Promoting youth entrepreneurship in Lagos, Nigeria - SNHU ...

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loans due to the high interest rate. For example, the lowest annual interest rate charged in Nigeria,is about sixty to seventy two percent (5-6 percent on monthly basis) (Central Bank of Nigeria,2009).Research shows that youth are in a unique place in life, as they are developing theirdecision making skills, continuing to learn, entering the labor force, cultivating character and ahealthy lifestyle, and learning to exercise their leadership. The true development of human capitalcomes through broadening opportunities for youth. Youth will become the decision-makingchange agents capable of entering an extremely economically driven global society. Indisputably,youth have a great potential, if empowered, to contribute to their societies.2.2 Holistic Needs of Youth:Youth have different emotional, physical, spiritual, social, and economic needs thanadults, implying that programs for youth must specifically help them deal with their day-to-daychallenges. Youth will not respond optimally to an entrepreneurship program if their specificneeds are not met. Instead of simply focusing on providing one service, youth programmers mustlook at all the needs of youth to ensure a holistic program is being provided. If youth receivequality resources and skills in the crucial growth stage, they have a better chance of becomingpositive, contributing members of society (Making, 1999). The Central Bank of Nigeria ownedEntrepreneurship Development Centre Lagos provides young people with needed capacity to startand manage a business, but their mandate is to train the youth and not to provide them with startupfinance. Since training alone cannot solve the unemployment situation among youth, theyyouth have lost interest in their training program. In order to provide this critical resources andskills, youth programs must be equipped with a holistically informed framework, one which gives16
appropriate consideration to every facet of a youth‘s developmental stages as had beenhighlighted above (Entwistle, 2008).There are some internal development factors which areunique to youth life cycles. These factors provide the framework to further understand the factorsthat impact the livelihood capabilities of youth. Factors such as socio-cultural, bio-neurological,socio-emotional and biological needs have to be well addressed in order to better understand theneeds of youth.Each of these developmental dimensions are relevant to the development of livelihoodcapabilities that can have a bearing on a young person‘s ability to conceive, plan and implementthe range of attitudes, actions, activities and relationships necessary for self-employment orenterprise development. All of these factors are also relevant to a comprehensive ―youth lifecycle‖analysis in terms of developing enterprise and entrepreneurial capabilities. These aspectsof development mark a clear distinction between the kinds of livelihood and enterprise supportinitiatives needed to assist young people as compared to adult programming.In South Africa, several initiatives have been introduced to promote entrepreneurshipamong high school students. Examples include the Education with Enterprise Trust (EWET),which runs two schemes: the Youth Enterprise Society (YES) for secondary schools and BusinessNow for out-of-school youth (Chigunta, 2002 pg 11). Another initiative called the Centre forOpportunity Development provides a structured training and experiential developmentprogramme for youth with aspirations towards starting their own businesses. In contrast,educational reforms in countries like Zambia and Malawi are mainly aimed at improvingeducational standards, especially in primary schools (Chigunta,2002.Elsewhere in Africa, theemergence of a discourse on ‗youth livelihoods and entrepreneurship‘ in recent years has led tothe introduction of Entrepreneurial Skills Development Programmes (ESDP) in countries like17
Page 1 and 2: Promoting Youth Entrepreneurshipin
Page 3 and 4: 3.6 CNA Results: ..................
Page 5 and 6: List of TablesTable 1: Logical fram
Page 7 and 8: ACKNOWLEDGEMENTThis dissertation co
Page 9 and 10: 1.0 PROBLEM STATEMENTThe impact of
Page 12 and 13: During the early years of independe
Page 14 and 15: The main purpose of this literature
Page 18 and 19: Gambia and Nigeria in West Africa,
Page 20 and 21: Two are highlighted here as the mos
Page 22 and 23: successfully launching a new enterp
Page 24 and 25: demand economic growth including ma
Page 26 and 27: skills training to young men and wo
Page 28 and 29: Treating youth as ‗clients‘ and
Page 30 and 31: students‘ personal environment (p
Page 32 and 33: children to go into businesses. The
Page 34 and 35: the experience to know all these re
Page 36 and 37: 3.0 COMMUNITY NEEDS ASSESSMENT REPO
Page 38 and 39: forms which cover areas such as mot
Page 40 and 41: fashion, poultry, fish farming, tra
Page 42 and 43: This study targeted both the employ
Page 44 and 45: Total 20 100%Figure 12: Type of fam
Page 46 and 47: Majority of the respondents are ope
Page 48 and 49: Figure 21: Factors the influences e
Page 50 and 51: 3.8.3 Important de-motivating facto
Page 52 and 53: The response here is very diverse.
Page 54 and 55: • It is helps to determine the ne
Page 56 and 57: 4.0 Project Description4.1 Host Org
Page 58 and 59: emerged ( morecreative, less riskav
Page 60 and 61: selection process1.0 Stakeholdersse
Page 62 and 63: 4.4.2 Implementation ReportThe proj
Page 64 and 65: 4.4.5 Group Formation:This activity
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Project Objective One: Improvements
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5.0 Monitoring and Evaluation5.1 In
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5.3 MonitoringThis project aimed at
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There was a reported percentage inc
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5.4 Evaluation5.4.1 Conceptual Fram
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awareness on youth entrepreneurship
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processes, knowledge practices (i.e
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are efficient. We hypothesized that
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elationship with the income level.
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6.0 Sustainability PlansThe sustain
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7.0 Lesson Learnt7.1 RelevanceThis
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8.0 RECOMMENDATIONSThe findings sug
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and are passionate to start busines
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9.0 REFERENCES:Australia Government
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United Nations. (2007, December 18)
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MFI (Stakeholder)for the youthThey
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Appendix 10.3: Detailed BudgetS/N E
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Percentageincrease inincome levelof
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dataPercentageincrease inYouth-rune
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entServicesandCounselingyouthreceiv
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Appendix 10. 7: Community Needs Ass
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4. Starting date: _________________
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13. In your opinion, what measures
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13.1 Other regulative barriers: The
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……………………………
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to seek the challenge (to compete w
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8. Workload:I am afraid of not bein
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What have been the major impediment
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Appendix 10. 8: Socio -Economic Sur
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Appendix 10. 9: Business Advisory a
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___________________________________
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Description Strengths Weaknesses Im
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Appendix 10.0: Stakeholder Analysis
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