YOUTH
IN ENTREPRENEURHIP
Entrepreneurship as a factor of production is the
decision making, risk-taking entity as far as economics is concerned.
Entrepreneurship gave birth to the private sector of a country’s economy. For
this reason, many private businesses have sprung up to increase the
productivity of countries the world over.
The youth which forms the largest percentage of the
population of countries is being encouraged to undertake entrepreneurial
activities so as to employ themselves and others. This is an effort to
complement the efforts of governments since the population of the youth is so
teeming that its employment by the government becomes only but a wish.
Youth in entrepreneurship could be of so much
advantage to their countries in so many ways such as creation of job
opportunities, increase in revenue for government, reduction in crime wave –
armed robbery, enhancement of economic development, etc.
Young entrepreneurs could have the best plans to
implement their dreams to inure to the advantage of the society but some few
challenges that they might encounter could dash their hopes. Some of which
include;
Ø difficulty
in accessing seed capital to start with,
Ø the
fear of encountering failures and defeats in business,
Ø Discouragement
by the society due to a disbelief in people’s business ideas, etc.
However, the fears of young entrepreneurs could be
allayed through the following ways:
Ø Government
setting up a youth enterprise fund that is accessible by young entrepreneurs devoid
of political consideration.
Ø The
readiness of commercial banks to grant loans to young entrepreneurs who have
excellent business ideas which are equally feasible, all things being equal.
Ø The
young entrepreneurs should also be able to translate their business ideas to
convince stakeholders to invest their in businesses by writing convincing and
feasible business plans and proposal
In conclusion, it is my hope that the youth could be
supported to make their dreams come true if the above difficulties of young
entrepreneurs and suggestions are juxtaposed to yield results that would be of
immense benefits to the country at large.
WRTTEN BY:
DANAA ABDUL MAJEED,
C.E.O OF EMIR DANAA FARM [EDF].
