Public Sector's role to enhance the entrepreneurial ecosystem

The real challenge of the Government and Ministerial departments is to develop the entrepreneurial policy suitable and sustainable base on the current strength and economic trend. Also to avoid duplication or a borrow model from another ecosystem to try to create change via direct intervention.

To develop a set of general principle to support the enterprise development and the entrepreneurial ecosystem for youth have two approaches. First one is the ‘traditional’ approach that gives importance on building total number of businesses via start-up programs, grants financing, investment and technological support. These kinds of programmes are ‘transactional’. Even though it creates some kind of value but cannot guarantee success. It’s similar to you pick a few successful businesses as winners.

Today’s children are tomorrow’s leaders

Today is very rare to see the good leadership. We are always showing an example of historical leaders from books. Are we setting a good example of leadership for today’s youth? Not recently. We should actually be ashamed of ourselves for the despicable display of leadership that we are witnessing.

While leadership skills can come naturally, children learn lessons along the way that significantly impacts them later in life. The right words at the right time can make all the difference.

As Deon Price mentioned, if a person with poor leadership qualities is placed in a position of authority over a person, an organization or a nation, they will generate more harm than good. So what is leadership? In research for this column I found various definitions of leadership but here is the one that best defines this role.

Sri Lanka’s affected economy depends on tourism and now it could get worse.

Introduction of Tourism Industry: The immediate economic consequences of Sri Lanka’s brutal Easter Sunday terror attacks are obvious. The damage to tourism is the most apparent; investments decisions might be delayed. However, as a country that had withstood more than three decades of terror prior to May 2009 and an economy that had shown resilient growth averaging 5% per annum in that period, Sri Lanka is certainly not a novice in managing the expected economic fallout.

Sri Lanka has a growing tourism industry. Since gaining independence from the British in 1947, Sri Lanka has continued to attract foreign investors and tourists to the island. The country's important placement also enables it to attract transit visitors into the island.

Rural Unemployment in Sri Lanka.

Unemployment has been a serious economic and social problem among rural community in Sri Lanka which cause rapid growth of unemployment among rural youth presents critical social economic problem for the policy maker. Rural unemployment along with urban unemployment is termed as one among the serious problems in Sri Lanka, since it creates a ripple effect across the economy. Apart from the personal loss to individual and their family, it results in lower purchasing power (economically), consumption of goods and services will go down. These will lead to lower consumption of goods production. Lower production leads to lower contribution to revenue to country and it finally affect the economy of Sri Lanka.

Reasons of rural unemployment in Sri Lanka

Unemployment wasn’t widespread in rural areas, since most people were engaged in agriculture which helped them earn a living. Despite droughts, people continue to pursue agriculture. But with the advancement of technology through industrial civilization, textile mills and others sort of factories began to grow in Sri Lanka during British era. Though it led to mass migration of people to rural areas, drought like conditions and lack of income from agriculture created huge unemployment among rural youth.