Sidra Qasim and Waqas Ali have set up a business and a brand. Waqas found local artisans in Okara making hand-made leather shoes. He convinced them to sell their shoes online and proposed a brand name, Markhor (the national animal of Pakistan).

Today, Markhor shoes are being shipped to several parts of the world. Waqas has been delivering customised shoes at the doorsteps of customers as far as the United States.

Sidra, a family friend, has joined hands with him. They have learned that some of the most well-known luxury brands have been working with craftsmen in developing countries like Pakistan, India and Vietnam but rarely talk about them.

Sidra says it has been a tough journey. She says nobody initially took a young person seriously. “In other words, investors, vendors, customers and potential partners did not give him what he wanted.” Waqas needed a partner who could match his ambition and make up for his shortcomings. Once Sidra came on board, she, too, faced challenges that were no less daunting. Selling shoes online has not been easy.

Sidra and Waqas are perfect examples of entrepreneurs who thought out-of-the-box, turned their dreams into reality and made profits. Both took courses to learn about the digital word and its dynamics.

By definition, entrepreneurship is both the study of how new businesses are created and the actual process of starting a new business.

Entrepreneurs are crucial to the national economy as they create jobs. Given that more than 60 percent of the country’s population is below 25 year of age, job creation is very important.

Today, entrepreneurship is a popular college major, with a focus on studying new venture creation. Educational institutions like the Lahore University of Management Science (LUMS), the Institute of Business Administration (IBA) and the Quaid-i-Azam University have started degree courses in entrepreneurship.

Arshad Bajwa, a LUMS graduate, says the LUMS Centre for Entrepreneurship (LCE) aims to formalise the institution’s support for entrepreneurship. He says the LCE aims at building a comprehensive entrepreneurial ecosystem that will bring together everything and everyone required to realise the growth potential of Pakistani entrepreneurs.

He says through its National Incubation Centre (NIC), the LCE connects donors and investors with budding entrepreneurs so that they can give practical shape to their ideas. Besides, he says, the centre is also looking for seasoned entrepreneurs to join its Mentors’ Network and guide the affiliate startups.

The initiatives

Plan 9 and Plan 10, launched by the Punjab Information Technology Board (PITB) are relevant here. Under Plan 9, potential entrepreneurs were shortlisted from all over the country and provided space and necessary facilities to develop their ideas. Those who qualified were introduced to investors who could put up money to support the theme a team had developed. This type of investment is called angel funding. It helps market the idea, set up offices and meet other expenses required to establish a business.

Economist Dr Qais Aslam believes that entrepreneurs are basically risk-takers. Technically speaking, all small businesses fall in this category. “Even big businesses are entrepreneurs till the time they are listed on the stock exchange,” he adds. Aslam says small and medium enterprises are great examples of entrepreneurship because they are surviving in tough times and finding innovative ways to sustain themselves. “For example, if we look at the manufacturers along the Lahore-Gujranwala-Sialkot belt we find entrepreneurship in their roots. They are improvising their products and finding orders in the local as well as international markets.

He says the increase in petrol and gas prices, interest rate hikes, high sales tax, power tariff escalation, etc., have put businesses under severe burden which is discouraging for entrepreneurs. “It is therefore requested of the government to offer a special relief package for entrepreneurs so that they can work on their ideas. Many a time, government representatives have said that entrepreneurship is key to economic growth and job creation.”

A technology-based business plan does not always require huge funding for its implementation. Entrepreneurship training is being provided not just by leading universities; the Technical and Vocational Training Authority (TEVTA), Punjab, is also offering micro-entrepreneurship courses. It trains people in self-employment skills. The students are also connected to lending agencies offering soft loans.