentive to do so? …..or have we concluded long ago that they are INCAPABLE of raising to the required level because they do not possess the required mettle….

    …when will you put on your pragmatic hat and endorse BAFBFP and Bushie’s call for the BUP?
    Caswell and Islandgal will listen to you…!

  27. May Allah guide you.

    Bushie joins Brudah-Bim in thanking you for your hard work and outstanding contributions to BU. You are truly amazing….

    When BUP gets going, Bushie will give Caswell a call and recommend that you be interviewed for the post of PM.

  28. he could afford to say what ever he want.
    we all know he lucked out with his first deal and became rich through pure luck and chance and want to give advise..well well aren’t we special ??????
    wish i could buy a island for 20 gran and den sell it for a million.
    sounds like hard work.
    piss off moron.

  29. Branson’s latest missive:
    Why you should treat 1 million people the same as 1 person

    Richard Branson
    December 03, 2012

    Thanks to everyone who has joined in here on LinkedIn as we share thoughts and ideas on the site. It’s incredible that more than one million of you have got involved and started following me within the past six weeks.
    While it’s difficult to comprehend such a huge number as one million, the same can be said when thinking about customers in your business. When you start a small company, it may be hard to imagine getting to a few hundred customers, let alone millions. The key is to think about customers as individuals and to treat them that way, rather than just looking at a mass of statistics.
    It is important to get feedback from individuals so you stay in the loop and can pick up new suggestions and nip potential problems in the bud. This week I have spoken to customers while on a Virgin Atlantic flight and in a Virgin Active gym to get first-hand feedback on how we are doing and what we can improve on. Hearing on-the-spot opinions can give you a real insight into what is going on, both positive and negative.
    Also, if you are anything like yours truly then you will know the delight of meeting new people. While it is great to talk to large crowds, you can’t beat the intimacy of one-to-one conversations.
    There are many similarities on social media. Although it is impossible to reply to everybody all of the time (though I try to reply to as many of you as possible!), I make sure I look at your comments and learn how we can improve. There are great ideas being shared on LinkedIn every day, so have a look at what other people are saying to pick up some fresh inspiration.
    When you post your own ideas, it is worth imagining that you are speaking to one person, not broadcasting to the whole world wide web. Try to talk to the online world in the same way as you would your friends in the office or down the pub. Everyone loves a personal touch, whether it is going the extra mile to help somebody, or simply saying thank you.
    One other thing: apparently the only continent none of you are from is Antarctica. Having travelled there earlier this year, I can thoroughly recommend visiting to anyone who gets the chance. And if you do, remember to log  on while you’re over there!

  30. so he is an entreprenuer! hope you not stepping into a racist pool of doo.i thought the premise were the keys used by succesful entrpneurs regardless of colors . however i noticed you did not used similiar refence to branson who is to white and not bajan. what am i missing here.

    • @ac

      This has nothing to do with being racist. It has to do with a business climate which at the time – and still does – accommodate(d) White more than Black.

      On 8 December 2012 23:23, Barbados Underground

  31. btw leave that racist crap for those who do not understand that in the business of finance , the bottom line is the dollar and color does not matter when ideas achieved the desired result and most important of all it is what one learns from those who have been successful. i thought better of you david, however now i know better

  32. recently cbc did an interview with a black bajan woman who started her business with fifty dollars. now that is a story to be told because this lady had to make a decision between paying her bills short term with her fifty dollars and being able to make the fifty dollars make long term gains in her life generating enough cash and giving her the financial freedom long term to pay her bills.she weighed the decision on long term gains using the fifty dollars to buy needed products to start her own business now she is on her way to becoming a successful entrepreneur starting out with fifty dollars.

  33. That video was posted on BU by Hants over one year ago. Anybody who understands the business culture in Barbados understands that the Caves, Simpsons, Weatherheads, Seales, Goddards et al start with an advantage in Barbados. Even James Husbands of Solar Dynamics was fronted by Rev Andrew Hatch.

