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Entrepreneurship the key to building developing economies

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Entrepreneurs can change an economy, something QNet knows well. The global company is a leader in the Asian direct selling industry and has seen it happen in every corner of the world.

Creating a climate that supports entrepreneurs and shows a path to success is vital. QNet has built their company culture on promoting entrepreneurship and supporting local charities.

According to Reuben Abraham, in a piece for CNN, entrepreneurship is the key to escaping poverty. It’s a fascinating look at how whole countries, like South Korea, have drastically increased per-capita income. Some governments have embraced entrepreneurship more than others. The stats, in Abraham’s piece, support the conclusion that entrepreneurship is the key. QNet agrees and has shared their benefits of entrepreneurship in developing countries.

QNet’s three key economic benefits of entrepreneurship

Job creation

Unemployment is a common and chronic problem in developing countries. Promoting small business, through entrepreneurship is seen as vital for employment generation. These ventures create jobs for more than a single entrepreneur. Creating jobs is key in the economic development of a nation. The United States, Japan, and the UK have all benefited greatly from promoting job creation through small business development.

Economic development

Small enterprises use local resources and are easy to start. This spreads economic development to rural and semi-urban areas. Balanced regional development is promoted by creating opportunities for business to grow from anywhere. Supporting entrepreneurship makes this possible. Additional employment in these areas means more taxpayer money and more public benefits in health, transportation, and education.

Innovation

It is often believed that smaller firms and entrepreneurs must innovate more to succeed. Entrepreneurs have fewer constraints than large companies. This necessity and ability to innovate leads to products and services that can raise an entire economy.

Job creation, economic development, innovation, and an increased standard of living are goals every nation has. Due to political and other reasons, not every nation embraces entrepreneurship. Still, progress is being made. Reuben Abraham shed a light on the benefits and issues surrounding entrepreneurship. QNet is putting this in to practice, helping developing countries.

QNet Managing Director JR Mayer says, “Through direct selling, we are able to provide business skills, training and, most important, jobs to developing parts of the world where they (jobs) can be scarce.”

People without a business background are given opportunities.

This investment in developing countries is paying off for QNet as well. Ranked in the top 30 worldwide among direct selling companies, sales have increased 70% in the last five years.

Mayer adds, “QNet is committed to promote and support small and medium entrepreneurs’ products, who otherwise have no other way to distribute and market their products.”

Located in 25 countries, with independent representatives (IRs) in 100 countries QNet is creating opportunities worldwide. Jack Nadel, in a Huffington Post article, made the connection that entrepreneurs are vital for a thriving middle class.

QNet is creating entrepreneurs and paths to success for them. Deni Hartoyo, a 32-year-old from Indonesia, is one of QNet’s many success stories. After eight years of hard work he lifted he and his family out of poverty. Indonesia, where QNet has been promoting entrepreneurs, is becoming a rising economic power. By 2030, analysts project it could be the 7th largest economy in the world.

QNet, focused on empowering worldwide communities, aims to be a top 10 direct selling company worldwide by 2018.

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