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

insecurity- low development. Power is certainly a way to stimulate this economy. There is also aneed for government to have incubation centers that will support youth entrepreneurship.Business incubators have become a powerful tool for supporting the entrepreneurial process andfor helping to increase survival rates for young innovative start-up companies. Besides theprovision of physical working space, incubators often provide a huge range of resources andservices (management coaching, business plan preparation, administrative services, technicalsupport, business networking, advice on intellectual property and sources of financing) for alimited time period (around 3-5 years). Business incubators can be found in very different formsand can be private, public or based on a Public-Private-Partnership (PPP) initiative involvingmany partners at national, regional and local levels (business angels, banks, regional and nationalgovernment agencies).2.7.7 Key Administrative and Policies Burdens on Youth:Particularly in those countries currently lacking explicit policies on youth, there is urgentneed to design compressive national youth policies that indicate the directions a country intendsto go in the development of its young people. Significantly, such policies should be properlyintegrated with key macro and sectoral policies in order to avoid treating youth livelihoods andentrepreneurship as an isolated activity. Today, entrepreneurs in Nigeria face numerousadministrative burdens including among others, businesses registration, tax administration,obtaining investment approvals and business licenses, coping with copyright and patentregulations, competition law, access to work space and long-term leases, construction andbuilding permits, customs clearances, utility hook-ups. And most times young people do not have33