Every day, more than 1750 passionate Nepali youths with extraordinary ideas leave the nation for foreign employment. TIA sees off many energetic youngsters with hopes of finding a better quality of life. If this trend continues, skilled manpower shortage in our country will peak even higher. Therefore, we have to improvise the system of education in Nepal, encouraging students to be job creators, rather than seekers.
On their journey abroad, they typically invest about two hundred thousand and hope for a monthly return of anywhere between 15 to 20 thousand rupees. However, if you dare to invest about hundred thousand in Nepal, it’s possible to earn 30-35 thousand. Many youths are unaware of this. The lack of a supportive environment and business education has led to the downfall of the country’s economy.
Business education and its importance in Nepal
Business education is the process of teaching students the fundamental principles of business practices.
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With the emerging trend of enterprises, the importance of business education is yet to be realized in Nepal. Entrepreneurship is one of the most influential ways to stimulate our economic growth and flourish positive hope and self-esteem for our skilled youths. Entrepreneurship will only not be helpful to create opportunities, but it can also establish an inspirational environment for many youths to start their own enterprises. This will impact a sustainable economic growth of the country.
Challenges of business education
MBA, one of the most sought-after academic degrees, teaches students the basics of business administration and its fundamentals like marketing and finance. It helps graduates handle businesses on their own. However, as a student of MBA, what I have found is that the mindset of MBA is not well-structured.
For example, during the first semester of our studies, we were taught about the spirit and existence of entrepreneurship. However, during the last semester, we learned how to face an interview to get a job.
I feel that MBA should at least help us open our own firm. But it doesn’t teach us to sustain and tackle the problems skillfully. If businesses fail to earn sufficient profit, it won’t help the investors. Students should be taught to handle the circumstances with compassion and patience.
Current scenario
Youths who have innovative ideas and passion for their work are unable to instigate their businesses due to the lack of sufficient funds. Analyzing the present trend of Nepal, government authorities, families, and even private banks lend a huge amount of money only if they are going abroad. However, none of them are willing to invest in new startups.
Despite all these challenges, there are many opportunities available in Nepal for entrepreneurial development. Take the possibilities to post the 2015 earthquake for example. Dharahara fell. Do you continue feeling bad or you a build new one?
The answer, of course, lies within you. Nepal has still so much to acquire, thus there are many problems such as electricity, fuel, communication etc but remember that crisis is always an opportunity for entrepreneurs.
Sapkota is the CEO of Himalayan Social Journey.
