Albuquerque ― Economic development is a critical topic for a vast number of communities across the United States. Although there are significant indictors of the nation’s resiliency towards economic oscillation from 2008, employment remains to challenge the upward mobility for many individuals. This is evident in the potent job competitiveness and stagnant job creation in various parts of the country. Some of my economic research has suggested a solution to address economic development stimulation via employment barriers: Entrepreneurship.
My research focuses on the how individuals develop professional, academic and personal skill-sets that can be valued and capitalized for self-support and job creation. Early economic philosophers believed that these three values — professional, academic and personal skill-sets — are essential towards society and the experience one can bring to improve the quality of life through “cultural exchange”. This concept has lead to unique cultural markets where people take these values and tie it to entrepreneurship to exchange culture such as the concept of the Annual International Folk Alliance Market. This is an exchange of an international community of entrepreneurs trading cultural poetics and capitalizing on their culture.
This concept can create jobs in America. The values that some people have are revolutionary and may not be visible when applying them to a saturated job market and monotonous work environments. Additionally, some people live in communities where jobs are scarce, creating competitive platforms for income.
Entrepreneurship allows the specialty of individuals to culturally express themselves through exchanging goods or providing services for economic support. For example, a common skill of millennials is social media navigation. To capitalize on this concept, social media is valued as marketing and communications in the job market. Soliciting with this skill where the demand is not met essentially creates a job by taking this everyday skill and applying it into a service for employment.
This year, I decided to act upon the values and skill-sets that I have acquired in the workforce and in community service. As a scholar of economics and international studies, I launched my own economic development firm, Watson & Associates International, LLC. Here, I apply skills of academia, prior work and personal experiences to help the community with international economic development and governmental relations. Currently, Watson & Associates International is working with international business exchanges to foster international direct foreign investments between New Mexico and the country of Israel (read more here).
Consider the experiences of your life and what skills you have that can be valued and capitalized for entrepreneurship. This concept has the ability to create jobs, allow individual expression through, and encourage economic security.
For the next few months, I will be traveling to share my experience of starting a business and encouraging the rise of young entrepreneurs as a vehicle to stimulate economic recovery and growth.