The most important trend for the future of entrepreneurship is that the connection between new business ideas and job-creation will become weaker. In the end, almost all successful businesses need to take on employees but we are entering an era when many will develop for several years before this becomes necessary.

These days, entrepreneurs are everywhere. From Silicon Valley to Sao Palo in Brazil, and from Boston to Bangalore, starting one’s own business is indeed the rage among the young and the restless.

Moreover, ever since the Great Recession of 2008, full-time jobs have become scarce and in addition, with the rise of temps and the Gig Economy (the term used to describe the freelancing and the part-time work model), most professionals are literally and figuratively “on their own”.

Apart from this, with the technological advances wrought about and brought about by the Mobile Computing and the Smartphone Revolution, Entrepreneurship is the de facto choice for anyone who wants to ride the crest of the “Fourth Industrial Revolution”.

Having said that, it is not always the case that Entrepreneurship is easy or rewarding without much hard work or even chance and pure grit.

Indeed, globally, only two to three out of ten new ventures stand a chance of success and even among them, only a few actually go on to become the market leaders.

Just like in the 1980s and 1990s, for every Bill Gates or Steve Jobs, there are hundreds and thousands of others who have “bitten the dust” and thus, in the 21st Century, for every Mark Zuckerberg, there are countless others who are either bankrupt financially or have abandoned their quest.

Last Updated on: Nov 26, 2024