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

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successfully launching a new enterprise-however small - is a process of innovation." (OECD,2001).Chigunta (2002) sums up a number of reasons for the importance of promoting youthentrepreneurship:Creating employment opportunities for self-employed youth as well as the other youngpeople they employ;Bringing alienated and marginalized youth back into the economic mainstream and givingthem a sense of meaning and belonging;Helping address some of the socio-psychological problems and delinquency that arisesfrom joblessness;Helping youth develop new skills and experiences that can then be applied to otherchallenges in life;Promoting innovation and resilience in youth;Promoting the revitalization of the local community by providing valuable goods andservices;Capitalizing on the fact that young entrepreneurs may be particularly responsive to neweconomic opportunities and trends.(Pg. V)Entrepreneurship and self-employment can be a source of new jobs and economic dynamism indeveloped countries, and can improve youth livelihoods and economic independence indeveloping countries. For young people in the informal economy, micro entrepreneurism is abottom-up method for generating income, self-reliance and a new innovative path to earning aliving and caring for oneself (Ulrich, 2006).22
The Consortium for Youth Entrepreneurship Education notes: "Effective youth entrepreneurshipeducation prepares young people to be responsible, enterprising individuals who becomeentrepreneurs or entrepreneurial thinkers and contribute to economic development and sustainablecommunities". It follows, therefore, that policies to promote youth entrepreneurship need not beseen as a departure from the broad policy orientation needed in any case. As the OECD report(2000) observes, programmes to train young men and women for self-employment and helpingthem to achieve it can enhance what must be done to attack youth unemployment in general. Thisis based on the recognition that not all young people can become entrepreneurs in a businesssense. Enterprise skills can, therefore help youth adapt well to other non-entrepreneurial careers.With this situation, promotion of youth enterprise and youth entrepreneurship in particularis vital. The relevance of promoting youth entrepreneurship should also be seen in the context ofimproving social attitudes towards entrepreneurship.Given the growing importance of self-employment as a means of creating new jobs andeconomic dynamism in a developing country like Nigeria, there is need to tap the potential ofentrepreneurship as a source of youth development, employment creation and economicempowerment.2.5 The Specific Needs of Youth in EntrepreneurshipYouth attempting entrepreneurial activity have specific needs divergent from the generalpopulation. Some needs in these two groups are identical, such as financing, but each areapresents its own unique challenges. For example, youth do not often have collateral for a loan,making it difficult to obtain financing from an official institution. The three major factorsaffecting youth employment and entrepreneurship are job/employment creation (aggregate23
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 16 and 17: loans due to the high interest rate
Page 18 and 19: Gambia and Nigeria in West Africa,
Page 20 and 21: Two are highlighted here as the mos
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
Page 66 and 67: Project Objective One: Improvements
Page 68 and 69: 5.0 Monitoring and Evaluation5.1 In
Page 70 and 71: 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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