Several young entrepreneurs were recognised for their business ideas at a competition this week.

The ideas ranged from using glass to make bricks, to using paper to make pencils.

The best ideas received financial prizes while the short-listed participants received recognition.

It is competitions such as these that will encourage and motivate those that choose the path of an entrepreneur.

Choosing to become an entrepreneur is not an easy decision. There are risks.

Once the business is off the ground, a high-level of passion and devotion is required. And still failure could occur.

But for those who persist, and learn from their failure, a greater level of success and satisfaction could result.

The advantage of having more opt to become entrepreneurs is obvious. Unemployment will go down and economic development will occur. Innovation and creativity is also boosted as entrepreneurs try to find the most efficient way to solve local problems.

Look at some of the most successful economies around the world. They are built on entrepreneurs. They are the bedrock of such economies.

Bhutan is heading in this direction.

We have a small group of entrepreneurs today. Some are struggling. Some are breaking even. But a start has been made and the number of people, especially youth, turning to self-employment is increasing.

We have to facilitate their ventures and speed up this momentum.

It is important that government red-tape does not dissuade entrepreneurs from succeeding.

We cannot have them mired in unnecessary bureaucratic procedures instead of devoting their full energy to their businesses.

The labour ministry, DHI, and the Loden Foundation, are some organisations that support entrepreneurship today in the form of trainings, mentorship and either low-interest or no-interest loans.

These organisations must be commended. They are creating and nurturing a culture of entrepreneurship.

But we can do more.

We can start by having our youth educated with an entrepreneurial mindset from the schools. Entrepreneurial skills like critical thinking, self-reliance, risk-bearing, and team work, among others, should receive equal importance besides academic lessons.

It is also important that successful entrepreneurs be roped in by organisations to provide mentorship  to start-ups, and in turn receive some benefits. Their success and stories will serve as role models for the next generation of entrepreneurs.

By having a strong entrepreneurship culture, Bhutan can achieve its goal of becoming self-reliant at an earlier date.