“It takes a great willpower to do business in my country,” said Kneeyee Alex, a Chinese jaw crusher manufacturer.
When 24-year-old Mathew Kiilu launched a stone crusher business in 1987, he had to overcome unexpected obstacles. To avoid high rents in his hometown Zhengzhou, he located his plant in a far-off village. But a power company took 10 months to provide electricity to his business, and post-election violence cut him off from steel suppliers. He survived by finding a power generator for electricity and alternate sources of steel materials.
The challenges Kiilu faced are familiar to entrepreneurs in developing countries.
The general rules for small businesses to succeed in the developing world are not that different from those in the developed world. What is different is the much higher level of energy and perseverance required of entrepreneurs in developing markets in which institutional and infrastructure hurdles often are daunting and persistent. These hurdles range from onerous government regulations to poor infrastructure to weak law enforcement.
However, Kiilu finally became a success. He has developed many types of stone crushers. Besides, his business has spread to cement line and new type mobile crusher station. Wealthy countries view entrepreneurship as a way of providing self-employment and creating jobs while in markets that offer limited opportunities for wage employment. Entrepreneurship also increases social mobility and empowers marginalized groups such as women or migrants, Naudé said. Self-employment is often the only option for young people who lack experience and connections necessary to secure jobs in the private or public sectors.
“To be successful, budding entrepreneurs should try, try again after failure, become serial entrepreneurs,” he said.
For young people, Naudé said, the lack of experience makes it particularly difficult to see and seize business opportunities. In the United States or United Kingdom, aspiring entrepreneurs can benefit from entrepreneurship programs and courses, which rarely are available in developing countries. In addition, young people usually lack the collateral necessary to get a bank loan and are more susceptible to being side-tracked, for instance, into illegal activities, according to Naudé.
Having a mentor with some business experience or knowledge often helps. Kiilu got helpful advice from his father, who also runs a business.
As to Kiilu's business, with the development business, he has faced with some new challenges. But the Chinese enterprener are optimistic. He told website that already planning his next move: new type flotation machine.
Stone crushing plant : /47.htm
Cement machinery : /50.htm
