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Youth entrepreneurship
Recommendations for action




          How businesses,
        governments and civil
        society organisations
           can help young
         people get started
             in business




The first report in YBI’s Making Entrepreneurship Work series
Introduction
Business, governments, and other
sectors of society are increasingly
recognising that supporting young
entrepreneurs can be a highly effective
way to reduce youth unemployment and
stimulate growth in local communities.
The question is, what is the most effective way
to do this? For nearly 10 years Youth Business             Five key messages
International has been helping to grow a network           • It is an economic and social imperative to
of independent in-country initiatives around the             address the youth unemployment challenge
world that help young people to start their own              – especially at a time of economic slowdown
business and create employment.
                                                           • Boosting youth enterprise delivers
This report draws on best practice from the members         substantial benefits both for the entrepreneur
of our network and other organisations in order to          and for the wider economy and society
make cross-sectoral recommendations for creating
a culture of youth enterprise. It is not intended to       • Entrepreneurship is not for everybody, but for
provide complete answers but to give a snapshot             many it can provide a long-term route out of
of what is working in different parts of the world to       poverty
give young people a chance to become a successful
entrepreneur.                                              • Making entrepreneurship work is not the
                                                            responsibility of one sector alone; it requires
Through sharing our insights, we aim to encourage           dedicated actions from all sectors of the
governments and other organisations to give their           community
support to young people who have a great business
                                                           • Young people need to be encouraged
idea but lack the means, and the support, to set up
                                                            and supported to take advantage of the
their own enterprise.
                                                            opportunities of entrepreneurship
This report is the first in our ‘Making Entrepreneurship
                                                           This report was launched for Global
Work’ series – providing recommendations for action
                                                           Entrepreneurship Week 2009, of which YBI
and examples of best practice in order to promote
                                                           is a global partner, to show what can be done
youth entrepreneurship.
                                                           to promote a youth enterprise culture around
                                                           the world.




                                                                                                              2
The case for Making
Entrepreneurship Work

The entrepreneurship The entrepreneurship
challenge            opportunity
Employment is established as “the major route           Despite these challenges and vulnerabilities, the
out of poverty”1 – and increasingly entrepreneurship    transition from childhood to adulthood is a period of
is being recognised for the economic and social         great potential for young people to begin making a
opportunities it can create.                            contribution to family, society and community.

The World Bank estimates that by 2015 –                 Participation in the job market helps to break the
target year for the Millennium Development Goals        cycle of poverty and unlock the potential of young
(MDGs) – there will be three billion people in the      people, providing a route towards social integration
world under the age of 25. However, although this       and economic independence. It is vital, both for their
generation will be the most educated ever,              own fulfilment as well as in the broader economic
International Labour Organisation statistics forecast   interest, that their talents and energies are
a sustained rise in unemployed youth. They              harnessed in productive work opportunities.
estimate that young people already make up as
much as 40% of the world’s total unemployed, and        Given estimates that half of the global workforce –
are almost three times as likely to be unemployed       seven times more than the number of unemployed –
as adults – a situation exacerbated by the recent       are likely to be in vulnerable employment this year,
world economic crisis.                                  actions must target the substantial decent work deficits 7.

The youth unemployment rate is projected to             Entrepreneurship is not suitable for everyone, but it
increase from 12% in 2008 to between 13 and             is vital that opportunities are open to young people
15% in 2009. The projected increase in the              – and properly understood by them – on completion
unemployment rate for adults is between 0.5 to          of education and training.
1%2. As the ILO concludes: “young people still suffer
disproportionately from a deficit of decent work        Entrepreneurship can provide a successful route
opportunities3”.                                        to long-term participation in the job market,
                                                        especially if the entrepreneur receives robust
The ILO has said that 2009 will represent the           support and advice in the business start-up phase.
worst global performance on record in terms of          Furthermore, entrepreneurship can be an engine
employment creation4. Young people are particularly     of economic growth.
vulnerable to the effects of an economic downturn:
“during and after a crisis, it is the youth who are     In the UK, small and medium-sized enterprises
hit hardest in terms of losing jobs and joining the     (SMEs) account for 99.9% of all enterprises, and are
unemployment queues. The increased gap between          responsible for 59% of private sector employment
youth and adult unemployment rates remains,             and 52% of private sector turnover 8. In the US
even after the economy has begun to recover.5”          more than 87% of all businesses have five or fewer
                                                        employees9. These microenterprises create new jobs
As much as 89% of the world’s total youth               on average at a rate of 900,000 per year. Between
population is born in developing countries6.            2000 and 2006 they created 36% of all new jobs
A global economic crisis makes living conditions –      in the US 10.
and job prospects – worse in developing countries
through a range of impacts: private capital flows       In view of this job creation potential, it is particularly
and investments slow; export earnings fall through      important to foster the conditions for an enterprise
reduced commodity prices; and remittances decline.      culture at a time of economic crisis when the job
                                                        market is stalling.




                                                                                                                 3
The case for Making
Entrepreneurship Work

The entrepreneurship
impact
Enterprise has a multiplier effect – both economic           The youth
and social. As the ILO concludes, “decent work for
young people unleashes multiplier effects throughout      unemployment
the economy and society, boosting investment and
consumer demand and ensuring more stable and
                                                        rate is projected to
cohesive social ties across generations”11.             increase from 12%
Halving the world’s youth unemployment rate            in 2008 to between
could add an estimated US$2.2 to 3.5 trillion to
the world economy. This represents 4.4% to 7.0%            13 and 15%
of the 2003 value of global gross domestic product
(GDP). The largest relative gains from supporting             in 2009.
youth into decent and productive work would be
in Sub-Saharan Africa, with an estimated rise of
12% to 19% in GDP 12 .

Running a business helps young people achieve
economic independence, reducing their reliance on
state welfare. Young entrepreneurs are more likely
to engage in their local community, spreading their
experience and energy, and creating additional jobs.

