Western entrepreneurship is a term that refers to the development of new businesses and products, by individuals or groups from Western countries. It can be defined as an enterprise in which entrepreneurs are able to apply their skills, knowledge and resources for profit.
This includes all forms of business including manufacturing, service industries (i.e., retail), agriculture etc. On the other hand, indigenous entrepreneurship is more about developing sustainable economics with respect to the environment and biodiversity ecosystems.
Example: Western vs Indigenous Entrepreneurship
Background
So I’m having trouble getting people who aren’t Aboriginal to understand the reciprocal nature of our business.
Problem
I launched my business and I wrote down that a portion of my sales would go back to communities I’ve worked in and still keep in touch with.
Strategy
We believe if it’s not giving back to the community then it’s not good business.
Result
The huge backlash from non-Aboriginal business advisers. They couldn’t understand why I would do that. It’s just something I’m struggling with at the moment