Youth Entrepreneurship is an amalgamation of attitude, character, behaviour, passion, natural orientation towards entrepreneurship and leadership sharpened by training and building awareness and skills necessary to become entrepreneurs.

A good leader alone may not make a good entrepreneur and a good entrepreneur need not necessarily be a savvy leader. It takes a lot more to become a Youth Entrepreneur.

Entrepreneurship as an attitude can be nurtured and developed in the youth at early formative stages. Integrating Entrepreneurship development as a part of the high school curriculum and expanding the same stream into college and university levels helps to give impetus to the budding entrepreneurial minds and allow them to give shape to their ideas and dreams. Sustained educational and awareness building programs combined with training in business skills helps develop a culture that promote enterprise.

Canadian Government’s effort at building Youth Entrepreneurial ship and the ‘Youth Entrepreneurship challenge, Quebec’s – A three Year Action Plan’ is a benchmark in the area of building Youth Entrepreneurship through education.

Starting in 2003, the Government has invested over 20$million to building Entrepreneurial culture amongst the youth. As per the plan the committee works extensively with the education sector including Primary, Secondary as well as University levels and other student and teacher communities to integrate a holistic approach towards introducing Entrepreneurial education as a part of the curriculum. They have also conducted extensive training sessions covering educators and counsellors to include entrepreneurship development agenda in their teaching and syllabus.

As a part of the initiative, various initiatives including conducting awareness campaigns and trainings at family and community levels, introducing entrepreneurial awareness and initiatives at all industry and official platforms have been undertaken thereby creating a buzz around Youth Entrepreneurial development.

The efforts have not been limited to building awareness and training teachers but the organisation has also established several initiatives to support the young entrepreneurs and help incubate their projects. They have also introduced the concept of mentoring and training the Youth entrepreneurs by providing them with business management skills. The most effective action has been to support micro-credit projects promoted by Youth Entrepreneurs.

Recognising the importance of introducing Enterprise education amongst the youth, countries like US, Canada and Australia have already inculcated Business Management studies as a part of the normal curriculum in the education system and have also established specialised higher education courses that help create well informed, well trained and wise entrepreneurs who are able to take the lead in creating and establishing new ventures and growing them into organisations that create and provide more jobs in the market.

Globally education system is still not equipped to inculcate Enterprise education as a part of its normal syllabus. The reasons could be very many ranging from lack of interest from students and their parents, lack of adequate material and infrastructure for training, absence of qualified and suitable teaching faculty and many more reasons.

However in the field of higher education we see the education in the Universities being integrated with industry where in Corporate provide required support and participate with students in their projects and studies.

Quoting Henry Ford – “A country’s competitiveness starts not on the factory floor or in the engineering lab. It starts in the classroom.”

Building Youth Entrepreneurship through Education

Creating and building a Youth Entrepreneurial culture in the society calls for two pronged strategy. The first and foremost platform for building the awareness and initiating the Youth into the concept of Youth Entrepreneurship is by investing into Entrepreneurship Education. This involves creating and including Entrepreneurial and Management studies at all levels of education. The action plan in this section includes building the content and syllabus and making it available to the teaching communities, training the teachers and counsellors to become Entrepreneurial educators and providing them with the infrastructure and facilities required.

One of the most significant aspects of Enterprise education is to involve industry and business organisations into the Youth Entrepreneurship programs at College level so as to provide an opportunity for the Youth to get hands on experience and increase their awareness of the business and economic environment.

Promoting Youth Entrepreneurship Culture using Media & PR

Apart from introducing Enterprise education, the Youth Entrepreneurship strategy has got to address the issue of building Entrepreneurship awareness and culture amongst the youth. Creating an Entrepreneurial spirit amongst the youth can be done with the help of media and communication.

Holding awareness programs, Orientation camps, group discussions, specific campaigns, promoting Youth Entrepreneurship events at all possible platforms as well as instituting young achievers awards and competitions are some of the effective ways of building the Youth Entrepreneurship Culture.

Youth meets, Seminars, Conferences, Festivals, fairs as well as using print media in the form of brochures, banners, coverage in magazines and interviewing successful entrepreneurs and young starters in the media and many more such PR exercises are sure to build the awareness and enthusiasm amongst the youth as well as change the perception of Entrepreneurship in the family, society as well as at the individual level.