Employment also boosts a young person’s self-
esteem, making them more productive members
of a family and community. Research has                  In the US more
demonstrated a link between youth unemployment
and social exclusion: 13 a productive young
                                                         than 87% of all
population is less likely to cause social unrest         businesses have
or even conflict.
                                                           five or fewer
Given this generation is the most educated
ever, there is huge potential locked in today’s             employees
unemployed youth. However, as François
Bourguignon, the World Bank’s former Chief
Economist and Senior Vice President for
Development Economics warns: “The opportunities
are great, as many countries will have a larger,
more skilled labour force and fewer dependents.
But these young people must be well-prepared
in order to create and find good jobs.14 ”




                                                                               4
Recommendations
This section sets out actions that businesses,             the YBI Network as well as of other youth enterprise
governments and civil society organisations can            organisations around the world. There are five
take to create an enterprise culture in their community.   recommendations each for businesses, national and
The recommendations are based on the practical             local governments, and for civil society organisations.
experience of the member organisations within



Businesses
 Recommendation                        Why? & How?                              Case study:
                                       Creating links between new               Youth Business China’s
 1. Companies should                   entrepreneurs and established            mentoring programme is
 encourage their                       companies can bring multiple             supported by major Chinese
                                       benefits. The value of support           and international companies.
 employees to provide                  through advice, networks and             Mentors provide advice
 advice and support to                 other relationships cannot               and support to the young
 young people starting                 be overestimated for a new               entrepreneurs, as well as access
                                       entrepreneur. In addition,               to other business networks.
 out in business –                     business start-ups provide a             They themselves benefit
 especially in                         boost to their local economy,            through Youth Business China’s
 mentoring capacities.                 increasing overall market size           Mentor Clubs that offer forums
                                       and potentially contributing to          for the mentors to exchange
                                       supply and distribution chains           ideas and explore new trading
                                       of existing companies.                   opportunities. www.ybc.org.cn




 Recommendation                        Why? & How?                              Case study:
                                       For those leaving the formal             Business in the Community’s
 2. Companies should                   education system, one                    Work Inspiration is a business
 provide work experience               of the main challenges is                led campaign to strengthen
                                       understanding, and being                 the relevance and impact of
 schemes, together                     equipped for, the world of work.         work experience – for the
 with internships,                     Direct and early insights will           benefit of both the young
 apprenticeships and                   raise jobseekers’ confidence and         people and the companies
                                       new entrants’ efficiency, and the        involved. The programme
 training programmes,                  private sector can play a valuable       boosts young people’s
 in order to strengthen                role in this respect.                    motivation, confidence,
 the local enterprise                                                           experience and capability
                                                                                to be enterprising.
 culture.                                                                       www.workinspiration.com




                                                                                                                   5
Recommendation             Why? & How?                            Case study:
                           During the challenging                 The International
3. Companies               school-to-work transition              Youth Foundation’s entra
should support the         phase that young people face,          21 programme offers
development of             business can make a significant        disadvantaged young people
                           contribution: in shaping               in Latin America and the
effective educational      education policies that ensure         Caribbean employment
initiatives that include   those leaving full-time education      training and job placement
                           have the skills and qualifications     services. Importantly,
teaching the benefits      needed for future employment           employers are actively
and opportunities of       or enterprise.                         involved in the design
self-employment.                                                  of the programme, and
                                                                  training content is drawn
                                                                  from the needs of the labour
                                                                  market. The skills that the
                                                                  young people gain have
                                                                  been shown to increase
                                                                  their employability and
                                                                  their enterprise credentials.
                                                                  www.iyfnet.org


Recommendation             Why? & How?                            Case study:
                           Companies that partner with            As part of a larger collaboration
4. Companies should        youth enterprise charities can         effort, in 2009 Accenture
create partnerships        make a significant impact on the       provided The Prince’s Trust with
with youth enterprise      local communities they serve and       a pro bono project team who
                           in which their employees live.         worked to integrate the Trust’s
organisations to           Through sharing their experience       strategic reporting platform
strengthen their           and expertise companies can            with their financial systems.
                           make a tangible difference to the      In the process, the Accenture
operational capacity       services that the charities provide.   employees also concentrated
and efficiency.                                                   on imparting invaluable
                                                                  skills and knowledge to
                                                                  The Prince’s Trust’s internal IT
                                                                  team, enabling it to move the
                                                                  reporting programme forward
                                                                  with minimised dependence
                                                                  on external expertise.
                                                                  www.princes-trust.org.uk



Recommendation             Why? & How?                            Case study:
                           Banks and even some                    YBI’s partner in India,
5. Banks and               microfinance institutions              Bharatiya Yuva Shakti Trust
microfinance               (MFIs) are unable – or unwilling       (BYST), established a partnership
                           – to reach vulnerable sectors of       with National Bank of Baroda
institutions should        society excluded from finance,         to enable the bank to manage
partner with               such as disadvantaged youth.           BYST’s loan portfolio. BYST
community                  Organisations established              maintains responsibility for all
                           to help these groups do not            other aspects of its operations,
organisations to           necessarily have the (financial)       such as selecting and
improve young              capacity to administer lending         mentoring entrepreneurs.
people’s access            and borrowing functions. By            The partnership takes away
                           working with local organisations       the portfolio risk from BYST
to financing.              that better understand the risk        and increases the overall level
                           profile of young people, financial     of financing available for new
                           institutions become able to extend     business loans for young
                           services to new sections of society.   people. www.bystonline.org


