In an attempt to develop economies, stem youth unemployment and youth poverty and create wealth among youth, several organizations and countries have adapted the concept and philosophy of youth entrepreneurship development. In order to realise greater employment opportunities, the dynamism of the SMEs sector and a higher level of entrepreneurship must be stimulated in the country.
The methodology of youth entrepreneurship development is focused on building a culture of entrepreneurship among a nation’s youth by encouraging, nurturing and socializing young men and young women into recognizing entrepreneurship as a viable career choice and assisting them with the necessary tools to start and grow sustainable business ventures.
We cannot, however, be complacent as we still have a lot of work to do to ensure that our youth population does not become a burden rather than a builder of our societies. We must realize that poor employment opportunities in a young person’s early career can harm job prospects for life. Collectively, we must take our responsibilities seriously to help ensure that the economic investments, which we make in training and education, are not wasted. If we are honest, we will acknowledge that this is what will happen if young people are not given the opportunities to move into productive and decent jobs which will enable them to pay taxes and support public services.
There is ample justification to undertake a project to promote “Developing Ethical Culture and Fostering Corporate Entrepreneurial Practice among Youth”. The government has prioritised youth enterprise development and competitiveness in that significant strides have been made towards the unleashing and sustaining of the entrepreneurial spirit in our youth. It has been proven that youth entrepreneurship development in any given country can assist with individual, social, and national development, while providing young men and young women with decent and productive work.
As one of the Millennium Development Goals of the United Nations, developing and implementing strategies for decent and productive work for youth has become a major challenge for global communities, which include governments, employer’s and worker’s organizations and civil society. Thus many countries by 2015 have agreed to halve poverty, which includes youth poverty, brought about by lack of employment. Countries are therefore being encouraged to utilize the tool of youth entrepreneurship development, which has become one way of increasing youth employment, alleviating the vicious cycle of poverty and social exclusion.