Entrepreneurs Need More Than Just Capital


In a recent interview, Malik Fal, managing director of Endeavor South Africa, outlines some key challenges for South African entrepreneurs, as well as some suggested solutions (HT).

Most notable, I think, is his belief that access to capital is not the primary obstacle:



This week at Values & Capitalism, I build on his analysis, decrying our general human tendency to limit our economic problem-solving to the material factors.

An excerpt:

Fal argues that entrepreneurs in South Africa need things like more help from venture capital firms (e.g. IT and financial management support), and although I trust this is also true for American entrepreneurs…our broader society seems to be slipping in its grasp of the challenges and risks that are required for authentic flourishing.

This poses an issue for the real creators and producers, for when the rest of us lack patience and understanding in how value is actually created, we will tend to muddle the process by supporting the types of short-sighted, zero-risk pseudo-solutions our public is currently craving. Our society’s current inability to address its deficit crisis is another indication of this.

Malik Fal, PovertyCure, EndeavorWe need to focus on individual visions, objectives and implementations. We need to focus on the basic structures and institutions that empower individuals to succeed and stay accountable, stemming well beyond traditional commerce to include morality-instilling institutions like the church.

Entrepreneurs need much more than mere capital. Yet from observing our current cultural behavior and outlook, I’m not so sure we have much else on our minds.

Read the full post here.

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