                                                                                                      6
Government
Recommendation              Why? & How?                           Case study:
                            In many countries, the time and       Established as a public
1. National and local       cost involved in registering a        private partnership in the city
governments should          new business creates significant      of Johannesburg and backed
                            deterrents, in particular to young    by public funding, Business
work together to make       people who lack the means or          Place is an expanding
business registration       the confidence to persist against     network of walk-in information
as efficient as possible,   administrative obstacles. In          centres for predominantly
                            many countries there is little        young entrepreneurs across
by learning from            coordinated support for emerging      South Africa. The branches are
private sector              entrepreneurs in the micro and        located at accessible venues,
innovations.                informal business sectors.            and their services are designed
                                                                  to stimulate local business and
                                                                  assist communities in reducing
                                                                  on their government.
                                                                  www.thebusinessplace.co.za




Recommendation              Why? & How?                           Case study:
                            Traditionally, advice to young        The Consortium for
2. Governments and          people about the world of work        Entrepreneurship Education
education authorities       is biased towards the benefits        was established in the US
should include self         of working in a large company         to bring entrepreneurship
                            or within government. Often the       experiences to young people
employment as a             benefits of supporting young          through schools and
viable alternative          people into new enterprise are not    community programmes.
                            captured, nor the effectiveness       Comprising State Boards
within an overall           of initiatives deployed. As the       of Education, student
careers advice              United Nation’s World Youth           organisations and others,
structure.                  Action Plan states: “the challenge    the Consortium aims to: promote
                            is to scale up the successful         entrepreneurship education
                            aspects of [youth] initiatives.”      opportunities; set national
                                                                  curriculum standards; and
                                                                  share resources to train
                                                                  young entrepreneurs to advance
                                                                  their local economies.
                                                                  www.entre-ed.org



Recommendation              Why? & How?                           Case study:
                            Business networks can                 For a decade, Hambantota
3. Governments              be valuable to businesses             Youth Business Trust (HYBT)
should utilise existing     throughout their life cycle,          had been successfully supporting
                            but perhaps especially during         young entrepreneurs at the
structures, such as         the start up phase. Given the         district level. Recognising
chambers of commerce        economic, social and political        the strategic importance
and other business          benefits of a productive young        of strengthening youth
                            population, it is in a government’s   entrepreneurship in Sri Lanka,
networks, to support        interests to promote and support      the Ceylon Chamber of Commerce
the development             entrepreneurship using structures     – in collaboration with its
of youth                    already in place.                     regional branch in Hambantota
                                                                  – scaled up HYBT operations
entrepreneurship.                                                 and launched Youth Business
                                                                  Sri Lanka across the whole of
                                                                  the country. www.ybsl.lk


                                                                                                     7
Recommendation             Why? & How?                          Case study:
                           Business plan competitions           With the support of all levels
4. Governments should      have been shown to provide           of government, Students in
encourage schools and      an effective and engaging            Free Enterprise (SIFE) runs
colleges to run business   means to introduce a variety         national and global business
                           of business-related subjects to      competitions for university
plan competitions          new audiences. Competitions          students to develop socially
that promote start-up      can generate even more tangible      responsible enterprises in their
                           benefits if winners are given an     communities that meet local
opportunities.             opportunity to turn their business   need. It provides hands-on
                           proposition into reality.            insights into setting up and
                                                                running a company. Many of
                                                                the students involved in SIFE
                                                                competitions go on to develop
                                                                their own social enterprises.
                                                                www.sife.org



Recommendation             Why? & How?                          Case study:
                           Targeting investment at youth        In March 2009 the Canadian
5. Governments should      entrepreneurship schemes can         Government invested C$10
prioritise investment in   bring long-term benefits to          million with the Canadian
                           governments, both in reducing        Youth Business Foundation
youth entrepreneurship     unemployment and other welfare       (CYBF) to support young
initiatives to tackle      payments, and in increasing          entrepreneurs, as part of its
youth unemployment         tax revenue.                         work to stimulate
                                                                the national economy.
and as a means to                                               CYBF has calculated that the
reduce welfare costs.                                           businesses supported by the
                                                                grant will generate C$135
                                                                million in sales revenue and
                                                                C$32 million in tax revenue
                                                                for the nation’s economy,
                                                                through the creation of 900
                                                                new businesses and an
                                                                estimated 5,000 new jobs.
                                                                www.cybf.ca




                                                                                                   8
Civil society organisations

Recommendation             Why? & How?                          Case study:
                           Awareness of the opportunities       The Barbados Youth
1. Youth enterprise        of entrepreneurship is low           Business Trust (BYBT) has
organisations should       across many countries. Those         invested in raising the profile
engage in community        organisations that specialise in     of entrepreneurship in
                           supporting young entrepreneurs       Barbados. Through schools,
outreach and               have a valuable role to play in      community centres, churches
mobilisation to foster     communicating the potential          and other institutions, as well
                           benefits of starting a business to   as broadcast media, since its
a culture and spirit of    wider audiences.                     inception in 1996 BYBT has
entrepreneurship.                                               come into contact with more
                                                                than 10,000 young
                                                                unemployed people,
                                                                introducing them to self
                                                                employment as a career option.
                                                                www.youthbusiness.bb



Recommendation             Why? & How?                          Case study:
                           The combined expertise               International Alert and Youth
2. Non-governmental        and outreach of different            Business Sri Lanka (YBSL) work
organisations working      organisations can have a             together to assist young people
                           transformative effect on a local     to set up in business in areas
in apparently different    community. Even when the             vulnerable to violence.
areas should identify      overlap of two organisations         Economic and social progress
and develop synergies      does not seem obvious, there         is not possible without peace,
                           can be very useful collaboration     and vice versa. Improving the
in order to deliver more   – especially in tackling the         life chances of young people
effective levels of        complex underlying causes            can make a significant impact
support to young           of youth unemployment and            on reducing conflict and,
                           disenfranchisement.                  most importantly, the causes
entrepreneurs.                                                  of conflict. www.ybsl.lk /
                                                                www.international-alert.org/
                                                                srilanka




