When you ask most people what is it they want the most in life, a typical answer would be: happiness, success and freedom. Especially in the time of Thanksgiving, such as today! Not surprising at all, huh? But, if that is the case, how come we encounter so many people who feel completely opposite of this?

As kids, we go to school, learn many different things while growing up and at some point decide what we are going to do in life. That is when the problems start. The job market is suffering from the crisis. The employment policy is not functioning as it should. There are not enough jobs for young people. So, what can be done in order to stimulate young people to pursue their dreams and ambitions, while helping the country’s economy at the same time?

The answer seems to be very simple – entrepreneurship. Albert Einstein once said: “Logic will take you from point A to point B. Imagination will take you everywhere.” The concept of entrepreneurship is no groundbreaking news. It explains how the business world we know today was made. A very simple idea can change the world. Just remember the Gutenberg’s printing machine. Today, we have moved towards innovation as the driver of change and development. Still, having in mind the state of economy in Montenegro (the unemployment rate goes above 19%, while the youth unemployment rate reaches 42%), our country must focus on further stimulating young people to start their own businesses.

An entrepreneur is someone who develops a business model, acquires the human and other required resources, and is fully responsible for its success or failure. Yet, are young people in Montenegro ready to face the responsibility for their actions? It is surprising that so many of them prefer working in the public administration for a smaller wage, than going to the private sector for more money. During a recently held conference “Youth Employment – a Step Forward”, organized by the Ministry of Labor and Social Welfare, it was stated that 68% of students say they would prefer to work in public administration, opposite to 28% who think about starting their own business. Surprisingly or not, only 4% of students actually want to become entrepreneurs. What does this data tell us about the readiness and responsibility of young people in Montenegro to create their own future and happiness, for that matter? Of course, there are a lot of risks and uncertainties to be faced when starting a business, but that is certainly better than waiting for a job, if there is one.

The common disadvantages of being an entrepreneur are perceived as:

But all inherent risks and hardships are more than compensated by the following benefits:

So, to sum up, while it is true that we as a society are challenged in many ways, we have the potential, especially the young population, to drive change and economic prosperity. This can be achieved only by focusing on building the private sector. A country like Montenegro, which has undertaken a path of integration to the European Union, is in the process of developing its economy. The main challenge upon Montenegro is to become more competitive prior entering the EU. Accidentally or not, being in a country which is developing its economy, leaves a lot of market potential for small and medium size business, which should be run by the young and perspective entrepreneurs.