There are also available several business case based simulation games and competitions that invite Youth to participate in creating Business plans etc. These are of course relevant to nurturing the Youth entrepreneurs who are already interested and set on starting their own enterprise and are pursuing business management education to equip themselves.

Successful Entrepreneur Role Models – The Best Youth Entrepreneurship Ambassadors

Theory has it that a significant part of learning in an individual happens through role models. It is a fact that every youth or individual grows up having one or more role models who they try to emulate in all respects.

Quite a few values, thinking patterns, attitudes etc are imbibed by the individuals based on their role model’s personality and character. Therefore engaging successful youth and adult entrepreneurs as Youth Entrepreneurship ambassadors would be one of the best strategies to motivate and build Youth Entrepreneurship culture amongst the youth.

When a Young Entrepreneur receives a reward, his success story gets to be known to everyone. Seeing someone taking up entrepreneurship and going on to become a successful entrepreneur does make other aspirants more confident of trying his or her hand at starting on their own.

Success always prompts people to take risks and help the families and society accept the idea of encouraging the youth to take up entrepreneurial ventures.

Engaging the industry and the successful business entrepreneurs in addressing the youth, promoting Youth Entrepreneurship, interacting with Youth at schools, colleges as well as all other platforms can affectively and collectively build an environment that is conducive to growth and development through Youth Entrepreneurship.

Entrepreneurship is by definition risky and an entrepreneur is one who takes risk with either his or her money or money raised from financial institutions and venture capitalists. Hence, entrepreneurs must keep in mind the fact that they need to be cautious and prudent about their ventures as failure means that they must take the responsibility and unlike employees, who can find other jobs, the entrepreneurs have to live with bad credit history which in turn leads to lack of financing from institutions. Of course, all this is when the entrepreneur starts his or her business and before that, the task of raising capital is by itself such a huge task that many potential entrepreneurs fail at this step itself.

The key to raising capital from venture capitalists and angel investors is by having a compelling and innovative idea and by having a well thought out business plan. More often than not, potential entrepreneurs think that they have a great idea without doing their homework, which a seasoned venture capitalist would immediately shoot down. Further, many entrepreneurs do not develop well thought out business plans that do not take into account all aspects of running the business including revenue projections, break even timelines, the market potential, and more importantly the cash flows that are so integral to keeping the business afloat.

Some Tips for Aspiring Entrepreneurs

To take each of these aspects in turn, we find that having a realistic projection of future revenues is very important as it gives a basis to the proposal from the entrepreneur.

In other words, unless there is a clearly defined roadmap to the breakeven point and the projection of revenues that is practical and based on solid market statistics and consumer behavior, the business plan would not be feasible. After all which financial institution or bank or venture capitalist would put their money into a venture that does not have a plan for returns and profits that is not based on airy fairy dreams but on data. Apart from this, the entrepreneur has to manage the working capital requirements in an astute and financially savvy manner.

Research has shown that most ventures fail because a year or two into the business, they face liquidity crunches and are unable to meet the working capital requirements needed to keep their venture afloat. Managing and projecting cash flows are two different things and while one can project huge cash flows, managing the actual receivables and honoring the payables are entirely different aspects. One should not be forced to windup one’s business because the payables are more than the receivables by too high a margin. Alternatively, the payables are coming due and the receivables are getting piled up without any hope for collection.

Some Dilemmas Faced by Entrepreneurs

The other aspect about entrepreneurship is the staffing factor. The dilemma of choosing staff and employees whose loyalty to the entrepreneur and commitment to the venture versus hiring staff who are high fliers but who might overrule the entrepreneurs is a key aspect. Of course, this does not mean that the venture must be staffed only by yes men or those who cannot find employment anywhere else. Rather, the point here is that the question of whom the entrepreneur trusts is paramount and hence, the staffing must be done after doing due diligence.

Further, bringing in outside talent as opposed to appointing family members and friends to key positions is another aspect that needs careful deliberation and conscious application of one’s mind to the hiring of staff.

Closing Thoughts

Finally, entrepreneurs must be on the lookout for corporate predators who once they realize that the venture is doing great, might invest substantial money into taking over the venture. This has happened in practice across the world and the strategy of the entrepreneurs in this case was to hold the majority stake in the venture and keep management control and retain shareholding patterns tightly and closely.