Recommendation             Why? & How?                          Case study:
                           Grassroots organisations can         The Youth Volunteer Network
3. Community               benefit from tapping into            (VNET), established by The
organisations should       the resource of unemployed           Hong Kong Federation of
provide volunteer          youth. Equally, local voluntary      Youth Groups (HKFYG),
                           experience can equip young           encourages young people
opportunities for young    people with useful skills to         to participate in voluntary
people to work in the      continue along the path              services and to serve
                           towards employment and               their community. The
community.                 entrepreneurship, as well as a       volunteers involved are
                           sense of commitment to their         exposed to a range of different
                           community.                           organisations, raising their
                                                                awareness of – and
                                                                preparedness for – the different
                                                                work opportunities available
                                                                to them later in life.
                                                                www.hkfyg.org.hk



                                                                                                   9
Recommendation               Why? & How?                         Case study:
                             Many countries face a challenge     Fundación Paraguaya and
4. NGOs should tailor        of developing poor rural            the San Francisco Agricultural
vocational and life skills   communities, to prevent mass        High School provide a holistic
training according to        migration to urban centres.         education in agriculture and
                             It is therefore essential that      entrepreneurship to the
local community needs        skills training is aimed at those   children of very low-income
– in particular to cater     activities most appropriate and     farmers in Paraguay. The
                             relevant for current and future     ‘farm school’ integrates
for rural areas.             enterprise in rural communities.    traditional high school
                                                                 subjects with training
                                                                 in small-scale agricultural
                                                                 enterprises. On graduation,
                                                                 students have the skills to
                                                                 start their own rural enterprises
                                                                 (with a business plan and
                                                                 micro-loan in hand), to secure
                                                                 jobs in the modern agricultural
                                                                 sector or to attend university.
                                                                 www.fundacionparaguaya.org.py



Recommendation               Why? & How?                         Case study:
                             There is an increasing demand       GVEP International (Global
5. Environmental NGOs        for effective environmental         Village Energy Partnership)
should target support        projects in communities to          operates a network programme
                             address challenges such as          to build the capacity of over
to young people to           renewable energy, access to clean   1,800 small and micro energy
help them capitalise on      water and waste management.         enterprises in rural areas of
the opportunities of the     Many of these are particularly      Kenya, Uganda and Tanzania.
                             suitable for start-up businesses.   Experts in energy technology,
low carbon economy.          Moreover, young people often        business development and
                             have a greater awareness of         financing provide training,
                             environmental issues and            mentoring and access to
                             climate change.                     finance to help turn low carbon
                                                                 initiatives into reality. This
                                                                 support is providing thousands
                                                                 of households with access
                                                                 to renewable energy.
                                                                 www.gvepinternational.org




                                                                                                 10
Conclusion
Youth unemployment presents a
significant challenge, and future
forecasts demonstrate the need for
an immediate, robust and coordinated
response.
Enterprise can provide a long-term route out of        All of the members of the network operate
poverty for many unemployed young people, and          according to three common principles:
as the recommendations set out in this report show,
each sector can play its part in making                i.) They support young people, typically aged
entrepreneurship work.                                     between 18-30, who have a good business
                                                           idea but who cannot obtain help elsewhere;
The real benefits are derived when sectors work        ii.) They provide access to start-up funds in the
together to create a culture of entrepreneurship,           form of a loan without the need for guarantees
with opportunities open to young people:                    or collateral; and
                                                       iii). They provide young entrepreneurs with a
• For young people, it helps them achieve economic           volunteer business mentor and access to
  independence and make a valuable social                    business development services.
  contribution, and it raises their self-esteem.
                                                       This approach significantly increases business
• For companies, it encourages the development         survival and growth – key factors in sustainable
  of a dynamic small business sector, boosts           job creation.
  demand in the local economy, and strengthens
  community involvement.                               The goal of Youth Business International is to
                                                       enable our network to support 100,000 new young
• For society, it reduces the costs associated with    entrepreneurs annually by 2020. In doing so we will
  youth unemployment, helps spread prosperity,         have created more than one million jobs, making a
  and reduces youth disenfranchisement and social      significant contribution to the global employment
  conflict.                                            challenge.

• For governments, it can reduce welfare costs and     YBI was founded in the UK in 2000 and is one
  increase revenue, and it provides opportunities to   of The Prince’s Charities, a group of not-for-profit
  benefit from the talent, enthusiasm and energy of    organisations of which HRH The Prince of Wales
  the young people they serve.                         is President.

About Youth Business International                     YBI’s global network is currently supporting
and its global network                                 young entrepreneurs in 40 countries across six
Youth Business International is a not-for-profit       continents. In 2008, the YBI Network helped nearly
organisation that leads a global network of            7,000 new entrepreneurs get started in business.
independent country initiatives helping young
people to start their own business and create          More at www.youthbusiness.org
employment.




                                                                                                              11
The Prince’s Youth Business
International
The Prince’s Charities,
PO Box 50473, London W8 9DN, UK
T: +44 (0)20 3326 2060
F: +44 (0)20 7937 8474
E: info@youthbusiness.org
www.youthbusiness.org
Registered in England no. 6550164
Charity no. 1123946

Design
www.re-everything.com

Images
Cover images show (from left to right):
Juan Ramón Nuñez from Argentina,
Sarala Bastian from India and Fadi
Elobra from Israel – all successful young
entrepreneurs who were supported by
organisations within Youth Business
International’s global network. All three
entrepreneurs were recognised in YBI’s
2009 Entrepreneur of the Year competition.




