SMALL BUSINESSES/ENTREPRENEURSHIP

An entrepreneur is defined by Merriam-Webster Dictionary as “one who organizes, manages, and assumes the risks of a business or enterprise” and is defined by Cambridge Dictionary as “someone who makes money by starting their own business, especially when this involves seeing a new opportunity and taking risks.”

In today’s society becoming an entrepreneur requires that someone who has an idea be willing to develop the idea and take a leap of faith to embark on the journey to become a businessman/woman. Although it may not be an easy task to get started, it will be worthwhile as the business grows and blossoms into a successful venture.

In Anguilla, entrepreneurship and small businesses are on the rise and are essential to the sustainability of our economy. We note that the youth who are talented and innovative are becoming entrepreneurs and for that we congratulate them. Dedication, hard work, discipline and creativity are important qualities to develop an interest in a particular field or to develop a talent in a particular craft. Talents such as hairdressing, entertainment, or designing are some of the many fields that young individuals are carving their entrepreneurial paths to success.

Although some persons are given the impression that a loan is necessary to establish a business, this information is inaccurate and could not be further from the truth. Some businesses, such as those in the above-mentioned fields, are established by talented individuals on a small scale. For example, a braider, barber or hairdresser can begin doing hair at their home or go to person’s homes to do their hair, after a period of time once funds are accumulated from sales, the entrepreneur may expand to having a store or salon. By this time, they would have already built their clients and a reputable business. Banking establishments such as the local credit union, are available to assist young entrepreneurs if necessary.

Entrepreneurship is a wonderful thing and it is something that everyone should endeavor to be a part of in these challenging times. Believing in yourself, in your dreams and talents is the first start to success.