“A specter is haunting North America – the specter of complacency”.
Although tongue and cheek, the opening statement points to a very serious matter in this country, the tendency towards risk-aversion. It is going to be up to new entrepreneurs who are not afraid and motivated to put their ideas and money on the table. North America needs more entrepreneurs. For those entering the entrepreneurial world, many will be wildly successful, many will fail. Some will try again and again until they find their place in the world of successful ownership. The good news is that there are many more people that by nature are entrepreneurs and want to create opportunity.
As a result of downsizing, poor planning and a plethora of other factors we are all too aware of, North American business, which is one of the most technologically advanced in the world today, has suffered arguably more than any other countries in the world. The number of truly gifted professionals that are being unused in North American or that are taking permanent flight southward or other parts is, quite simply, a national embarrassment. There are still taxi drivers with PhD’s and Engineering graduate degrees driving.
This call to support entrepreneurism is a call to those who can help capable individuals left by the wayside, to rise from the rubble and lead North America to the forefront of international growth. We are looking for a ripple of productive economic activity. Every piece of the economic puzzle exists in North America; we have the know-how and the investment capital. What we lack is the gumption to take the bull by the horns and realize our opportunities. The economic pie is massive and if North American is to survive the next century, it will need to grab a significant piece.
Let us make one issue perfectly clear; our survival depends not on government intervention, but on the initiative and ingenuity of North Americans. Entrepreneurship is about creating wealth. It is about building and growing much more useful enterprises. New wealth and economic growth in the future will come from commercializing new technologies and growing our smaller and medium-sized companies into international competitors. To those individuals interested in exploiting opportunities, there are a multitude of them available. Sustainable societal wealth is not created by the accumulating, rearranging and manipulating wealth.
Experience shows us that real wealth that is those products, which are tradable and exportable means a great deal more to an economy that inflated real estate prices. The question must be asked as to what the current and established industry companies will do and are they going to promote the existence and success of such wealth creating enterprises in North America.
Although money knows no boundaries, economic peaks and troughs have significantly stronger currants on national economies. One of our super ordinate goals must be the preservation, as well as creation, of jobs and the increased ability to maintain development and commercialization of products in North American by North Americans.
An extra effort must be undertaken to explore the options of management buyouts, joint ventures, technology transfers, and most of all, start-ups.
Entire divisions are being cut from fat corporations no longer interested in mass production, leaving many attractive and more lucrative market niches upon which to capitalize. It is precisely these types of wealth creating ventures that drive the North American economy and its tax base.
Real estate flips do not create real wealth. We in the industry have been too preoccupied in the safe money game. There is a growing urgency that we get our hands dirty with the real crux of economic activities. We must help and support start-up ventures. Do not wait, get involved today.
By: Mark Borkowski is president of Toronto based Mercantile Mergers & Acquisitions Corporation. He can be contacted at (416) 368-8466 ext. 232 or www.mercantilemergersacquisitions.com