1. ‘OECD Policy Guidance note: Employment, Promoting Pro-Poor Growth: Employment’, 2009
   http://www.oecd.org/dataoecd/46/40/43573231.pdf
2. ‘Global Employment Trends - Update’, ILO, May 2009
   http://www.ilo.org/wcmsp5/groups/public/---dgreports/---dcomm/documents/publication/wcms_106504.pdf
3. ‘Global Employment Trends for Youth’, ILO, October 2008, p.2 http://www.ilo.org/public/libdoc/ilo/P/09316/09316(2008).pdf
4. Ibid.
6. ‘Who Is Hit Hardest during a Financial Crisis? The Vulnerability of Young Men and Women to Unemployment in an Economic Downturn’,
   Sher Verick, International Labour Organization (ILO) and IZA, Discussion Paper No. 4359, August 2009, p.33 http://ftp.iza.org/dp4359.pdf
6. ‘Global Employment Trends for Youth’, ILO, October 2008, p.7 http://www.ilo.org/public/libdoc/ilo/P/09316/09316(2008).pdf
7. ‘Global Employment Trends - Update’, ILO, May 2009
    http://www.ilo.org/wcmsp5/groups/public/---dgreports/---dcomm/documents/publication/wcms_106504.pdf
8. SME Statistics 2007, DBIS http://stats.berr.gov.uk/ed/sme/smestats2007-ukspr.pdf
9. Microenterprise Business State-Level Analysis, 2002-2006, The Association for Enterprise Opportunity
    http://www.microenterpriseworks.org/microenterpriseworks/files/ccLibraryFiles/Filename/000000001330/MEBS%205%20year%20analysis.pdf
10. The Association for Enterprise Opportunity (AEO) www.microenterpriseworks.org
11. ‘Resolutions adopted by the International Labour Conference at its 93rd Session, Geneva, June 2005’
     http://www.ilo.org/public/english/standards/relm/ilc/ilc93/pdf/resolutions.pdf
12. http://www.ilo.org/public/english/employment/strat/download/getyen.pdf
13. http://www.ilo.org/public/english/region/ampro/cinterfor/news/unemploy.htm
14. http://econ.worldbank.org/WBSITE/EXTERNAL/EXTDEC/EXTRESEARCH/EXTWDRS/EXTWDR2007/0,,
     contentMDK:20601683~pagePK:64167702~piPK:64167676~theSitePK:1489834,00.html


                                                                                                                                              12

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Youth entrepreneurship - recommendations for action

