Young entrepreneurs prioritize social impact over profit
As generations change, the way they do business, the goals of establishing a company, and the company’s management strategies are also affected by this change. A survey by Youth Business International (YBI) found that young people view entrepreneurship as a way to change the world, while the number of young entrepreneurs focused on solving social and environmental problems is twice that of entrepreneurs older than 35 years old. While 39% of entrepreneurs under 35 state that the primary purpose of their business is to find solutions to social and environmental problems, the percentage of entrepreneurs over 35 who support this approach remains at 18%. NBO Holding, founded by young entrepreneurs and moving its headquarters in the Netherlands and the United States to Turkey in recent months, also prioritizes the social and professional development of young people in Turkey.
Founder and Chairman of the Board of Directors of NBO Holding, Nazım Burak Olcay, shared his assessments on the topic, saying: “Today, global surveys indicate that young entrepreneurs prioritize creating social impact over profitability. As NBO Holding, we have in recent months, our headquarters, which has been in the US since 2018, moved to Turkey, based on the conviction that entrepreneurship is a powerful tool to transform the world.With our young and dynamic team, we are active in many sectors, from IT to finance , from textiles to automotive, from industry to tourism.”
TWO IN 5 YOUNG ENTREPRENEURS PUT SOCIAL WELLNESS AND DIVERSITY OVER PROFITABILITY
YBI’s research highlights data showing that 41% of young entrepreneurs focus on promoting diversity and social wellbeing, even at the cost of lower profitability. While this percentage drops to 25% among older business owners, one of the 2 young entrepreneurs follows strategies that appeal to the goal, such as choosing the right, ethical and good suppliers for society. Nazım Burak Olcay underlines that management strategies change according to the priorities of generations and shares his view on this topic with the following expressions: “The way to engage the talented Generation Z as employees in companies is to set a goal to tackle social and environmental challenges. Companies need to give hope to their employees and society in general.As NBO Holding, which started with hosting and mobile game development services and quickly started operating in sectors like blockchain, finance and automotive, we are building together with the young people who work with the hope that one day they will feel comfortable during their educational life. In addition, we attach great importance to living together with the people we have traveled with and to the sense of belonging. We aim to open an academy in the near future in Turkey. With this academy we want to enable young people to experience the business world and discover opportunities in Turkey while continuing their academic life.”
40 MILLION DOLLARS TARGET TO INVEST
Utku Alpagut, CEO of Dapprex, which operates under the umbrella of the Holding and focuses on Web 3.0 technologies, and CFO of NBO Holding, said: “Dapprex, which has moved its headquarters in the Netherlands to Turkey, provides infrastructure for various cryptocurrencies. and blockchain projects on Web 3.0 technologies and offers consultancy services.In addition to our projects such as Petaverse, Fatoshi, Buffdoge, Shih Tzu, we support many projects such as Pappay, which focuses on payment technologies in the crypto ecosystem, and Mind Music for the democratization of music. We are committed to designing the future from the perspective of crypto and blockchain. In that context, we want to invest $ 40 million in the next 2 years in the field of Web 3.0 in our country. Without abandoning the approach of NBO Holding that encourages young people to overcome challenges and discover opportunities, we are working on recruiting young people who want to work in the software field for our proj ects.”