While recognising the need and the potential of Youth Entrepreneurship world over, ILO and other Agencies have begun to focus on establishing programs to help create, nurture and support Youth Entrepreneurship world over. The effort to encourage the YE culture has got to be done by the countries themselves.

In trying to address the YE program, several studies have been conducted to identify the areas where YE needs to be supported, identify the barriers to YE in the societies and to develop implementation strategies to help build Youth Entrepreneurship.

For a Youth Entrepreneur, starting an own business can be quite an overwhelming exercise. Though he or she might have a good business idea or identified opportunity, the lack of experience and exposure to business world can level them running around the pillar trying to set up a business organisation and get going. The challenges of starting a business are many. When an individual is starting an enterprise, he has got to handle all matters of organisation including administration, accounting, taxation, production, purchase, marketing and all jobs by himself. Having no previous experience, he has got to learn the ropes of the business and find out how things work. At this stage one needs help in the form of business support, mentoring and supporting network that can help him get going and learn the ropes faster too.

Apart from the other areas like finance, marketing, regulatory requirements and registration etc, where the Young Entrepreneurs are needed to be trained and assisted, they will also need support and assistance on how to get the business started and get going.

Lack of Business Contacts – In the start up stage, the YE is not aware of the suppliers and customers in the market. Identifying and understanding the procurement market and getting to know the customer markets can take quite a while. It is a lot easier if at this stage business specific support and information were to be extended through advisory bodies. Readily available information and industry contacts can make it a lot easier and faster for the YE to move ahead in setting up the operations and get going.

Business/Industry Specific Business Assistance

Every business has its own way of business operations and culture. Providing exposure to industry specific processes, introduction to the markets and suppliers including the common methodology and procedures of doing business can make it a lot easier for the YE saving a lot of his time. Such support can be made available through Government support agencies and specific Trade bodies with trained workers and researchers with experience.

Mentoring

If Young Entrepreneurs were to be provided access to mentors and experienced business entrepreneurs, it would help YE receive not only the practical guidance and wisdom to get going and avoid mistakes but their confidence as well as the speed at which they can move ahead in their business will be enhanced. The mentors have been there and done that and hence are in a position to guide the YE in the right way wherein costly mistakes and delays can be avoided and the YE gets to climb the learning curve faster.

In the mentors happen to be from the same line of business as the YE, then the value of such an association can be much higher for the Mentor can introduce the YE to the market and the industry and support in giving the leads.

Infrastructure Support

YE in the initial stages would require a lot of help in setting up an office and get started. Most often they lack the resources to fund for the basic infrastructure. Providing working space and common administrative support in the early stages can help the YE immensely for they not only save on spending the money on infrastructure and can invest into the business but they save time and effort in setting up the infrastructure support too.

SAYES Australia [South Australian Youth Entrepreneur Scheme] is a project sponsored by South Australian Business community which is designed to support the youth in the age of 18 to 30 years in their endeavour to become entrepreneurs.

The entire business community is engaged in encouraging the youth build on their business ideas, provide the requisite training and support and mentor them. The youth has access to the entire business community and the network through SAYES.

With selected Young Entrepreneurs, SAYES engages in mentoring, assisting in building the business plan and proposal as well as providing financial, legal and statutory compliance advice. They introduce the YE to the network of businessmen members in the industry and such contacts are of immense help to the beginners.

SAYES also conducts business skills and other related trainings and conferences for Young Entrepreneurs. In some cases the agency also provides financial assistance depending upon the eligibility criteria and the business case.

In conclusion we can say that there is a lot that the business community and experienced veterans can contribute and lead the Young Entrepreneurs until they learn the ropes of the business. It is for the Youth to realise this and see value in receiving guidance.

Starting an enterprise with meagre resources and no background experience is very tough indeed. Government and other business networks have a lot to contribute and assist YE in getting started by means of providing common shared resources and infrastructure at affordable prices or free of cost.

Revolution in technology and the resultant growth in all fields and globalisation has impacted the World. Developing countries like India and China are growing rapidly both in terms of economic development as well as population. Growing economies provide ample opportunities for services and provide opportunities for entrepreneurs to set up small enterprises in different fields. There are huge opportunities for individual enterprise in IT Services, Financial services, Travel and Tourism, Food, Supply chain, Health care services and many more fields. While some country’s economies are not growing and the unemployment is growing, in the developing countries which are registering higher economic growth, there is no impetus for growth of youth entrepreneurship.

