Youth Business, Is It Potential To Run? – Marketing is revolutionary in publishing profits. Youth entrepreneurship creates good jobs for young people, strengthens communities and promotes inclusive economic growth, but for too many young people, entrepreneurship is out of reach.
Together with our members, we equip disadvantaged youth to develop the skills, confidence and relationships they need to overcome adversity and become successful entrepreneurs.
Youth Business, Is It Potential To Run?
We develop programs and resources specifically for youth, recognizing the difference this can make in the sustainability and growth of youth-led businesses.
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Youth are critical to inclusive and sustainable economic growth. However, with 66 million youth unemployed worldwide today, this opportunity is not being realized. Also, most of those who work do not earn enough to lift themselves out of poverty.
Addressing youth employment issues is essential not only for youth well-being, but also for sustainable and inclusive growth and global social inclusion. One solution is to help young people succeed in self-employment. Young entrepreneurs create new jobs and shape the local economy. Leadership skills can help young people overcome the challenges of today’s rapidly changing job market.
Since 2014, we have supported 239,584 young people to start or develop businesses, offering a range of business support services from training and mentoring to funding and other business development services.
We sit at the center of a global network of business support organizations that are emerging regional leaders in youth entrepreneurship. We are a platform for members to share ideas, knowledge and insights, inspire entrepreneurial success and work together to increase impact.
Opportunity Cafe Infograph (2)
Together with our partners, we foster a culture of collaboration, share best practices and drive innovation to achieve impact at scale.
Our members have extensive experience in all areas of youth business support services. We provide hard and soft skills and other capacity building support, facilitate member transfers and connect members with partners with relevant expertise.
By bringing together the collective experience of the network, we have a unique perspective on the business environment so that we can identify gaps to support young entrepreneurs not only in the market, but around the world. We work with members around the world to develop new solutions using this concept.
As a global network, we are uniquely positioned as a leading authority on youth entrepreneurship to address the lack of robust evidence on youth entrepreneurship. We use training to gather evidence with our members and make necessary changes to policy and practice.
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Members around the world provide financial and non-financial support to help young entrepreneurs become business leaders and start and grow sustainable businesses.
YBI members work with young entrepreneurs, equipping them with the soft and hard skills and tools they need to thrive.
In times of change, transformation, uncertainty and challenges, mentoring has become a resource for young entrepreneurs and entrepreneurs. Members pair young entrepreneurs with experienced volunteer business mentors to guide them through the difficult process of starting a business.
YBI members can provide interest-free/low-interest loans to young entrepreneurs to cover start-up or development costs, or connect them with financiers who can provide products and services.-Ancillary fees.
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From specialized business training to basic financial and accounting assistance for young entrepreneurs.
YBI members use a variety of digital tools to enable their work, develop skills in preparing and distributing digital forms, develop their knowledge and work with the EU to develop their ability to use digital tools and procedures to carry out their work.
Our mission is to turn great ideas into successful businesses, regardless of their circumstances, and to recognize that youth entrepreneurship drives sustainable economic growth, creates jobs and strengthens communities around the world.
When youth become entrepreneurs, they create income, employment and economic growth. However, for many young people, starting a career can seem impossible, isolating and out of reach. Our work focuses on empowering disadvantaged youth to develop the skills, confidence and connections they need to overcome challenges and become successful entrepreneurs.
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Our goal: Between 2017 and 2025, YBI will help one million young people start, strengthen and develop sustainable businesses. Home / Themes and Sectors / Actions and Partnerships / Youth Work in Africa / Youth Entrepreneurship and Innovation Multi-Donor Trust Fund
The Baby Grubs team outside their factory in Lagos, Nigeria. Seun Sangolei (center in pink) won first place in the Women’s Development category at the Bank’s Agripitch 2020 competition.
The Youth Entrepreneurship and Innovation Multi-Donor Trust Fund, managed by the African Development Bank, is an initiative to support the African economic environment. Launched in November 2017, the fund equips youth and women-run start-ups, as well as micro, small and medium enterprises, with financing and banking to help create sustainable employment opportunities for young Africans. In doing so, the trust fund contributes to the bank’s top 5 strategic priorities.
The Youth Entrepreneurship and Innovation Multi-Donor Trust Fund contributes to the implementation of the Africa Bank Youth Business Strategy. The strategy aims to create 25 million jobs, train 50 million youth and increase employment and business success by 2025. The Bank’s Human Capital, Youth and Skills Development Department manages and brings together the fund’s donors and partners. Bank’s achievements in participating in youth activities in the region.
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In 2017, the first donations came from Denmark and Norway. In 2018, the Fund welcomed the governments of Sweden, the Netherlands, and Italy as additional donors, totaling approximately $40 million. The initial life of the fund is from 2017 to 2025.
About 62% of Africa’s population was under the age of 25 in 2019. Although this population is expected to decline slightly to 59% by 2030 and 52% by 2050, this demographic remains dynamic. And growing inequality is being addressed. The United Nations Population Fund estimates that if sub-Saharan Africa invests in human capital, the continent’s gross domestic product could increase by $500 billion a year over 30 years.
The bank said Africa needs to create 20 million jobs a year by 2030 to maintain current unemployment rates. Although economic growth in Africa is strong, inclusive economic transformation needs to be promoted.
Representing 95% of all businesses and creating 80% of employment in Africa, micro, small and medium enterprises are a powerful vehicle for growth in youth unemployment. Youth entrepreneurs are an important part of small and medium enterprises. According to the World Bank, young people work alongside their peers and are often active in high-level fields. With the right education, skills, mentoring, resources and policies, youth-led businesses can grow the economy and create jobs.
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The Youth Entrepreneurship and Innovation Multi-Donor Trust Fund aims to support business support, financing, training and innovation that fosters the growth of new enterprises created and led by young Africans.
To increase entrepreneurial opportunities and entrepreneurial outcomes for young people, funding from the Youth Entrepreneurship and Innovation Multi-Donor Trust Fund will enable the African Development Bank to acquire specialized skills during project development. These resources can also be used to promote innovative and evidence-based programs that support youth and women-led micro, small and medium enterprises in the broader banking sector. The Fund also provides technical assistance to countries to strengthen policy and legislative reforms that improve youth employment, skills and employment opportunities, including support for small, small and medium enterprises and private sector development.
The Youth Entrepreneurship and Innovation Multi-Donor Trust Fund supports projects in low-income countries, fragile states and countries with economic migration hotspots. Currently, the target countries are Ghana, Togo, Mali, Nigeria, Guinea, Zimbabwe, Malawi, Kenya, Uganda, Tanzania and Rwanda.
Access to finance is one of the major barriers preventing youth-led SMEs from growing their businesses. These SMEs are unable to receive funding due to their inadequacy, inability to present a proper business plan, financial statements and reports. The Youth Entrepreneurship and Innovation Multi-Donor Trust Fund is partnering with the Africa Guarantee Fund to address issues related to the impact and financial readiness of youth-led businesses across the larger value chain. In various business sectors, 400 SMEs will receive training in various business sectors and 200 SMEs will receive mentoring support. The scheme aims to link at least 40 of the proposed SMEs with government institutions to strengthen financing for new and/or emerging businesses.
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The fund supports the bank’s internal departments by providing training and guidance
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