Pakistan as a developing nation faces a complex set of challenges that contribute to its relatively low level of economic development and high poverty rate. It is a nation characterised by high birth rate, declining death rate, smaller labour force than population size and having one of the lowest national per capita incomes in the world. As a result, most Pakistanis have: limited access to education, facing severe environmental challenges and experiencing political in-stability, which in turn leaves an impact on the entire population and their quality of life. The country is positioned at 6th place as the most populous country in the world with an astonishingly increasing poverty rate. There exists a significant income level disparity among the different segments of Pakistani population with many people living in or under poverty line. To deal with these challenges, there is a high priority need to enhance efforts at the grass root level to uplift the poorest and underprivileged social class via promoting educational and economic activities.
In an attempt to address these multifaceted, complex issues; in a way that can bring about a societal change, NUST Business School (NBS) has joined hands with internationally recognized organisations IBF (Belgium) & GIZ GmbH to create a vision that empowers and equips low-skilled labour in Pakistan. The aim is to empower them with skills and knowledge they need to acquire in order to start and grow successful businesses, to lift them out of poverty and contribute to the economic growth and development of their families and communities.
In so doing, an intensive Entrepreneurship Training Program at Kashir Asghar Innovation and Entrepreneurship Lab (KAIEL) – NBS has been implemented since February 2023 in order to help low-skilled individuals in Pakistan (primarily the returnees) start and grow successful businesses. Beneficiaries are taught practical business skills, such as marketing, finance, and operations, and are provided help in developing the Entrepreneurial mindset that is necessary for succeeding as a business owner.
The program is unique in that it encourages and empowers low-skilled individuals to think about how their businesses can create a positive social change in their communities. Moreover, in this program, we provide in-kind support and mentorship to help the trainees navigate the challenges of starting and running a business, and we foster a sense of community among them by creating opportunities for networking and collaboration.
Overall, our vision is to empower low-skilled individuals with the skills, knowledge, and support they need to succeed as entrepreneurs and contribute to the economic growth and development of their families and communities. We are passionate about creating a better future for all and believe that entrepreneurship is a powerful tool for change. In so doing, we believe we can make a real difference in the lives of those we serve.
To date, we have trained and empowered a total of 86 participants in this program from different cities who will be provided in-kind support in April 2023 so that they can utilise the business & management knowledge and skills they acquired during their training at NBS. The training content was aimed at providing an understanding of concepts like Entrepreneurship, Local labour market insights, Development of business ideas and strategies to assess business opportunities, Business plan development, Starting a business in Pakistan, Operating a business (enterprise- organisational management), Marketing, brand management and visibility, Costing, and financial management.
The objectives of the training were as follows: –
- To increase the understanding of Entrepreneurship among participants’ and its importance in setting up successful business units.
- To Support trainees in developing business plans, detailing the main features of the business idea covering but not limited to the following areas, i.e. financial planning, accounting, marketing, human resources, etc.
- To prepare the participants to enter the business world with an understanding of the local market, customer segments, networking, and financial planning.
- Introduce them to governmental support schemes for business start-ups for semi-skilled individuals, i.e., PM Youth Loan Scheme, SMEDA, and Akhuwat etc.
In the end, we assert that entrepreneurship is the most needed and powerful tool to battle poverty in Pakistan. With the right mindset, skills and support, low-skilled individuals can pursue entrepreneurship as a means to combat poverty and create a better future for themselves and their communities. In reality, there are many businesses that require low-skilled labor, such as cleaning services, landscaping, food trucks, and home-based businesses like tailoring or crafting etc. By focusing on businesses that require skills that the individuals already possess, low-skilled individuals can start a business and create employment opportunities for themselves and others.
Authors:
Dr. Owais Anwar Golra is an Assistant Professor at NUST Business School, National University of Sciences and Technology (NUST). He can be reached at owais.golra@nbs.nust.edu.pk.
Bibi Raheela is an MS research student at NUST Business School, National University of Sciences and Technology (NUST). She can be reached at raheela.msie21nbs@student.nust.edu.pk.
