It's all about good and bad governance to entertain the crucial issue and sustain. Most of the governments depend on populism to grab their votes only through small subsidies even to MSMEs. We all know that there is the only option left to in MSMEs, thus to eradicate poverty through employment generation.
Entrepreneurs need to build appropriate capacities for their business success not subsidy. They need money to run the business is obvious, and therefore governments and donor agencies should intervene in the context of competitive small business environment in the area of operation. MSMEs have to know that their business assets first to work for. Most of the MSMEs round the globe underestimate the value of their vital asset the IP asset like business name, business idea, business model, strategic planning .and many more to design the business for compete in the current knowledge driven market economy.
The World Intellectual Property Organization (WIPO) in mid-November 2011 reported that the Global Intellectual Property (IP) market which is now worth $180 billion a year and the changing face of innovation, royalty and licensing fee revenue rose from $2.8 billion in 1970 to $27 billion in 1990, and became $180 billion in 2009. This is faster than the rise in global gross domestic product during a similar period. In fact, it is possible that two years hence the total revenue may touch the $200 billion mark.
The values of an asset whether it is intangible or tangible are the potential elements for economic benefits in competitive businesses; whether they are big or small. It is imperative to foster creation of innovative products, processes and services so that intellectual property (IP) assets give their holders confidence and cash, exchange new technologies through joint ventures and licensing agreements. The profits of every business today come from a mixture of tangible and intangible asset values.
Moreover, most of the entrepreneurs do not have any motivation to become a social entrepreneur serving for the development of the society. We should intend to intervene right on these scores to create a large contingent of social entrepreneurs and engage their workers, delivering innovative products/services ideas that enjoying the benefits of innovation and IP assets.
Private sector development should look like appropriate pro-poor human business model to be implemented by MSMEs not by the multinational companies where employment opportunity is limited.