1. Creating a million jobs in a year!
"Hi
to all. I can't help to just be passive in this discussion. Creating 1
million jobs in one year. In fact we have to look at a great deal of
factors when thinking
about creating jobs in a given ecosystem. But one very important thing
stands out, concerning job creation, and this is, the job must be
sustainable and able to last for decades, and salable so it can recruit
many others. The best way to create jobs and to harness the
combined power
of all the creative minds in the environment and help facilitate their
transition so each one of them can exploit the full potential and dreams
in them. This has a very mighty multiplier effect in that a small group
of people will certainly have a very narrow perspective of what can be
done in that light no matter their good will. So throw it out to the
general public. I mean general public then we do a thorough selection
of the most viable one and put in the necessary expertise to help bring
them to the point where they are sustainable and can last for at least
50 years and will be recruiting many people. So conditions are very
necessarily for this among which are 1. Tax exoneration for quite some
time until the business breaks even, this will require putting in place
a transparent computerized system that automatically verifies this
break even point so taxation kicks in. 2. Salaries levels should be good
enough to stimulate consumption, what is the use of producing when
the population cannot consume? 3.taxes should be reduced, in Cameroon
🇨🇲 for instance a business pays as much as 43% of its income in taxes
(33%on income tax, 10%to the council) direct consequences of such
stifling tax system is that very small number
of businesses make it with such high taxes especially in their first
years when they are still in troubled waters so they wither and die
off. And the list goes on. I can write
a whole encyclopedia on this but time. For user
to succeed with such a dream
we really must mean it. We must want to get there. We must be
looking at the plight of our youth and feel compassion for them. And
let that compassion drive us to the realization that they need to be
comfortable for us to be comfortable.....
Forwaded to Edev News whatsApp Forum by Dr. Nick Ngwanyam
This
debate about creating new jobs is very interesting and engaging. In the
end, we need to look at the bigger picture. It has been proven that a
sound financial system is indispensable for the sustainable growth of any
economy. A good financial system directs scarce capital to the most
productive uses. Our financial system is largely dominated by commercial
banks and microfinance institutions that can only finance in the short
term thereby of exacerbating the lack of access
to
seed capital for entrepreneurs. These financial institutions are
sitting on huge deposits while the real economy is starving. We need
radical reforms that will open up our financial system to new
institutions that will have apetite for the kind of risk our young
entrepreneurs are willing to sell to them. The lesson i learnt from the
MIDA scam is that Cameroonians are able to raise the necessary capital
to fund our projects and ideas. We just need the right reforms and the
right people
Posted by Dr. Nick Ngwanyam on Edev News WhatsApp platform
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