Challenging the myths of entrepreneurship

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The Global Entrepreneurship Week (GEW) is celebrated in November every year.

GEW showcases current entrepreneurs and innovators all over the world, making examples of them to encourage budding entrepreneurs.

Entrepreneurs are those who spot opportunities in the market that others may have missed or not considered before. Their enterprise contributes to business growth, the development of the economy and can operate to the wider benefit of communities everywhere. Given the right open and dynamic business environment - entrepreneurship can flourish.

However many people have mistaken ideas about entrepreneurship. Take the following examples:

Entrepreneurs are born

Entrepreneurial skills can be taught. All you need is to identify the gap in the market, have the initiative to start your own company and the determination to succeed.

'Ideators' is an annual reality TV program, based on a competition to demonstrate enterprise.

It is run by the British Council as part of the global annual National Entrepreneurship Week.

The aim of the program is to recognise and reward Graduate Entrepreneurship in Sri Lanka and the UK. Teams from Sri Lanka and the UK take part in 11 entrepreneurship challenges, to test every aspect of their business skills and cultural understanding.

British entrepreneur David Howath was one of the UK's participants in the 2010 show. His idea was to sell louvre blinds as an equally versatile alternative to curtains.

David is hoping to secure a worldwide patent and put his new business training to good use. The UK is a supportive incubator for new business ideas, small (like David's) or large.

Foreign investors will have no difficulty in finding profitable businesses in which to invest.

At the Sri Lanka Design Festival 2010 craft communities from across the island displayed the results of months of successful close collaboration with 13 top UK designers, as well as other European and USA design professionals.

The 'new' products on show were the outcome of the skills of Sri Lankan craftspeople coupled with the design perspective of foreign designers.

For example, traditional lacemaker, Kamala Uyanage of Anuja Lace worked with British designer Emily Barnard to produce unusual lace necklaces. This not only gave Kamala access to Emily's international experience but also insight into ways to further develop her craft.

In 2006, the Export Development Board of Sri Lanka launched a rolling program to help Sri Lankan giftware and craft entrepreneurs develop niche export markets.

The latest intake of SME crafts manufacturers and artisans are now part of a road-show that will travel all over the country to encourage and promote design innovation and new export market linkages.

Fit a stereotype?

Fathima Nisreen, a young wife and mother in Hambantota recently won the top prize for Youth Business International Entrepreneurship, beating competitors the world over.

Her prize included travel to Mexico, Europe and the UK, where she was presented to Prince Charles as an inspiring role model for women in her Sri Lankan community.

Fathima is an example of the fact that it is possible for women to be successful in business without losing their social, cultural or religious identity.

Her company, Ramsi Fashion, produces ladies' bags and clothes which appeal to a wide market, not only locally but in other countries too, such as the UK.

Only about profit?

In 2009, Sri Lanka's Dr Wijaya Godakumbura won first prize at the BBC World Challenge with his 'Safe Bottle Lamp' project. Dr Godakumbura, a surgeon who witnessed the results of accidents involving unsafe kerosene lamps in many parts of rural Sri Lanka, designed a lamp that cannot roll over and cause a fire.

The BBC World Challenge competition, organised annually by BBC World News Limited, promotes small businesses from all around the world that have shown enterprise and innovation at grass roots level.

With his simple, inexpensive but effective design, Dr Godakumbura saves thousands of Sri Lankans from terrible burns and injuries due to unstable oil lamps.

The BBC initiative celebrates entrepreneurship that makes a difference to communities all over the world.

Although the UK is primarily and successfully a knowledge based economy, it does not own the patent on good ideas and supports them wherever it finds them.

Sri Lankan entrepreneur Dayasiri Warnakulasooriya started an export company in 1968, with a capital of just Rs 50,000, on a small premises with a hand-pressed clay kiln and four employees. Today, his company, Midaya Ceramics, employs several hundred people on its own large factory premises in Maharagama - and records a multi-million rupee annual turnover.

Midaya ceramic finds it relatively easy to win contracts from prestigious and niche companies in the UK: an estimated 65 percent of all the high quality goods it produces are commissioned by designers and retailers in the UK.

Midaya's customers range from Marks & Spencer, John Lewis and home-ware designer, Susie Watson to top end outlets such as Harrods.

The underlying strength of the UK economy means that UK consumers will always be willing to pay a fair price for the best quality goods.