Reasons and Causes of Youth Unemployment & Entrepreneurship

1. Socio-Cultural Factors as Inhibitors to Entrepreneurship

   In some of the countries the social and cultural outlook of the societies may not encourage initiatives and entrepreneurship. Many societies expect the youth to obtain education that enables them to get a job and earn salary to support the family. Economic compulsions too can push the families to encourage youth to look for jobs and not look at opportunities. In some cases certain caste or class of people are habituated to practicing certain occupations and thus entrepreneurship becomes a prerogative of certain sections of the society. Some other societies are risk averse and tend to play safe, while many communities believe in their children pursuing defence services opportunities or social service opportunities and so on.

   In societies where the incidence youth rebellion, revolt and violence is very high due to economic situation as well as due to the cultural outlook, youth may be wasting their time neither pursuing education that helps them gain employment nor trying their hands at hands at entrepreneurship in the face of too many obstacles and hurdles in the society.

2. Economic & Political Factors

   Economies which are not growing are grappling with huge unemployment problems and this is affecting the youth too. When the economy is down and the business is not doing well, there will be no opportunities for small entrepreneurs to provide services to support the economy and business.

   Political will and focus to focus on youth in the country and to create a positive environment that encourages youth to dream and work towards realising their dream is very much necessary in any society. It is the political will that can spearhead the Youth revolution. Absence of stability in the political situation of the country and the political party’s outlook towards this area can make or break the youth entrepreneurship’s growth.

3. Policy framework

   Government policy and framework in the country helps identify and build the base for youth entrepreneurship. The policies need to encourage and provide opportunities as well as assistance and environment to give impetus to youth entrepreneurship and have got to be implemented at national, regional and local levels. Policy directives will need to engage the business, banking, educational and other sectors to be able to deliver definitive steps to encouraging and aiding youth entrepreneurship. Lack of such policy framework can hinder the growth and initiative in the youth.

4. Industry Support & Patronage

   In any industry, it is largely the business sector that provides opportunities for support services and creating new networks of business enterprises. Similar to their role in social responsibility, Industry can create a very strong platform to help develop the youth and give them the support and guidance as well as opportunities to the youth. In society where the industry enterprise is not very significant or not very active, there can be no encouragement for youth entrepreneurship.

5. Education System & Orientation

   In most of the countries today the education system is geared to enabling the youth to pass out with their qualifications based on academic knowledge and prepare for seeking a job. There is little or no focus on building and equipping the students with leadership, building awareness and giving them training for entrepreneurship. Of late there is a trend to introduce specialised courses and training modules on entrepreneurship in many of the universities. In most cases the students do not attempt to think out of the box as they are not equipped with the necessary skills.

6. Finance & Business Support

   One other biggest hurdle faced by each and every entrepreneur is the lack of financial backup and funding as well as guidance required to incubate new business. Most often those who attempt to start any enterprise do so borrowing from family and friends and dipping into their saving. After a while the business starts to suffer due to lack of funds and they end up in a debt trap. Banking and financial assistance should be made available easily and this can happen only with the active support and engagement by the Government. Nowadays venture capitalists are funding new enterprises. However this is available to very few and not to the larger sections of the society.

Governments of all countries have started focusing on Youth entrepreneurship in the recent years thanks to the research and study by the academician, NGOs and International Organizations. In all countries the Governments have realized the need for policy making in the field of Youth entrepreneurship with an aim to solve some of the unemployment problems amongst the youth, bring marginalized youth into the main stream and provide them with gainful avenues of employment as well as for the overall benefit and advancement of the society too. The policy making in this area is still in its nascent stages and is evolving.

Drawing up Youth Entrepreneurship policy calls for collaboration and integration from multiple stake holders in the society, Government as well as other sectors including NGOs, Education, Labour and Youth Departments. The youth policy would have to be drawn up taking into account the social, financial, political as well as micro and macroeconomic policies with both short term as well as long term perspectives. Political will and initiative at all levels of the Government, Industry as well as society can go a long way in providing the right impetus for the growth of Youth Entrepreneurship in the country.

