Help new ventures grow, the government can and should support new small businesses specially by marketing businesses from within the country than benefiting international chains. And encourage young entrepreneurs by giving them better opportunities at every step and most importantly make processes easier e.g by automating the smallest of things are still done manually in Pakistan and utilize a lot of extra money time and manpower and become a hindrance in the growth is new businesses,
The challenge for government policy is to develop policies that work, but avoid the temptation to try to effect change via direct intervention. There has been far too much “copy paste” syndrome in Pakistan and nothing has been done eradicate this practice.
A “growth oriented” approach is more relational in nature. This focuses on the entrepreneurial leadership of these growth firms. It seeks to understand their networks and how to foster the expansion of such networks at the local, national and international level.
Government ministers can play a critical role in fostering enterprise and innovation. Their role is to direct the government departments and agencies to focus on the problem and develop effective policies.
Overall this can be summarized into:
1. Make the formation of entrepreneurial activity a government priority – The formulation of effective policy for entrepreneurial ecosystems requires the active involvement of Government Ministers working with senior public servants who act as ‘institutional entrepreneurs’ to shape and empower policies and programs.
2. Ensure that government policy is broadly focused – Policy should be developed that is holistic and encompasses all components of the ecosystem rather than seeking to ‘cherry pick’ areas of special interest.
3.Allow for natural growth not top-down solutions – Build from existing industries that have formed naturally within the region or country rather than seeking to generate new industries from green field sites.
4.Ensure all industry sectors are considered not just high-tech – Encourage growth across all industry sectors including low, mid and high-tech firms.
5.Provide leadership but delegate responsibility and ownership – Adopt a ‘top-down’ and ‘bottom-up’ approach devolving responsibility to local and regional authorities.
6.Develop policy that addresses the needs of both the business and its management team – Recognise that small business policy is ‘transactional’ while entrepreneurship policy is ‘relational’ in nature.
Information Technology support development and better management of the resources. Currently usage of technology enhance the production in lively hood sector. NBI has taken great step to launch this program. Many Congratulations.
Make company formation process, NTN, STRN, registration with Chamber of Commerce a one day process, why it cant be? Take a conversation with government sector employees to 0 level because they are idiots, pessimistic, delibrately slow down the processes etc..
Abolish witholding tax- it doesnt make any sense that you are paying on what u have not earned yet.