The Importance of Entrepreneurship

By Dr. Sinclair Grey III

Whoever dismisses entrepreneurship doesn’t understand its importance and significance to this economy. Let me bring this closer to home. Entrepreneurship is vital to the uplifting and empowering of your community. When companies are laying off workers because of one reason or another, people need to understand the importance of owning their own businesses. Without having control over one’s future, an individual will succumb to control of others.


Entrepreneurship, as I mentioned, is vital to the uplift of your community. For too long, we have allowed unethical businesses to come into our neighborhoods to poison us with products and services (e.g. liquor stores, pawnshops, and payday loan establishments) that cripple communities rather than build them up. In fact, the more support these businesses get, the less likely it is for people to move up. Why do I say this? Because these establishments are destructive and damaging.


We go to school and yet, we are not taught about the importance of owning a business. Too many of our youth aspire to be athletes or entertainers but fail to dream of becoming doctors, lawyers, business owners, and politicians, just to name a few professions. I want you to think about your upbringing for a moment. All of us heard these words – go to school, go work for someone, buy a house, get married, have children, and retire at age 65. Here’s the problem – that’s someone else’s dream. It’s not the dream which provides freedom nor is it a dream that creates a legacy – a legacy that we can leave for a children, grandchildren, and great-grandchildren.


Entrepreneurialism must be taught within every family and community. Not only must it be taught, it must be encouraged and supported.


No matter what business is started, we need to support one another. Through supporting each other’s businesses, we are creating employment opportunities for people who can’t find work. In addition to this, the more businesses we own that are successful, we will then control the politics of our community. You need to know this – the businesses in your community control the politics of the community.


Let me remind you that entrepreneurism is about networking and working with all people. That’s right; entrepreneurism isn’t just a local thing; it’s a global mindset. I want to challenge you to step out on faith and create a business. Don’t let others discourage you because you were placed on this earth to make a difference. Do it with and through entrepreneurialism.


Dr. Sinclair N. Grey III is a speaker, author, and success coach. Follow him on Twitter