ORIGINS OF ENTREPRENEURSHIP

(ii) culture, tradition

Entrepreneurship has grown out of the culture of some families to grow a family business. Many
children emulate the ways of their parents either by working in the family business or starting an
entrepreneurial venture of their own. In the Caribbean there are a few such families: the Mahfoods,
Azans, Matalons and Sinclairs.

(iii) Poverty

The survival instinct usually kicks in when one realizes that they are not able to provide for themselves
or those dependent upon them. This usually forces persons to be innovative and creative in breaking the
back of poverty. From these situations usually arise great entrepreneurial concepts.

(iv) desire for wealth

There are those persons like Steve Jobs who know that true wealth cannot be attained by working for
others but rather by starting and operating ones own business. He started small and continued to evolve
his unique idea until he arrived at the Apple Brand as it now exists.

REGIONAL ENTREPRENEURS:

1. Audrey Marks,

2. Joan Duncan,

3. Aleem Mohammed,

4. Anthony Sabga,

5. Richard Branson,

6. Bill Gates,

7. Mark Zuckerberg,

8. Reno Gajadhar,

9. Jay Z,

10. Oprah Winfrey,

11. Steve Jobs,

12. Hubert and Helen Bhagwansingh,

13. James Husbands,

 14. Allen Chastanet,

15. Adrian Augier,

16. Ronald Ramjattan,

17. Edward Beharry,

18. Sir Charles Williams

19. Yesu Persaud

20. Chris Blackwell,

21. Marley Family,

22. Eddie Grant,

23. Arthur Lok Jack,

24. Thalia Lyn,

25. Vincent Hosang

BENEFITS OF ENTREPRENEURSHIP
1. Development of managerial capabilities:

 The biggest significance of entrepreneurship lies in the fact that it helps in identifying and
developing managerial capabilities in persons. An entrepreneur studies a problem, identifies its
alternatives, compares the alternatives in terms of cost and benefits implications, and finally
chooses the best alternative.

 This exercise helps in sharpening the decision making skills of an entrepreneur. Besides, these
managerial capabilities are used by entrepreneurs in creating new technologies and products in
place of older technologies and products resulting in higher performance.

2. Creation of organizations

 Entrepreneurship results in the creation of organizations when entrepreneurs assemble and

coordinate physical, human and financial resources and direct them towards achievement of
objectives through managerial skills.

3. Improving standards of living:

 By creating productive organizations, entrepreneurship helps in making a wide variety of goods

and services available to the society which results into higher standards of living for the people.
 Possession of luxury cars, computers, mobile phones, rapid growth of shopping malls, etc. are
pointers to the rising living standards of people, and all this is due to the efforts of
entrepreneurs.

4. Means of economic development

 Entrepreneurship involves creation and use of innovative ideas, maximization of output from
given resources, development of managerial skills, etc., and all these factors are so essential for
the economic development of a country