Lahore Chamber of Commerce and Industry (LCCI) Senior Vice President Mian Tariq Misbah on Saturday said that innovation held the key to success for young entrepreneurs therefore they should have an eye on global patterns, while doing their businesses.
Mian Tariq Misbah was speaking at the inauguration ceremony of the two-day Youth Entrepreneurial Hub Exhibition organised by the students of various institutions including Punjab University (PU) and Lahore University of Management Sciences (LUMS) here at a local hotel. LCCI Executive Committee Member Muhammad Haroon also spoke on the occasion.
He said LCCI was doing the needful for the upcoming entrepreneurs through its Annual Business Plan Competition, urging the students to focus on their studies as the country was in dire need on innovative entrepreneurs. He said there was no dearth of resources in the country but only thing that had kept it behind in a number of economic sectors was the unawareness about the latest business techniques and methodologies.
The LCCI Senior Vice President said the Lahore Chamber would continue to patronise such exhibitions so that the industry, which was suffering because of lack of professionally skilled and competent people, could get tailor-made stuff. Those competitions also helped students to interact with premier bodies of the business community like LCCI. While citing his personal business experiences, the LCCI Senior Vice President said he had visited a number of countries in the world and almost everywhere the Pakistani were at the top positions because they were very hard working and foreigner loved to work with them. He said that risk was the name of the game as far as entrepreneurship was concerned but the ultimate winners who learned from their mistakes and adopt corrective measure without any loss of time. "And for this we have to enhance our education system where students are taught how to behave after a failure in start-up. We have 60 percent youth population in Pakistan if 25 percent or more become entrepreneurs; they can become the assets of Pakistan for creating job opportunities."
He said Pakistan had some of the best infrastructure, agriculture, and natural resources in South Asia. "In addition, there are a number of initiatives from government and donor agencies to boost the entrepreneurial culture." Speaking on the occasion, LCCI Executive Committee Member Muhammad Haroon urged the young entrepreneurs to focus on quality while dealing with their foreign buyers so that their product could win a good share in the global marketplace.
He said that new comers in the business should also try to establish their own brands instead of relying on existing brands. After the inaugural ceremony, the LCCI Senior Vice President along with his Executive Committee Member and the organisers took a round of around all the 70 stalls in the exhibition.
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