Exportpreneurship simply means entrepreneurship for export. Exportpreneurship can be demarcated as the drill of entrepreneurship with an explicit concentration on world trade and export activities. It includes ascertaining universal marketplace, exporting models, and dynamically engaging in cross-border trade. Export enables entrepreneurship connecting customers globally. Exporting is a key trail to inclusive triumph for trades. It bids commerce to market segment, revenue variation, amplified lucrativeness, competitive advantages, better opportunities, branding, network extension, and strategic coalitions.
It is based on the knowledge and resources to pinpoint, generate and yield plus of opportunities prevailing in international or global markets. In recent years, it has been observed that the spirit of exportpreneurship has been grounded among Nepali farmers and younger generations from traditional to modern era. The youths seemingly preferring to go abroad for job and some have found option for exportpreneurship of different seasonal local products. This has emerged exportpreenurship business which is key to reshaping the business landscape bridging to diaspora fostering the culture of innovation for enterprise. This phenomenon has enticed both national and international exportpreneurs as it grips the underpinning of economic growth, employment opportunity and social transformation.
In Nepal, youths intend to unlock their potentials as they have quality of exportpreneurship capacity. However, they are facing challenges observing the business ecosystem. A limited number of startups have missed the opportunity in the country. How to nurture innovative ideas and ventures to fill the gap is a matter to review for all stakeholders in Nepal. Every unemployed can be engaged in local exportpreneurship prospect but the scenario of the country seem that there is dense impact of slowbalization worldwide. Several factors are the cause of exportpreneurship thought development. Business educated would like to present the goods and services very innovatively because of the development of information technology, internet as well as mobile connectivity, open access of resources and intention to introduce new avenues of business enterprise creation. The extensive espousal of smartphones, internet and customer network has encouraged young exportentrepreneurs to leverage digital platforms, grasp global markets, and craft social business models. The dynamic mindset and hopes of Nepali youths have also helped build an economic environment for participating in different fields of business.
In Nepal, youths’ ambition to migrate and settle abroad has mounted but they still look for an option for business returning home. Some prefer government jobs, others undertake the corporate world for lifelong success. They prefer economic freedom and follow up on their passions.
The scope of youth exportpreneurship is a motivating and very reformative evidence that could shape the social business landscape if the government facilitates them well. It is because they might have creative ideas, consistent determination, and an attitude for positive change which can have lasting impact on the Nepali economy as they remain to innovate, cooperate, and sophisticate business. Meanwhile, they also listen to stimulating success stories from seniors, experts, social entrepreneurs and learn about their knowledge and experiences and associated risks. Nepal has been a developing hub of traditional entrepreneurship to export different products.
There are various programs of the Government of Nepal to foster entrepreneurship in Nepal. Some government programs are youth centered aiming at managing regulation, tax system, incentives, funding, and inclusion as well as innovation culture. However, access to capital is lacking. The government of Nepal may increase venture capital, angel investment, venture capitalist and private equity firms selecting various products for their growth, monetary backing for innovation and development. Innovation centers, incubator centers, colleges and universities are creating a Nepali entrepreneurial ecosystem. These institutions deliver prospective entrepreneurs training, mentorship and financial support.
Both the government and private sector can run incubation centers to increase start up. Nepal has to develop more on e-commerce, financial technology, health technology, and education technology to utilize international market opportunities. The main concern is the settlement of both skilled and unskilled youth in the country. To address this issue, the country’s large pool of educated and tech-savvy manpower provides creative ideas, vitality and inclination to take risks. The readiness of talent across diverse domains fuels innovative ideas to ripe competitive advantage separating skills in different sectors. Majority of unemployed Nepali youths can be employed in productive sectors.
In Nepal, collaborative networks of different sectors–online and offline–promote knowledge-sharing, startup launching and co-working spaces. These networks nurture an environment where businesspersons can exchange ideas, opinions and resources. Nepal has greater prospects to entice international investors connecting global partners from which Nepal can earn its strength of global exportpreneur ecosystem.
Inspired by global business trends and acknowledging current realities, some schools, colleges, private firms, SMEs, individual youths and farmers had initiated marigold farming. Flower business in Tihar festival had become one sheer lifeline evidence of exportpreneurship in Nepal. The root cause was the festival of Diwali in the country. Nepali locals explored exportpreneurship in Hong Kong and Qatar markets. This shows migration sustains international business. Though some farmers and marigold sellers could not find space even in domestic and international markets, some wastage marigold was demanded for medical purposes. Thus, exportpreneurship could become a backbone of Nepal’s economic growth if government facilitate exportpreneurs by developing new policy framework. Nepal may observe remarkable transformation by entertaining business environment, formulating exportpreneurship friendly policies and exporpreneurial culture.
In conclusion, exportpreneurship enables Nepali youth to surmount international trade by leveraging export and entrepreneurship opportunities. Aspects such as skills, ideas, technology, information, government facilitation, and changing trends have knocked a favorable ecosystem but it has limitations. Exportpreneurship drives economic growth, and job creation, and enhances Nepal’s strength. Success evidence from ancient times to till date demonstrate export and entrepreneurship opportunities well. With right direction Nepali exportpreneurs can steer the worldwide market and take competitive advantage. Exportpreneurship empowers Nepali farmers and youths to embrace globalization. Let’s go for it.
(Rudra Prasad Ghimire, PhD is Assistant Professor of Kathmandu University, Nepal)