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

On how to improve regulatory barriers, most respondents raised issues like, high cost of businessregistration should be reduced for youth, and youth should be sensitized more on regulatoryissues. They talked about the complexities of accessing government regulatory processes and thisshould be made easier knowing fully well that youth are impatient. Some also want an enablingenvironment should be provided for youth to run their businesses and some need government toconduct a public hearing where youth are invited to speak their mind on issues affecting theirdislike on regulatory frameworks.3.8.5 Business Development Support Received:# Answer Response %1 Yes 13 65%2 No 7 35%Total 20 100%Figure 27: Business Development supportSixty five percent of the respondents have received some form of business development supportservices, while 35% have not benefitted. Business development support services ranges from startup training and business expansion counseling services. Those that responded on this aspect arethose presently undergoing entrepreneurship development training which is being provided byEntrepreneurship development Center; the host organization of the project. And the training theyhave received has helped to re-shape their minds to be more creative as well learnt how to dothings differently. The respondents also stated that courses like goal setting, marketing, customerservices, and financial plan e.t.c3.8.6 Experiences regarding access to start-up financing:# Answer Response %1 Very Easy 2 11%2 Easy 2 11%3Unfavorable Views of lendinginstitutions on young people9 47%4 Neutral 3 16%56Somewhat Difficult because I don'thave collateralDifficult because I don't havecollateralVery Difficult because I don't have7collateralFigure 28: Experience with Microfinance1 5%4 21%3 16%51