Assessing the entrepreneurial ecosystem in Pakistan: A review to finance, education, and human capital for entrepreneurs

Abstract

Within this review study, the article summarizes the most recent developments in the entrepreneurial ecosystem in Pakistan, with particular emphasis on the impediments and amendments experienced by entrepreneurs. The authors proceed to stress the importance of the dynamism of the configuration of actors, resources, and institutions stimulating the very creation, development, and sustainability of new ventures. Despite entrepreneurship being increasingly recognized for its role in economic development, certain barriers remain: an environment of weak educational infrastructure, limited access to finance, and cultural barriers to participation, particularly among women. Thus, the paper summarizes the literature reviewing some of the key components underlying vibrant entrepreneurial ecosystem policies, finance, and human capital development versus some cultural attitudes while comparing to the success stories in the United States, Europe, and Asia. Implying government initiatives to stimulate entrepreneurship through women and youth, the paper goes ahead to examine their effectiveness in dealing with existing barriers. It also identifies a number of critical gaps in understanding the entrepreneurial landscape and indicates topics for future research: namely, the impact of digital transformation, specific needs of various entrepreneurial populations, and the role of social networks in promoting entrepreneurship. In future, the investigation would hope to provide the government and stakeholders with practical recommendations on building an inclusive and sustainable entrepreneurial ecosystem in Pakistan. In supposition, this review is a starting point for understanding entrepreneurship complexities in Pakistan and suggests workable strategies for spurring economic growth and innovation through improved support for entrepreneurs.