Needless to mention that the Youth Entrepreneurship policy making has to originate at the national level and by consensus. The policy directives and initiatives should then be driven down to the regional and local levels. Drawing up national policy on Youth Entrepreneurship would need to take into consideration the international organization’s outlook and policies concerning the Youth and align with the same as far as possible. Keeping in line with ILO’s policy guidelines concerning Youth Entrepreneurship and employment, in country policies can aim to create increased employment opportunities as well as increase the capability of the youth and provide direction for the growth of Youth Power.

Youth Entrepreneurial policy would be unique for each and every country as its socio- economic framework and society are different in each case would determine the kind of policy the country would need to adopt. Every society and youth would have its unique features and characteristics besides the economic factors that would have to be taken into account to draw up policy measures as applicable to the current times as well as with long term perspective.

Policy making in Youth Entrepreneurship calls for understanding the current dynamics, the emerging scenarios in the society and other related fields including economy, industry, education etc, understanding problems amongst the youth in all sections of society as well as futuristic trends and developing suitable interventions to address the problems as well as to embark on a comprehensive and futuristic policy.

Academicians and several agencies have invested into studying and bringing out a lot of data and information defining Youth entrepreneurship and have suggested policy approach too. Youth entrepreneurship policies are defined at the national level by the Government in collaboration with several departments including Youth affairs, Education, Finance and other related disciplines to ensure that the complete needs of Youth are addressed to while defining the policy.

Accordingly, Youth Entrepreneurship of countries take into account and define policies that address the entire process of building the skills and providing the education to equip youth with necessary technical, business, finance, training and other related areas to prepare them to embark on entrepreneurship.

A comprehensive youth entrepreneurship policy goes on to the next phase of developing and grooming the Youth in terms of soft skills including, attitude, motivation and ethics etc. The policy should include specific actions that will increase the employability of the youth in measurable terms.

A progressive Youth Entrepreneurial policy goes on further to describe and define several kinds of entrepreneurial opportunities and sectors that are available to the Youth and provide for training and guidance to the youth to equip themselves for each of the identified sectors.

An effective Youth Entrepreneurship policy should include the provisions and schemes that the Government intends to make available to the youth by means of providing assistance in the areas of finance, guidance, mentoring, single window clearance, marketing and sales assistance as well as technical assistance in all areas of business operations to encourage and incubate youth entrepreneurs.

It should be understood very clearly that in every country, it is the Government that needs to create the avenues and opportunities for employment as well as for entrepreneurship and educate, train as well as equip the youth to take on the opportunities. How and when this can be achieved would become the important part of the policy that will define the road ahead that leads to implementation.

As the Youth Entrepreneurship policy involves multiple sectors, it is important to make the budgetary provisions as well as define the responsibilities of each and every other department and outline a collaborative approach to the overall implementation of policy guidelines.

Youth entrepreneurships form a part of the overall economy and the industrial segments. SMEs and service sectors that are predominantly private enterprises do contribute to the overall economy both in financial perspective as well as from the point of service perspective as well. Therefore a huge part of the economic policy towards SME development goes hand in hand with Youth entrepreneurship policy as well.

Thus Youth Entrepreneurship policy definition needs to be all comprehensive and futuristic encompassing education, economy, social and other related fields outlining action plan and time frame for achieving the goals. In current times where countries are undergoing economic as well as social and cultural changes due to the evolution of technology and globalization, the YE policies would need to take into account the changes happening in the society and amongst the youth and be able to address their aspirations and provide them with a map to the future that will unleash the Youth power.

Youth power if harnessed guided and nurtured carefully, will certainly contribute to the growth of the society and the nation undoubtedly. Therefore Youth Entrepreneurship policy demands such focus and importance in every country.

Government – The Primary Stake Holder

First and foremost the primary and most important stake holders in Youth Entrepreneurship development policy program happens to be the Government. When we refer to the Government, it should be noted that the Federal or Central Government defines and brings out the policy. However the policy directives are then carried forward and taken up by the regional and local Governments as well as the local Youth Departments of the Government.

In building a culture that promotes Youth Entrepreneurship development in the country, the Government at all levels has a major role to play by creating the right environment, providing the impetus to the movement and initiating a positive and developmental language and culture. The different departments and ministries under the Government concerned with Youth, Education and other related areas also form an extension of the Government’s arm.

Private Sector Enterprises

Apart from the Government and the related institutions which own the Youth Entrepreneurship development responsibility, the private sector and the society too has an equally important role in this area. By Private sector we are referring to the entire industry including the banking and financial institutions, the trade associations, the general trade, the industries and all private institutions including educational institutions and establishments. Effective implementation in Youth Entrepreneurship development calls for providing & creating opportunities for the Youth to get engaged in entrepreneurship can be done only by these private stake holders.

