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Entrepreneurship

Invisible Economics and the Chain of Consequences

In his book, “The Fortune at the Bottom of the Pyramid,” C. K. Prahalad asserted: “Private Sector could have the greatest impact through creating profitable businesses serving the 5 billion people who represent the “invisible, unserved market.”

The worst thing that could happen to a people is not rejection or death; it is to be INVISIBLE, to be unnoticed. People aren’t just markets. They have dignity, choices, fears and needs that must be served. Sometimes, people are not really invisible; the onlookers are just blind. A society with few entrepreneurs is one with many blind citizens. Blind citizens cannot identify and explore resources, potentials and abundance hence, they perpetuate poverty.

Poverty is the testament that the dignity of a person has been threatened and his needs have been disregarded by self and others. It is the certificate of servitude issued by naïve societies and accepted by clueless citizens who have learned, accepted and endorsed self-helplessness. Poverty is the limit on alternatives. Abundance is the limit breaker. Abundance increases the quality of life; the quality of life improves with access; access is the inclusion of the excluded.

There are deep-seated motives that pass the test of reason and justify the need for entrepreneurship, enterprise, innovation and commerce. They, by far, outweigh the obvious need for survival and exchange. Citizens must organise, learn and self-educate to spot, earn and satisfy their dignity if ever they will disembark from the voyage of despondency. People of all races, cultures and tribes are beings of needs – needs craving attention. Entrepreneurs must be enabled to arise and arise to these cravings.

The Private Sector can institutionalize an enabling environment and push for equal opportunities thereby supplementing the deficiency of bad governance. The Private Sector can democratize access to ease, wealth and bliss. In an organised mode, the Private Sector can guarantee access to credit and uphold the currency of the Nation. This is required to engage the invisible economy and undo its chain of consequences.

LEAD Resources is an ecosystem enabler. We work to support the seamless catalysis of entrepreneurs and innovators. With fit-for-purpose capacity-building programmes such as our Business Enterprise Training and Digital Economy Emerging Managers’ programme, we contribute our quota to end poverty. To learn more about these programmes, contact us here.

AUTHOR

Elkanah Oluyori is a Digital Economy and Innovation Evangelist who is passionate about nation-building and community organizing. He has authored several relevant publications to this effect. Currently, Elkanah is an Associate Solutions Architect at Lead Resources, where he delivers Management and Development Consultancy to citizens, enterprises and the government. Owing to his vast experience in working with local and international development agencies, he leads Strategic Partnership at Reformers of Africa and coordinates West African Network on Peacebuilding (WANEP), FCT.

You may reach him via the following links: