Business Diplomacy Today Podcast

Business Diplomacy Today addresses contemporary international relations and geopolitics, looking at the issues from a business perspective. It helps business leaders anticipate changing political and societal trends, build and leverage political networks and take a proactive stake in societal and political matters that influence their business environment.

Episode #018: Entrepreneurship in Fragile States

Jan Kratzer, Chaired Professor for Entrepreneurship and Innovation Management and Founder/Academic Director of Centre for Entrepreneurship (CfE) at Technische Universität Berlin, joins Matthias Catón in this episode. Jan shares his expertise on challenges for entrepreneurs in low-income countries, comparing them to high-income countries.

As their discussion explores the concept of entrepreneurship in fragile states, Matthias and Jan discuss theoretical definitions of fragile states and entrepreneurship. Jan explains how the latter has contrasting definitions globally; for example, micro-entrepreneurship is very common in African and Asian states, but the social-political-economic nexus in fragile states hinders the sustainability of an entrepreneurial business model.   

Despite the obstacles faced in fragile environments, such as low-tech industries, a lack of entrepreneurial support systems and legal regulations, Jan recognises the significance these young entrepreneurs have in growing economies through informal and smaller-scale entrepreneurship.  

Jan and Matthias further discuss the need for tailored educational programmes to train young entrepreneurs, the importance of reducing protectionist measures and how matured markets must give away their power to allow others to emerge and grow.  

As an increase in geopolitical risk calls for rethinking business strategies to maintain resilience, this episode is a must listen to gain a deeper insight into stimulating growth in fragile environments. As we become more and more conscious of our supply chains and responsible sourcing, this episode is a must-listen to gain valuable insights into the critical raw materials landscape and its impact on businesses.