Best Place for Entrepreneurs Now
There is one country on earth where it looks best to be an entrepreneur: that country is China. They may have their issues with human rights (which is unfortunate), but at the moment, their entrepreneurs are liberated. From Fortune Newsletter:
..., government is helping drive that innovation [in China]. [...]
Chinese innovation has two big things going for it, said Zhou Wei, a former Kleiner Perkins partner who now runs his own VC firm in China. “The first is government, which wants to help startups. The second is 1.4 billion consumers, who want to try new things. Together, they create the world’s largest laboratory for learning.”
This is a very powerful testimony for the Chinese government. From Fortune Magazine to venture capitalists, everyone is saying the same thing: Chinese government is helping the startups. That is an unbelievable confession and testimony from different stakeholders. Certainly as I have noted, Nigeria needs to invest to understand China: it is doing many things right at the moment.
When you read of China, you begin to believe that governments can indeed change the destines of nations. Nigeria needs to learn, fast, as we need to unlock opportunities across our industrial sectors. China is providing the cases on how to do that. We need to learn and execute at scale.
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Most times we seem to erroneously believe that all government needs to do is to provide 'enabling environment' for businesses to thrive. No, it goes beyond providing enabling environment, government also needs to provide the funds, if it really wants the citizens to be bold in trying things out. You cannot expect your economy to grow just by relying on foreign investors, that's a false premise to begin with. China has demonstrated that government can actually do so much, all the talks about governments having no hand in business are beginning to fail. Everyone is looking at China, yet its government is involved in so many things the country does; time to demystify all the economic theories that only work on paper, and will never take Nigeria or Africa to anywhere beyond how things are at the moment.