  • 1. Youth entrepreneurship Recommendations for action How businesses, governments and civil society organisations can help young people get started in business The first report in YBI’s Making Entrepreneurship Work series
  • 2. Introduction Business, governments, and other sectors of society are increasingly recognising that supporting young entrepreneurs can be a highly effective way to reduce youth unemployment and stimulate growth in local communities. The question is, what is the most effective way to do this? For nearly 10 years Youth Business Five key messages International has been helping to grow a network • It is an economic and social imperative to of independent in-country initiatives around the address the youth unemployment challenge world that help young people to start their own – especially at a time of economic slowdown business and create employment. • Boosting youth enterprise delivers This report draws on best practice from the members substantial benefits both for the entrepreneur of our network and other organisations in order to and for the wider economy and society make cross-sectoral recommendations for creating a culture of youth enterprise. It is not intended to • Entrepreneurship is not for everybody, but for provide complete answers but to give a snapshot many it can provide a long-term route out of of what is working in different parts of the world to poverty give young people a chance to become a successful entrepreneur. • Making entrepreneurship work is not the responsibility of one sector alone; it requires Through sharing our insights, we aim to encourage dedicated actions from all sectors of the governments and other organisations to give their community support to young people who have a great business • Young people need to be encouraged idea but lack the means, and the support, to set up and supported to take advantage of the their own enterprise. opportunities of entrepreneurship This report is the first in our ‘Making Entrepreneurship This report was launched for Global Work’ series – providing recommendations for action Entrepreneurship Week 2009, of which YBI and examples of best practice in order to promote is a global partner, to show what can be done youth entrepreneurship. to promote a youth enterprise culture around the world. 2
  • 3. The case for Making Entrepreneurship Work The entrepreneurship The entrepreneurship challenge opportunity Employment is established as “the major route Despite these challenges and vulnerabilities, the out of poverty”1 – and increasingly entrepreneurship transition from childhood to adulthood is a period of is being recognised for the economic and social great potential for young people to begin making a opportunities it can create. contribution to family, society and community. The World Bank estimates that by 2015 – Participation in the job market helps to break the target year for the Millennium Development Goals cycle of poverty and unlock the potential of young (MDGs) – there will be three billion people in the people, providing a route towards social integration world under the age of 25. However, although this and economic independence. It is vital, both for their generation will be the most educated ever, own fulfilment as well as in the broader economic International Labour Organisation statistics forecast interest, that their talents and energies are a sustained rise in unemployed youth. They harnessed in productive work opportunities. estimate that young people already make up as much as 40% of the world’s total unemployed, and Given estimates that half of the global workforce – are almost three times as likely to be unemployed seven times more than the number of unemployed – as adults – a situation exacerbated by the recent are likely to be in vulnerable employment this year, world economic crisis. actions must target the substantial decent work deficits 7. The youth unemployment rate is projected to Entrepreneurship is not suitable for everyone, but it increase from 12% in 2008 to between 13 and is vital that opportunities are open to young people 15% in 2009. The projected increase in the – and properly understood by them – on completion unemployment rate for adults is between 0.5 to of education and training. 1%2. As the ILO concludes: “young people still suffer disproportionately from a deficit of decent work Entrepreneurship can provide a successful route opportunities3”. to long-term participation in the job market, especially if the entrepreneur receives robust The ILO has said that 2009 will represent the support and advice in the business start-up phase. worst global performance on record in terms of Furthermore, entrepreneurship can be an engine employment creation4. Young people are particularly of economic growth. vulnerable to the effects of an economic downturn: “during and after a crisis, it is the youth who are In the UK, small and medium-sized enterprises hit hardest in terms of losing jobs and joining the (SMEs) account for 99.9% of all enterprises, and are unemployment queues. The increased gap between responsible for 59% of private sector employment youth and adult unemployment rates remains, and 52% of private sector turnover 8. In the US even after the economy has begun to recover.5” more than 87% of all businesses have five or fewer employees9. These microenterprises create new jobs As much as 89% of the world’s total youth on average at a rate of 900,000 per year. Between population is born in developing countries6. 2000 and 2006 they created 36% of all new jobs A global economic crisis makes living conditions – in the US 10. and job prospects – worse in developing countries through a range of impacts: private capital flows In view of this job creation potential, it is particularly and investments slow; export earnings fall through important to foster the conditions for an enterprise reduced commodity prices; and remittances decline. culture at a time of economic crisis when the job market is stalling. 3
  • 4. The case for Making Entrepreneurship Work The entrepreneurship impact Enterprise has a multiplier effect – both economic The youth and social. As the ILO concludes, “decent work for young people unleashes multiplier effects throughout unemployment the economy and society, boosting investment and consumer demand and ensuring more stable and rate is projected to cohesive social ties across generations”11. increase from 12% Halving the world’s youth unemployment rate in 2008 to between could add an estimated US$2.2 to 3.5 trillion to the world economy. This represents 4.4% to 7.0% 13 and 15% of the 2003 value of global gross domestic product (GDP). The largest relative gains from supporting in 2009. youth into decent and productive work would be in Sub-Saharan Africa, with an estimated rise of 12% to 19% in GDP 12 . Running a business helps young people achieve economic independence, reducing their reliance on state welfare. Young entrepreneurs are more likely to engage in their local community, spreading their experience and energy, and creating additional jobs. Employment also boosts a young person’s self- esteem, making them more productive members of a family and community. Research has In the US more demonstrated a link between youth unemployment and social exclusion: 13 a productive young than 87% of all population is less likely to cause social unrest businesses have or even conflict. five or fewer Given this generation is the most educated ever, there is huge potential locked in today’s employees unemployed youth. However, as François Bourguignon, the World Bank’s former Chief Economist and Senior Vice President for Development Economics warns: “The opportunities are great, as many countries will have a larger, more skilled labour force and fewer dependents. But these young people must be well-prepared in order to create and find good jobs.14 ” 4
  • 5. Recommendations This section sets out actions that businesses, the YBI Network as well as of other youth enterprise governments and civil society organisations can organisations around the world. There are five take to create an enterprise culture in their community. recommendations each for businesses, national and The recommendations are based on the practical local governments, and for civil society organisations. experience of the member organisations within Businesses Recommendation Why? & How? Case study: Creating links between new Youth Business China’s 1. Companies should entrepreneurs and established mentoring programme is encourage their companies can bring multiple supported by major Chinese benefits. The value of support and international companies. employees to provide through advice, networks and Mentors provide advice advice and support to other relationships cannot and support to the young young people starting be overestimated for a new entrepreneurs, as well as access entrepreneur. In addition, to other business networks. out in business – business start-ups provide a They themselves benefit especially in boost to their local economy, through Youth Business China’s mentoring capacities. increasing overall market size Mentor Clubs that offer forums and potentially contributing to for the mentors to exchange supply and distribution chains ideas and explore new trading of existing companies. opportunities. www.ybc.org.cn Recommendation Why? & How? Case study: For those leaving the formal Business in the Community’s 2. Companies should education system, one Work Inspiration is a business provide work experience of the main challenges is led campaign to strengthen understanding, and being the relevance and impact of schemes, together equipped for, the world of work. work experience – for the with internships, Direct and early insights will benefit of both the young apprenticeships and raise jobseekers’ confidence and people and the companies new entrants’ efficiency, and the involved. The programme training programmes, private sector can play a valuable boosts young people’s in order to strengthen role in this respect. motivation, confidence, the local enterprise experience and capability to be enterprising. culture. www.workinspiration.com 5