  34. it does not mean that when these people open their mouths like branson and williams who have been successful that we close our ears and only focus on their color no matter how much money they have and people to front for them it comes down to their ideas and their commonsense applied in helping them to building a successful business.there are lots of people with great ideas but they still have to know how to master the dynamic and techniques which are made up of selfwill and determination and “never wanting to lose” to become successful .those are the areas which money can”t buy but can be gotten by learning from those who have been there and done it.

  35. Great discussion David but no pain no gain.

    Barbados will remain a profit centre for the rich capitalists.

    Civil servants have to buy comsumer goods from the merchants.
    Bajans must have de same tings as amurcans an canadians.

    get my drift?

    • @Hants


      Several issues at play here. A country which as you stated correctly is fat and lazy in thinking and therefore it makes it difficult for entrepreneurship to take root. We have a business class which is entrenched and institutionalized.We have a banking system which is ultra risk aversed. We have a climate where decisions around business facilitation is done along political lines. We have a country where to be an entrepreneur is to be less than successful in a country where status rules!

  36. david i am not clueless to anything about race and class . however another point of view given as to the other ways how many succesful business person acquire the knoweldge and skill to build succesful business should not be understated..also an important point in the video which should be underscored is cows mother influence in planting a most useful piece of information which also help him in gaining wealth..it is a combination of having good information and applying it in a most forceful and effective way and the only way to know is to get such information from the source when it is given.

  37. Your Banks parents doing very well………..in Canada. mmmmmm

    TORONTO CIBC says it had $852 million of net income in the fourth quarter, an increase of nearly $100 million from the same time last year.

    Royal Bank of Canada has reported record net income of $7.5 billion for the year ended October 31, 2012, up $1.1 billion or 17% from the prior year.

    Bank of Nova Scotia had $1.5 billion of net income for the fourth quarter, a 31 per cent increase over the same time last year that took Scotiabank to a record annual profit.

  38. Sorry to burst your bubble guys, but Doctors, Accountants and Lawyers, the big three, are entrepreneurs too … You see this is how they see themselves as a result of the fact that they are self employed. They would scoff at the other elite academic-types like actuarials and economist as these are always forced to seek employment.

    I am concerned with ONE type of entrepreneur, and that is the one that PRODUCES some thing, even if it is Bovine Excrement (HA HA HA). If it were possible to get some of these types sitting on the boards of the financing institutions, particularly those that are underwritten by tax payers, there will be a difference in the approach to funding and the acceptance of risk.

    Right now the entrepreneur’s BIGGEST obstacle is the Lawyer with an MBA, that sits on any of these boards. These super conservative Jack Asses believe themselves and are believed to be steeped in the area of private initiative and are NOT prone to “variation” as such a term will NOT be part of their vocabulary.

  39. @ Hants
    That must be the reason Caswell is against having a bank locally owned by Credit Unions….
    He don’t want the trouble of having such huge profits in poor people’s hands… 🙂

  40. Entrepreneurs are those individuals that have certain skills that separate them from the rest of the work force. These skills range from people skills, profit making skills all the way to persistent skills. If you are not persistent you cannot be a successful entrepreneur.

  41. Another view from Branson:
    Big Idea 2013: This Year, the War on Drugs Ends

    Richard Branson
    December 11, 2012

    If a business strategy were failing and instead of curbing a problem made it worse, would you keep it going or would you stop and consider an alternative course?
    Strangely, the trillion dollar war on drugs has persisted for 40 years even though it is the most dismal global policy failure of our time. Why do I care and why should you?
    Millions of otherwise productive lives are wasted and lost in jail for marijuana possession and other nonviolent drug violations. California could raise an estimated US $1.4B in annual revenue if it taxed and regulated the sale of marijuana – so imagine the revenue that is keeping the underworld in business.
    I’m a member of the Global Commission on Drug Policy and we have been looking at this issue for the last two years. There are countries – such as Portugal, Germany, Switzerland, UK and Netherlands – that have adopted alternative strategies with promising results.
    I’d like the business community to help figure out what can be done for countries to take a hard look at the failures of the drug war and adopt humane solutions that focus on education and health care rather than criminalization and incarceration. Let’s make 2013 the year we Break The Taboo.

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