Entrepreneurship in emerging markets

In this issue of EMR we examine the issues and challenges faced by entrepreneurs who boldly engage emerging markets. To most people, the term 'emerging markets' connotes economically underdeveloped economies that have not achieved a level of maturity normally associated with leading economies around the globe. Indeed, these economies represent great business opportunities because of their strong growth potential combined with a confluence of business critical factors such as low labor costs, weak competition, low government regulation and many others. For the discerning entrepreneur, the term 'emerging markets' also spans new opportunities in developed economies, which are often driven by technological advancement, changes in government regulations or swings in societalmoods. The forces of change can spark new industries or breathe new life into old ones. Some examples of these include the emerging smart grid, additive manufacturing (3-D printing), and the many new uses being discovered for rare earth elements with advancements in nano-technology.