In a culture that is pro Youth Entrepreneurship, we find the industry and the private companies coming forward to encourage the Youth, to hand hold and give them opportunities to get started as entrepreneurs. The business leaders too take a personal interest in this area and motivate the Youth in the right direction. Some of the corporate business houses take it as their social responsibility to provide and encourage the Youth Entrepreneurship. Some of the Multi National Companies like IBM etc are known to support women and youth entrepreneurs actively in developing countries and reserve few areas of services procurement to the Youth thereby encouraging them to become service providers to the Company.

Non Profit Sector – The Facilitators

Apart from the Government and the Private sector players, it is the Non-profit sector organizations such as the NGOs, The Youth Organizations, Community Networks, Cultural Associations and Private Trusts and Foundations that play the important role of being facilitators and enablers of Youth Entrepreneurship Policy implementation. These stake holders can be said to be the movers and shakers of the YE Programs in the society. The NGOs contribute a lot not only by way of engaging directly in the implementation and working with Youth groups but also by way of engaging in field studies, providing valuable data and assessment to the study groups.

Finally the Youth Power belongs to the society and by promoting Youth Entrepreneurship, the entire society including the public and media, as well as the nation is benefitted. Therefore we can rightly say that the society too is a stake holder in the policy implementation in the country.

If the youth have to be developed as a resourceful and innovative future generation, the effort has to be put in by all including family, society, community, schools, colleges as well as industry and government too. As such each of these have a significant role to play in contributing to creation of Youth Entrepreneurship.

Family and Community play a very significant and important role in directing and guiding the youth in pursuing their future. Normally communities and societies that have had to struggle or have been striving for economic sustenance are seen to promote a view that the youth should take up a job and start contributing to the family’s income and help with the expenses.

Most of the third world countries and the rural youth population face this reality. The social and cultural background of the families and community either support or inhibit enterprising culture and behaviour. A community that is sensitive to the development of aspirations of the youth nurtures the same and creates a trend for self-employment.

We see from the recent history that American society has promoted a culture of youth entrepreneurship resulting in hundreds of YE in the Silicon Valley as well as other areas. Europeans especially the Youth in UK seem to be motivated towards taking up jobs and not necessarily striving to be on their own. A culture that is forgiving and allowing one to make mistakes and learn from them breeds Youth Entrepreneurship and creativity.

The cultural outlook of societies at large is a result of history and years of tradition that have been passed on from generation to generation.

At micro level, the outlook of the community and family towards money, standard of living, education as well as their aspirations guide their thought process for the Youth too. A prosperous and progressive society creates a healthy environment and demand for products and services thus creating business opportunities.

The awareness of importance of education and their traditional view to education too plays an important part that helps the youth dream, aspire and strive to explore new ventures and opportunities to grow their knowledge, allows free thinking, exhibit their talent, strive for economic independence as well as work for social services or inhibits them, their thinking and growth.

Historically China, India and Persia as well as Europe were the centres that promoted Education and advancement in all fields of science and technology. Modern times have seen America and Europe becoming the international educational hubs drawing thousands of students from all over the world.

The outlook of the American and European Universities have shaped the outlook of its students who have turned out to be progressive, enterprising and excellent human beings who have contributed to and given back to the society at large. This cultural outlook and the resultant affect on the youth have prompted parents of all nationalities to send their children abroad for higher studies.

If scientists and doctors as well as IT professionals are always looking to migrate to America from the rest of the world, it is because of the freedom and opportunity as well as the spirit of Entrepreneurship that the country provides for the youth.

Each and every community as well as society tends to have its own cultural outlook that is aggressive, peace loving, progressive, liberal, conservative etc. The outlook of the community has a bearing on the overall lifestyle and thinking of the younger generation as well as the outlook and progress of the nations too.

Coming out of the cultural mindsets, nations today have recognised the need to build and train their youth by providing education and skills necessary to make them job creators rather than job seekers.

Several programs and funds have been provided by the Countries Governments as well as the World Organisations like ILO, UNESCO and others. However the effort towards building awareness and providing training is miniscule compared to the need at the global levels.

