Sustainability - Entrepreneurs:

"A healthy economy is a growing economy. Economists have long been trying to understand the factors that drive economic growth and the answer was initially not as simple as one might expect. The factors of production – land, labour and capital were not sufficient an explanation for the divergent growth rates and health of different economies. It has become clear in recent times that a fourth factor – innovation, is key to the ultimate health and growth of an economy. And innovation is driven by entrepreneurship. It was the Harvard Professor Schumpeter, that brought clear understanding as to how progress is achieved through a process known as “creative destruction”, whereby entrepreneurs bring about innovation and new ideas, thereby making older in ways of doing things obsolete and in so doing driving progress and growth.

A recent study by the Monitor Group on promoting entrepreneurship in the 21st Century, called “Paths to Prosperity” identified the following additional economic benefits of entrepreneurship: entrepreneurship is the driver of job creation in an economy, it further ensures the sustainable economic competitiveness of an economy and finally entrepreneurship through driving innovation ultimately leads to productivity improvements.

But one should not forget the other areas of impact of entrepreneurship both socially and politically that ultimately protect and encourage economic health. Entrepreneurship promotes a society based on meritocracy which incentives individuals to be proactive in their advancement. This results in a society as a whole with valuable attitudes and skills. Finally entrepreneurship, by rewarding initiative rather than political connections and bringing a broader segment of the population in as active participants in the economy results in a greater level of political stability for the country."

The above quote is from Anthony Farr, CEO of Allan Gray Orbis. Anthony is passionate about the power of education and the upliftment of entrepreneurs. Anthony Farr completed his Bachelor of Business Science (Finance) at UCT before qualifying as a CA(SA) during articles at Deloitte in Cape Town and Luxembourg. After working for Standard Bank London for a number of years in their international corporate finance team, Anthony co-founded the Starfish Greathearts Foundation.