When I think about how we perceive the role of business in Albanian society, 2 personal stories from years ago always come to mind.
This is the first story.
Over 20 years ago, in an International Business class, an Albanian student from Macedonia (now North Macedonia) presented an analysis of a local company operating as a monopoly. He criticized the company for high prices, limited service coverage and profits flowing abroad, appealing to nationalistic sentiments.
The audience applauded his passionate stand. However, the professor offered a different perspective. He pointed out that the foreign company introduced new wireless technology, improving communication in remote areas and allowing families to stay connected. No local company had the ability or financial expertise to provide this service. This lesson taught us the value of looking beyond nationalism and recognizing the contributions of businesses.
While the second story is about the misunderstood microfinance
Recently, the microfinance industry faced a disinformation campaign due to some fraudulent lenders abusing their power. Working with the Association of Microfinance Institutions (AMA), I learned that the problem stemmed from ambiguity in defining financial institutions and implementing regulations.
Despite occasional abuses, the sector provides vital financial support to many citizens or even young entrepreneurs.
Microfinancing is essential for increasing citizens' consumption but also for small businesses, which make up 99.8% of active companies and employ over 80% of the workforce. Without this sector, many businesses would lack the necessary funds to start and grow. The positive impact of microfinance is far greater than isolated cases of misuse.
Of course, the impact of microfinance goes beyond agriculture and business, having a significant impact on the management of finances within the family: we remember that in 2023, there were more than 640 thousand family citizens who had requested the help of microfinance.
The conclusion? The mentality must be changed as soon as possible!
Historical stigmas and post-90s business models have shaped negative views of business. However, it is essential to change this mindset and support the development of all forms. Businesses drive the economy, create jobs and innovate. Instead of judging all businesses by the actions of a few, we should appreciate their overall contribution.
Imagine a world without businesses: no bakeries, coffee shops, internet services or financial institutions. This was a reality 30 years ago under a failed system. So, let's think twice before making a judgment call. Look beyond the headlines and consider different perspectives to make fair judgments about the role of business in our society.
