5 ways entrepreneurs can become more psychologically resilient

World not spending enough to avert disasters as global calamities rise: UN

Nations are spending too little to prevent disasters in the face of rising global calamities from the floods in South Africa to a record-breaking heatwave in India.

Temperatures in the gritty New Delhi locality of Mungeshpur averaged 1.4° Celsius higher so far this month than in the suburban enclave of Safdarjung, IMD data shows. (Photo: Bloomberg)

Of the $133 billion in available disaster-related financing in 2010 to 2019, only 4% went to reducing risks with the rest being spent on more costly post-calamity responses, Mami Mizutori, head of the United Nations Office for Disaster Risk Reduction, said in an interview.

“This is the new landscape of disaster risk,” Mizutori said ahead of a global forum on disaster risk reduction in Bali. “We are living in a multi-hazard world with compounding effects, and we need to invest more in prevention.”

This lack of funding comes at a time when countries are having to contend with natural disasters and geopolitical conflicts after years of struggling with the pandemic…READ ON

5 ways entrepreneurs can become more psychologically resilient

Entrepreneurship is the backbone of any free-market economy. Globally, small and medium-sized businesses represent roughly 90 per cent of businesses and employ over 50 per cent of the workforce. They also contribute about 45 per cent to gross domestic product (GDP).

Being resilient might be a prerequisite for having an entrepreneurial mindset. 

Yet entrepreneurs face many obstacles that threaten their survival, including financial insecurity and market uncertainties. Unsurprisingly, roughly 50 per cent of new ventures fail within the first five years.

In this challenging landscape, entrepreneurs’ psychological resilience is a key personal resource and competitive advantage. But how can entrepreneurs develop resilience? And why does psychological resilience benefit entrepreneurs…READ ON

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