Entrepreneurship is the backbone of every economy. The role of entrepreneurs in nation-building could not be undermined by the severity of COVID-19. Since December 2019, with china’s confirmation of the corona virus in Wuhan, entrepreneurs have been at the forefront of using their skills and creativity needed to anticipate needs and bring good new ideas to market to mitigate and provide contingencies to curb the spread of the disease.
Entrepreneurs who defy the odds to take on risks are more likely to become successful and are rewarded with profits, fame, and new levels of growth. Those who circumvent risks are likely to fail, suffer losses, and become less prevalent in the market.
A year ago, the demand for PPE’s, hand sanitizers, nose masks among other purported safeguards was not as high as it is now. Who would have thought that this could happen? Conversely, there is a rapid decline in demand for the labor force in sectors such as hospitality. UNDP predicted that close to half of the jobs in existence could be lost in Africa due to the impact of COVID-19. This also means more jobs need to be created and innovation must be encouraged. The question worth asking is: should the agents of socialization concentrate their efforts on converting talents into jobs or nurture talents even if it may no pay off early? Today’s hardship requires an innovative thought about prosperity.
In the Gambia, the Impact of Corona Virus (COVID-19) on the Economy, there is no reliable and credible data that suggest to address unemployment. There is clear indication that Youth Unemployment has become a national crisis.
The country may have tried to maintain the unemployment rate since 2017.
Even as the impact is high, the country Entrepreneurship and Youth Empowerment has researched to see if national unemployment has affected employment opportunities of politicians. We are yet to find one. If times are hard and companies are laying off workers, is it not rational to layoff unproductive government appointees? After all, big size government breeds tyranny, corruption, and hinders growth.
The outbreak of COVID-19 saw the increment of some goods and services. Most especially the products that were enablers of WHO’s protocols such as hand sanitizers and masks. Before the outbreak, a typical hand sanitizer ranged from D75 to D100. In the heat of the pandemic, prices rose steadily to D150 and D200. This was the basis for lamentation and a call by some citizens for the Government of Gambia to control the prices of these items.
So far, what we know is that governments have created poverty than wealth. It has been good at protecting itself through legislative powers than allowing the rule of law to enhance individual liberty. In all these, Gambians must be guided that popular opinion does not guarantee effectiveness and sustainability. Most often truth rests with the minority, COVID-19 is a good case study thus, question everything as far as you can.