Youth entrepreneurship in any society is a sign of progress. It has an impact on social as well as cultural and economic progress of the society.
Articles on Youth Entrepreneurship
One of the major challenges faced by many countries in the world today is to do with youth unemployment. Lets understand the reasons and causes of youth unemployment.
Family and Community plays a very important role in directing and guiding the youth. Today Nations 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.
Lets discuss some of the important types of Youth Entrepreneurship as defined by the new generation scholar Clarence Danhof.
The study of Youth Entrepreneurship with reference to the society alone does not give a complete picture. Lets understand in details about the role of society and culture in shaping youth entrepreneurship.
Building Entrepreneurship among the Youth is one of the priorities as well as one of the solutions to solving the rising unemployment situation in all countries.
Entrepreneurship as an attitude can be nurtured and developed in the youth at the early stages. Lets understand how to build awarness about youth entrepreneurship through education.
Nurturing Youth Entrepreneurship is very beneficial for the society and economy as a whole. Many nations have recognised this fact and are providing focus and thought into building programs conducive for Youth Entrepreneurship.
Nurturing and Building Youth Entrepreneurship is a long term developmental program. Chigunta has proposed a three stage transitional phase in Youth Entrepreneurship.
When it comes to start up a business enterprise, the main barrier/obstacles which youth faces is - financing options. Lets understand the Financial Barrier to Youth Entrepreneurship Development in detail.
Youth Entrepreneurship development calls for support from various quarters. The various ways to improve the access to finanace are - Grants and Subsidies, Finance Counselling and Assistance, Venture Capitalists etc.
Building and Nurturing Youth Entrepreneurship requires understanding the impediments in the environment, understanding the mindset and attitudes of the Youth and removing the obstacles and hurdles that lie in their way in order to make it easier and encouraging to the Youth to get started with their own enterprise.
In this section, we shall look at few of the barriers that exist in Business Area including Business Information and Developmental Assistance as well as Business Knowledge and Support.
Building a society that is responsive to, encouraging and favourable to Youth Entrepreneurship is the responsibility of every society as well as the Government.
Governments in all countries 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.
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.
While drafting the Youth Entrepreneurship Policy one needs to ensure that all key stakeholders (Government, Private Sector Enterprises, Non Profit Sector) roles and responsibilities are defined clearly.
There are many aspiring entrepreneurs who think that they have a great idea and all it needs is some hard work and smart management to realize their ambitions. However, the nuts and bolts of running ones own business are many and this article examines some aspects that can cause the new ventures to fail and suggests some tips for entrepreneurs to follow.
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