Create An Entrepreneurship Ecosystem and Thrive: How To-part 1

Tips for Creating an Entrepreneurial Ecosystem: Part 1

For the second quarter of 2025, CPR started the How to Survive the Impending Economic Recession series. Whether you are an aspiring business owner, business owner, or entrepreneur, this year's economic landscape paints a bleak picture for business owners from large organizations to startups. Business owners must be prepared to divert from traditional business strategies to thrive and not merely survive in the upcoming weeks, months, and years. This series assists you in formulating the right creative business strategies while building an entrepreneurial ecosystem that integrates effective leadership, culture, capital markets, communities, and customers in complex ways.

Today, we offer five ways to help build your Economic Ecosystem and thrive during an economic recession.

1: Shape the Ecosystem Around Local Conditions.

Leaders must adapt and be ready to offer local solutions for local conditions, whether geographic or cultural. Assuming an interventionist approach to the entrepreneurship ecosystem is key. These factors include spillover from building global connections, loyal customers, and cultivating a healthy workspace that ensures creativity is front and center.

2: Be Ready for Government to Engage with the Private Sector

The private sector, as entrepreneurs or business owners, has the motivation and perspective to develop self-sustaining, creative, and profit-driven markets. For this reason, entrepreneurs must seek opportunities where the government needs private sector services.

3: Adopt a David vs Goliath Mentality- Go For It.

In an era when microfinance for small-scale entrepreneurs has become mainstream, reallocating resources to support high-potential entrepreneurs may seem elitist and inequitable. However, many programs would focus on aggressive, growth ventures that address large potential markets during an economic recession when resources are limited.

To secure a piece of the pie, identify larger-scale ventures and partner with them. Promote the concept of subcontractors and showcase how your organization can assist them with low-hanging fruit while they aim for the higher ones.

4: Hone One's Leadership Style.

The key takeaway is to upskill during down times, whether in your business or the larger economy. During a recession, one might think of cutting spending; however, training is investing in the future.

5: Stimulate The Effect on an entrepreneurship ecosystem

—by igniting the imagination of the public and inspiring imitators. I call this effect the “law of small numbers.”

While the above quote remains anonymous, it speaks to action in numbers and divergent thinking. It is all about dreaming, thinking, and knowing what is possible. It's ok to dream still.

Don't miss part two of creating and thriving in an entrepreneurship ecosystem.