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The key ingredients of financial support for youth entrepreneurs

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The aim of this High-Level Capacity Building Seminar is have an international exchange of information on inclusive entrepreneurship actions across the European Union and on how the European Union Structural Funds can be used to support actions that combine entrepreneurship promotion and social inclusion.

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The key ingredients of financial support for youth entrepreneurs

  1. 1. DIFFERENT YOUTH GROUPS – DIFFERENT LEARNING/ ACTION LEVELS
  2. 2. DIFFERENT ASPIRATIONS LEVELS Defining your target group at the outset Employed (public/ private sector) Survival and self-employed out of necessity Additional income/ hybrid entrepreneur Self-employed (also temporary) Micro entrepreneur Small entrepreneur Medium entrepreneur
  3. 3. DIFFERENT COMBINATIONS / STAGING IN TIME Full time Part time Intermittent Hybrid
  4. 4. DIFFERENT YOUTH GROUPS DIFFERENT FINANCING NEEDS
  5. 5. APPROACHES AND LESSONS TO LEARN • Primary school – Wijzer met geld zaken – financial education • Primary schools - Aflatoun and Child and youth International – appreciation of savings for investment • Secondary / vocational level – Jong ondernemen, mentoring and mini business exercise • Vocational – preparing for employment and self-employment : basic Business course san BDS referrals - important factor Age… example of BEST - Ethiopia with job placement programme • Higher education • University level – technology development , incubators - example Caballero factory – business centre – linking to informal investors – jong Ondernemen • Unemployed youths –special programmes , key element the selection , coaching and linking – Dream start
  6. 6. Self financing Friend family, crowd funding Developm ent costs of platforms Micro finance, special programmes, Micro finance schemes/ funding and capacity Banks, special funds Guarantee) funds, loan founds, training of staff Informal investors, P2P Platform, investmen t funds
  7. 7. DILEMMAS IN FINANCING (YOUTH ENTREPRENEURS • Do it yourself vs. specialized financing entity • Eligibility vs. Selection • Assisting vs. Helping (and till when?) • Supervision vs. Collection • Moral responsibility vs. Desired success • Integrated approach vs. complementing services • Financing vs business development costs • Special programmes vs. Mainstreaming
  8. 8. • Selection • Age and job placement • Prepare the youth but with in phased way : interest, awareness, entrepreneurship training , implementation skills • Phased approach – during classes and after start Savings first vs lending/investing later • Financial education (do not overstress financing!) • No graduation • Mainstreaming
  9. 9. Modern ways of dealing with things • Access to financing (Crowdfunding)/ P2P • Social (Web-based) Networks and how to bring BDS in • Access to information (but how to use it) • Other ways of experimenting • Time horizon – part time intermittent • Combining activities (hybrid forms)

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