The U.S. Embassy launched its 2017 Entrepreneurship Speaker Series with the visit of American entrepreneur Rhett Power, who delivered a presentation at Islamabad Chamber of Commerce and Industry on the theme of “Do’s and Don’ts of Starting a Business.”
Speaking at the occasion, Rhett Power said that 75 million young people around the world were without jobs and the best way to engage them in productive activities was to encourage them towards entrepreneurship. Providing tips about launching successful business startups, he identified good business plan, strong support network, good customer service, strong financial discipline and sticking to budget as key tools for growth of startups. He said startups with proper business plan were 30% more likely to succeed.
During the interactive session, Power shared lessons with the audience from his personal experience. He said that whether in the United States or Pakistan, entrepreneurs faced similar challenges in figuring out how to take an idea and turn it into a successful business. He said as the first speaker in the Entrepreneurship Speaker Series sponsored by the U.S. Embassy, he found Pakistani entrepreneurs talented, bright and energetic. He was of the view that Pakistan has a bright future for entrepreneurship.
Power is the co-founder of Wild Creations, a startup toy company that was named the 2010 Fastest Growing Business in South Carolina and from his experience be became an economic and small business development consultant.
Ms. Mary Harrington, Economic Officer of US Embassy said that US Embassy Entrepreneurship Speaker Series will sponsor additional programs to support Pakistani entrepreneurs focused on various topics including marketing, intellectual property rights and curriculum development.
In his welcome address, Khalid Malik, Senior Vice President, Islamabad Chamber of Commerce and Industry stressed that Pakistan and US should focus on developing strong linkages between their private sectors to further improve bilateral trade. He lauded the initiative of US Embassy for launching Entrepreneurship Speaker Series in Pakistan as it would attract youth towards business field and promote entrepreneurship culture in the country. He also thanked Rhett Power for coming all the way from USA to deliver presentations on Do’s and Don’t’s of Starting a Business. He hoped that such programs would encourage entrepreneurship in Pakistan and would also develop partnerships between Pak-US entrepreneurs leading to strong business linkages between the two countries. Tahir Ayub Vice President ICCI assured that ICCI would cooperate with US Embassy in its endeavors aimed at promoting entrepreneurship eco system in the country.