  • 6. Recommendation Why? & How? Case study: During the challenging The International 3. Companies school-to-work transition Youth Foundation’s entra should support the phase that young people face, 21 programme offers development of business can make a significant disadvantaged young people contribution: in shaping in Latin America and the effective educational education policies that ensure Caribbean employment initiatives that include those leaving full-time education training and job placement have the skills and qualifications services. Importantly, teaching the benefits needed for future employment employers are actively and opportunities of or enterprise. involved in the design self-employment. of the programme, and training content is drawn from the needs of the labour market. The skills that the young people gain have been shown to increase their employability and their enterprise credentials. www.iyfnet.org Recommendation Why? & How? Case study: Companies that partner with As part of a larger collaboration 4. Companies should youth enterprise charities can effort, in 2009 Accenture create partnerships make a significant impact on the provided The Prince’s Trust with with youth enterprise local communities they serve and a pro bono project team who in which their employees live. worked to integrate the Trust’s organisations to Through sharing their experience strategic reporting platform strengthen their and expertise companies can with their financial systems. make a tangible difference to the In the process, the Accenture operational capacity services that the charities provide. employees also concentrated and efficiency. on imparting invaluable skills and knowledge to The Prince’s Trust’s internal IT team, enabling it to move the reporting programme forward with minimised dependence on external expertise. www.princes-trust.org.uk Recommendation Why? & How? Case study: Banks and even some YBI’s partner in India, 5. Banks and microfinance institutions Bharatiya Yuva Shakti Trust microfinance (MFIs) are unable – or unwilling (BYST), established a partnership – to reach vulnerable sectors of with National Bank of Baroda institutions should society excluded from finance, to enable the bank to manage partner with such as disadvantaged youth. BYST’s loan portfolio. BYST community Organisations established maintains responsibility for all to help these groups do not other aspects of its operations, organisations to necessarily have the (financial) such as selecting and improve young capacity to administer lending mentoring entrepreneurs. people’s access and borrowing functions. By The partnership takes away working with local organisations the portfolio risk from BYST to financing. that better understand the risk and increases the overall level profile of young people, financial of financing available for new institutions become able to extend business loans for young services to new sections of society. people. www.bystonline.org 6
  • 7. Government Recommendation Why? & How? Case study: In many countries, the time and Established as a public 1. National and local cost involved in registering a private partnership in the city governments should new business creates significant of Johannesburg and backed deterrents, in particular to young by public funding, Business work together to make people who lack the means or Place is an expanding business registration the confidence to persist against network of walk-in information as efficient as possible, administrative obstacles. In centres for predominantly many countries there is little young entrepreneurs across by learning from coordinated support for emerging South Africa. The branches are private sector entrepreneurs in the micro and located at accessible venues, innovations. informal business sectors. and their services are designed to stimulate local business and assist communities in reducing on their government. www.thebusinessplace.co.za Recommendation Why? & How? Case study: Traditionally, advice to young The Consortium for 2. Governments and people about the world of work Entrepreneurship Education education authorities is biased towards the benefits was established in the US should include self of working in a large company to bring entrepreneurship or within government. Often the experiences to young people employment as a benefits of supporting young through schools and viable alternative people into new enterprise are not community programmes. captured, nor the effectiveness Comprising State Boards within an overall of initiatives deployed. As the of Education, student careers advice United Nation’s World Youth organisations and others, structure. Action Plan states: “the challenge the Consortium aims to: promote is to scale up the successful entrepreneurship education aspects of [youth] initiatives.” opportunities; set national curriculum standards; and share resources to train young entrepreneurs to advance their local economies. www.entre-ed.org Recommendation Why? & How? Case study: Business networks can For a decade, Hambantota 3. Governments be valuable to businesses Youth Business Trust (HYBT) should utilise existing throughout their life cycle, had been successfully supporting but perhaps especially during young entrepreneurs at the structures, such as the start up phase. Given the district level. Recognising chambers of commerce economic, social and political the strategic importance and other business benefits of a productive young of strengthening youth population, it is in a government’s entrepreneurship in Sri Lanka, networks, to support interests to promote and support the Ceylon Chamber of Commerce the development entrepreneurship using structures – in collaboration with its of youth already in place. regional branch in Hambantota – scaled up HYBT operations entrepreneurship. and launched Youth Business Sri Lanka across the whole of the country. www.ybsl.lk 7
  • 8. Recommendation Why? & How? Case study: Business plan competitions With the support of all levels 4. Governments should have been shown to provide of government, Students in encourage schools and an effective and engaging Free Enterprise (SIFE) runs colleges to run business means to introduce a variety national and global business of business-related subjects to competitions for university plan competitions new audiences. Competitions students to develop socially that promote start-up can generate even more tangible responsible enterprises in their benefits if winners are given an communities that meet local opportunities. opportunity to turn their business need. It provides hands-on proposition into reality. insights into setting up and running a company. Many of the students involved in SIFE competitions go on to develop their own social enterprises. www.sife.org Recommendation Why? & How? Case study: Targeting investment at youth In March 2009 the Canadian 5. Governments should entrepreneurship schemes can Government invested C$10 prioritise investment in bring long-term benefits to million with the Canadian governments, both in reducing Youth Business Foundation youth entrepreneurship unemployment and other welfare (CYBF) to support young initiatives to tackle payments, and in increasing entrepreneurs, as part of its youth unemployment tax revenue. work to stimulate the national economy. and as a means to CYBF has calculated that the reduce welfare costs. businesses supported by the grant will generate C$135 million in sales revenue and C$32 million in tax revenue for the nation’s economy, through the creation of 900 new businesses and an estimated 5,000 new jobs. www.cybf.ca 8
