Our generation needs an ENTREPRENEURIAL REVOLUTION.
Much has been said that lack of money is the impediment for many start ups. Well to a large extent, that is true. But the real capital is not the not the financial capital. Capital after all comes from the word capito meaning the head. The head is the real capital. Intellectual capital that is.
Quoting from the book of Larry Farrell, The New Entrepreneurial Age, the following is the comparative study of start-ups vs other social costs:
. start up cost - $l4,000.00
year on welfare -25,000.00
year in Harvard -35,000.00
year in prison -45,000.00
It is twice as expensive to fund unemployment (a defensive move) than it is to support entrepreneurship or even more if the fund is lent to be paid back. On this basis, the Obama job bill costing $450 billion, which is mostly welfare bill, does not look very sound.
How about prosecuting and jailing crooks as a policy?
Historically, it does not cost much to fund winning business venture. A real estate venture we had started with Pl5,000.00; most of our big companies started with P312,500.00 paid up capital (Pl.25m subscribed capital stock and P5m authorized capital stock)
Splash started with Pl2,000.00, l/2 of the cash wedding gift received by Dr. Hortaleza and wife; Growers peanut started with P3,000.00 capital (as told by the entrepreneurs themselves in their entrep talk we had in class, similar to the November 8 event.)
In the US, the following are examples of the start up costs/capital of the ff: businesses:
Dell Computers - $1,000.00
Twitter - 0
Facebook - 0
You Tube - 0
Google - 0
E bay - 0
DHL - 0
Sony 1945 - l00.00
Matshusita l918 - 50.00
Nike 1964 - l,000.00
Apple Computer - 1,350.00
So you do not need millions to earn thousands; a little bit of money, plenty of hard work, imagination and heart on fire.
Much has been said that lack of money is the impediment for many start ups. Well to a large extent, that is true. But the real capital is not the not the financial capital. Capital after all comes from the word capito meaning the head. The head is the real capital. Intellectual capital that is.
Quoting from the book of Larry Farrell, The New Entrepreneurial Age, the following is the comparative study of start-ups vs other social costs:
. start up cost - $l4,000.00
year on welfare -25,000.00
year in Harvard -35,000.00
year in prison -45,000.00
It is twice as expensive to fund unemployment (a defensive move) than it is to support entrepreneurship or even more if the fund is lent to be paid back. On this basis, the Obama job bill costing $450 billion, which is mostly welfare bill, does not look very sound.
How about prosecuting and jailing crooks as a policy?
Historically, it does not cost much to fund winning business venture. A real estate venture we had started with Pl5,000.00; most of our big companies started with P312,500.00 paid up capital (Pl.25m subscribed capital stock and P5m authorized capital stock)
Splash started with Pl2,000.00, l/2 of the cash wedding gift received by Dr. Hortaleza and wife; Growers peanut started with P3,000.00 capital (as told by the entrepreneurs themselves in their entrep talk we had in class, similar to the November 8 event.)
In the US, the following are examples of the start up costs/capital of the ff: businesses:
Dell Computers - $1,000.00
Twitter - 0
Facebook - 0
You Tube - 0
Google - 0
E bay - 0
DHL - 0
Sony 1945 - l00.00
Matshusita l918 - 50.00
Nike 1964 - l,000.00
Apple Computer - 1,350.00
So you do not need millions to earn thousands; a little bit of money, plenty of hard work, imagination and heart on fire.
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