While the Governmental agencies are trying their best to promote Youth Entrepreneurship, there is a lot more that NGOs and Industries as well as Educational Institutions can do both at national and international levels. Collaboration and Collective participation can help make a better future for the coming young generations.

Encouraging the Youth to become entrepreneurs has a lot of advantages in terms of solving problems of unemployment in the economy as well as paving way for the innovation and growth of the country too.

Understanding the need to creating and nurturing Youth Entrepreneurship, many countries have taken up strategic initiatives and implemented plans aimed at imparting Entrepreneurial skills and knowledge through education. Such a move no doubt provides the freedom and the thrust to the Youth to dream and achieve their dreams.

Leadership is not only a born talent but can be acquired through learning and training too.

An ideal entrepreneurial training and studies should include subjects like Entrepreneurship Awareness Building Skills, Entrepreneurial & Personal Empowerment skills, Business Planning, Business Management as well as Personal Empowerment skills.

Entrepreneurship Awareness Building

Entrepreneurship is all about being a visionary self starter leadership, one who is able to identify opportunities to offer solutions in the form of product, technology, process or service to fulfil a need and thereby gather and employ all necessary resources including manpower, finance, technology, infrastructure and others to build a successful enterprise in the chosen area of business.

Being an entrepreneur calls for a lot of grit and determination as well as ability to take calculated risks as well as responsibility. Leadership calls for the ability to find workable solutions and crossing all hurdles to reach the goal without getting bogged down.

An entrepreneur carries a vision not only of making profits but also a larger vision of creating jobs, helping people develop their potential, contributing to the society and at the same time ensuring the growth of his or her organisation and the people connected.

At the initial stage, one might have an inclination towards becoming an entrepreneur. But normally the students will not have an idea of what it means to be an entrepreneur. Such an awareness program educating them and introducing the concept of entrepreneurship in schools and colleges as well as through dedicated training programs help the youth make up their minds to pursue entrepreneurship as an option to a career.

Entrepreneurial Building

Being an entrepreneur calls for playing a multi disciplinary and multi functional role in managing one’s enterprise.

A successful entrepreneur is able to not only identify business opportunities, but is enterprising in his approach to developing the business opportunities into successful business enterprise. This calls for thinking out of the box and extraordinary leadership, creativity, foresight, ability to think ahead, ability to create options, ability to gather resources, manage resources to achieve the target as well as negotiate and solve problems both internal to the business as well as with external environment.

Being enterprising is an attitude of the mind. A good entrepreneur looks not only at his/her success, but the success of his organisation as well as of the team that works with him/her.

Entrepreneurship is also about being able to attract the best talent, to provide leadership and guidance to grow and nurture the talent, manage and harness the talent pool too. Through training one who has a basic initiative towards entrepreneurship can be moulded to become a successful entrepreneur.

Ability to think creatively, looking at the macro and micro environment as well as options, negotiating with alternatives and managing processes on all fronts without losing out on the vision can be sharpened through Entrepreneurial training.

Personal Empowerment Skills

Personal empowerment and development is necessary for every individual and most importantly for an entrepreneur. These skills apply to one’s ability to perform in his |her work area.

One needs to have the specific job function or technical skill to pursue a particular vocation but along with the functional skill and knowledge it is the personal empowerment of the individual that helps him succeed in the enterprise.

Personal Empower skills training imparts mind training to the entrepreneur, helping him learn to focus, concentrate, analyse and be objective in his thinking.

Positive thinking, learning to be assertive and affirmative as well as being balanced in thinking at all times, being calmly active, ability to manage stress and work under pressure are some of the skills that are a must for every successful entrepreneur.

An entrepreneur is also a leader. Through training he can develop leadership skills as well as groom oneself and build a positive image as well as enhance one’s self esteem. Personal development in the areas of self discipline, time management, being self-motivated and enthusiast are very essential for a young entrepreneur who is making his foray into business. All these skills can be learnt through specific training.

A good leader is assertive and at the same time able to motivate and encourage the others too. He has got to have excellent listening skills, patience & wisdom, emotional intelligence and more importantly a Win-Win attitude towards life and work.

A entrepreneur who is able to think big for oneself and for all of his team and take the entire organisation to reach the heights and realise their potential is a successful individual too. To become a good visionary entrepreneur, training helps for it helps sharpen his abilities, build additional skills as well as make him bring out his true potential too.