  • 9. Civil society organisations Recommendation Why? & How? Case study: Awareness of the opportunities The Barbados Youth 1. Youth enterprise of entrepreneurship is low Business Trust (BYBT) has organisations should across many countries. Those invested in raising the profile engage in community organisations that specialise in of entrepreneurship in supporting young entrepreneurs Barbados. Through schools, outreach and have a valuable role to play in community centres, churches mobilisation to foster communicating the potential and other institutions, as well benefits of starting a business to as broadcast media, since its a culture and spirit of wider audiences. inception in 1996 BYBT has entrepreneurship. come into contact with more than 10,000 young unemployed people, introducing them to self employment as a career option. www.youthbusiness.bb Recommendation Why? & How? Case study: The combined expertise International Alert and Youth 2. Non-governmental and outreach of different Business Sri Lanka (YBSL) work organisations working organisations can have a together to assist young people transformative effect on a local to set up in business in areas in apparently different community. Even when the vulnerable to violence. areas should identify overlap of two organisations Economic and social progress and develop synergies does not seem obvious, there is not possible without peace, can be very useful collaboration and vice versa. Improving the in order to deliver more – especially in tackling the life chances of young people effective levels of complex underlying causes can make a significant impact support to young of youth unemployment and on reducing conflict and, disenfranchisement. most importantly, the causes entrepreneurs. of conflict. www.ybsl.lk / www.international-alert.org/ srilanka Recommendation Why? & How? Case study: Grassroots organisations can The Youth Volunteer Network 3. Community benefit from tapping into (VNET), established by The organisations should the resource of unemployed Hong Kong Federation of provide volunteer youth. Equally, local voluntary Youth Groups (HKFYG), experience can equip young encourages young people opportunities for young people with useful skills to to participate in voluntary people to work in the continue along the path services and to serve towards employment and their community. The community. entrepreneurship, as well as a volunteers involved are sense of commitment to their exposed to a range of different community. organisations, raising their awareness of – and preparedness for – the different work opportunities available to them later in life. www.hkfyg.org.hk 9
  • 10. Recommendation Why? & How? Case study: Many countries face a challenge Fundación Paraguaya and 4. NGOs should tailor of developing poor rural the San Francisco Agricultural vocational and life skills communities, to prevent mass High School provide a holistic training according to migration to urban centres. education in agriculture and It is therefore essential that entrepreneurship to the local community needs skills training is aimed at those children of very low-income – in particular to cater activities most appropriate and farmers in Paraguay. The relevant for current and future ‘farm school’ integrates for rural areas. enterprise in rural communities. traditional high school subjects with training in small-scale agricultural enterprises. On graduation, students have the skills to start their own rural enterprises (with a business plan and micro-loan in hand), to secure jobs in the modern agricultural sector or to attend university. www.fundacionparaguaya.org.py Recommendation Why? & How? Case study: There is an increasing demand GVEP International (Global 5. Environmental NGOs for effective environmental Village Energy Partnership) should target support projects in communities to operates a network programme address challenges such as to build the capacity of over to young people to renewable energy, access to clean 1,800 small and micro energy help them capitalise on water and waste management. enterprises in rural areas of the opportunities of the Many of these are particularly Kenya, Uganda and Tanzania. suitable for start-up businesses. Experts in energy technology, low carbon economy. Moreover, young people often business development and have a greater awareness of financing provide training, environmental issues and mentoring and access to climate change. finance to help turn low carbon initiatives into reality. This support is providing thousands of households with access to renewable energy. www.gvepinternational.org 10
  • 11. Conclusion Youth unemployment presents a significant challenge, and future forecasts demonstrate the need for an immediate, robust and coordinated response. Enterprise can provide a long-term route out of All of the members of the network operate poverty for many unemployed young people, and according to three common principles: as the recommendations set out in this report show, each sector can play its part in making i.) They support young people, typically aged entrepreneurship work. between 18-30, who have a good business idea but who cannot obtain help elsewhere; The real benefits are derived when sectors work ii.) They provide access to start-up funds in the together to create a culture of entrepreneurship, form of a loan without the need for guarantees with opportunities open to young people: or collateral; and iii). They provide young entrepreneurs with a • For young people, it helps them achieve economic volunteer business mentor and access to independence and make a valuable social business development services. contribution, and it raises their self-esteem. This approach significantly increases business • For companies, it encourages the development survival and growth – key factors in sustainable of a dynamic small business sector, boosts job creation. demand in the local economy, and strengthens community involvement. The goal of Youth Business International is to enable our network to support 100,000 new young • For society, it reduces the costs associated with entrepreneurs annually by 2020. In doing so we will youth unemployment, helps spread prosperity, have created more than one million jobs, making a and reduces youth disenfranchisement and social significant contribution to the global employment conflict. challenge. • For governments, it can reduce welfare costs and YBI was founded in the UK in 2000 and is one increase revenue, and it provides opportunities to of The Prince’s Charities, a group of not-for-profit benefit from the talent, enthusiasm and energy of organisations of which HRH The Prince of Wales the young people they serve. is President. About Youth Business International YBI’s global network is currently supporting and its global network young entrepreneurs in 40 countries across six Youth Business International is a not-for-profit continents. In 2008, the YBI Network helped nearly organisation that leads a global network of 7,000 new entrepreneurs get started in business. independent country initiatives helping young people to start their own business and create More at www.youthbusiness.org employment. 11
  • 12. The Prince’s Youth Business International The Prince’s Charities, PO Box 50473, London W8 9DN, UK T: +44 (0)20 3326 2060 F: +44 (0)20 7937 8474 E: info@youthbusiness.org www.youthbusiness.org Registered in England no. 6550164 Charity no. 1123946 Design www.re-everything.com Images Cover images show (from left to right): Juan Ramón Nuñez from Argentina, Sarala Bastian from India and Fadi Elobra from Israel – all successful young entrepreneurs who were supported by organisations within Youth Business International’s global network. All three entrepreneurs were recognised in YBI’s 2009 Entrepreneur of the Year competition. 1. ‘OECD Policy Guidance note: Employment, Promoting Pro-Poor Growth: Employment’, 2009 http://www.oecd.org/dataoecd/46/40/43573231.pdf 2. ‘Global Employment Trends - Update’, ILO, May 2009 http://www.ilo.org/wcmsp5/groups/public/---dgreports/---dcomm/documents/publication/wcms_106504.pdf 3. ‘Global Employment Trends for Youth’, ILO, October 2008, p.2 http://www.ilo.org/public/libdoc/ilo/P/09316/09316(2008).pdf 4. Ibid. 6. ‘Who Is Hit Hardest during a Financial Crisis? The Vulnerability of Young Men and Women to Unemployment in an Economic Downturn’, Sher Verick, International Labour Organization (ILO) and IZA, Discussion Paper No. 4359, August 2009, p.33 http://ftp.iza.org/dp4359.pdf 6. ‘Global Employment Trends for Youth’, ILO, October 2008, p.7 http://www.ilo.org/public/libdoc/ilo/P/09316/09316(2008).pdf 7. ‘Global Employment Trends - Update’, ILO, May 2009 http://www.ilo.org/wcmsp5/groups/public/---dgreports/---dcomm/documents/publication/wcms_106504.pdf 8. SME Statistics 2007, DBIS http://stats.berr.gov.uk/ed/sme/smestats2007-ukspr.pdf 9. Microenterprise Business State-Level Analysis, 2002-2006, The Association for Enterprise Opportunity http://www.microenterpriseworks.org/microenterpriseworks/files/ccLibraryFiles/Filename/000000001330/MEBS%205%20year%20analysis.pdf 10. The Association for Enterprise Opportunity (AEO) www.microenterpriseworks.org 11. ‘Resolutions adopted by the International Labour Conference at its 93rd Session, Geneva, June 2005’ http://www.ilo.org/public/english/standards/relm/ilc/ilc93/pdf/resolutions.pdf 12. http://www.ilo.org/public/english/employment/strat/download/getyen.pdf 13. http://www.ilo.org/public/english/region/ampro/cinterfor/news/unemploy.htm 14. http://econ.worldbank.org/WBSITE/EXTERNAL/EXTDEC/EXTRESEARCH/EXTWDRS/EXTWDR2007/0,, contentMDK:20601683~pagePK:64167702~piPK:64167676~theSitePK:1489834,00.html 12