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

This study targeted both the employed and the unemployed youth. And from their response thatwas gathered, 36.32% were unemployed which is a combination of temporarily unemployed andnot employed at all. About 42.1% were operating their own businesses in a micro level. Youthunemployment is an immense waste of human resources that could contribute to economic andsocial progress. An increase in youth employment would have multiplier effects throughout theeconomy, boosting consumer demand and adding tax revenue.Decent work can also shift young people from social dependence to self-sufficiency and helpsthem escape poverty. Last but not least it gives young people a sense of meaning and belongingand a perspective in fulfilling their aspirations and dreams. Those who has businesses are intosupply of paints and textiles, communication, beads making, poultry, laundry, fishery, eventmanagement, beauty and fashion, sand and gravel3.6.6 Formal Education:# Answer Response %0 some high school or less 0 0%1 graduated from high school 4 22%2 some college or technical school 0 0%3graduated from community collegeor technical school1 6%4 graduated from four-year college 12 67%5 post-graduate 1 6%Total 18 100%Figure 9: Formal EducationThe literacy level is quite high among the respondents and most of them complained thatentrepreneurship was not introduced to them while they were in school. 67% of the respondentsare High school graduates, 22% only succeeded in getting high education, 6% from a technicalcollege and only 6% has gone beyond College. Everyone should have the opportunity to become‗business literate‘ by the time they leave full time education. But primarily, fundamentally and attheir very heart they need to be enterprising, creative, innovative, bold and self confident – andthis might have little or nothing to do with entrepreneurship and business literacy.Thus entrepreneurship education is not only a means to foster youth entrepreneurship and selfemploymentbut at the same time to equip young people with the attitudes (e.g. more personalresponsibility) and skills (e.g. flexibility and creativity), necessary to cope with the uncertainemployment paths of today‘s societiesEducation helps to arm young people with an understanding of and some of the skills necessaryfor entrepreneurship3.6.7 How to make educational system more supportive for young entrepreneursMore than 90% of the youth responded that schools should introduce business seminars and moreemphasis should be placed on entrepreneurship courses. And also Students should be exposed to42