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

More documents

Recommendations

Info

The response here is very diverse. 11% of the youth responded by saying that accessing start upfinancing is easy and the highest respondents which are about 47 % claimed that most lendingorganizations have unfavorable perception about youth and therefore are not comfortable givingloans to youth. 42 % of the youth said getting loans are either difficult or very difficult because oflack of collateral. And those who failed to respond could be as a result of lack of awareness onmicro-credit issues.3.8.7 What measures could improve the access to finance for young entrepreneurs:Majority of the respondents said that government should create or develop a flexible youth centricloan program that would help aspiring youth entrepreneurs to start a business or expand anexisting one. Other respondents also agree to the fact that youth should start saving and loanassociation in order to qualify to access loan from commercial banks. Others also said that theenvironment should be made more conducive for Micro credit to thrive, and youth should beexposed on how to manage and access loan. In summary the policy framework should bereviewed so as to bring youth perspective into the real picture.3.8.8 The role of Government supported program:Most of the youth indicated that they have benefitted from government assisted programme. Thechallenge for our governments, NGOs and international bodies that seek to improve youthlivelihoods is to tap into the dynamism of young people and build on their strong spirit of wishingto go into self-employment. At the moment, there is no serious attempt on the part of governmentand other institutions to support enterprise development programmes for youth, especially thoseworking in the informal sector.There are some relatively successful initiatives and home-grown solutions conceived anddeveloped by Nigerians, including youth, to try and address the problems facing youthentrepreneurship. The existing programmes or initiatives can be broadly divided into thefollowingTraining programmesEmployment and livelihood programmes-finance schemesDespite some successes, the evidence from what they respondents said also points to the failure ofmany youth projects across Nigeria because they are not well coordinated or they duplicate effortsor they don‘t address youth issues holistically.The CNA report has shown that promoting youth entrepreneurship requires differentlevels of intervention and approach. All the respondents stated that Social/ Cultural attitudetowards (youth) entrepreneurship, Government regulations, Education, skills and training and52
Business support (& physical infrastructure) are their most common challenges or constraintswhile placing access to finance as second priority. Tackling this issue requires multi-dimensionaland holistic approach and strategies. The result of the CNA has shown that Micro credit alone isnot the only panacea to youth entrepreneurship, but it‘s among other factors that encouragedyouth to engage in entrepreneurship. This report also established the fact that entrepreneurshipeducation and awareness creation are two integral factors that play a key role in promoting youthentrepreneurship. This report has assisted in re-shaping the earlier notion and perception aboutthis project and has help in channeling all resources based on the findings in order to solve theproblem in a more sustainable approach. Enterprise education provides a considerable addedvalue in many ways. It raises awareness and familiarizes young people with entrepreneurship as avaluable career path; it promotes positive attitudes towards entrepreneurship and thus a higheracceptance and legitimacy in society in the long run. It also provides pupils and students withentrepreneurial skills; attributes and behaviors have a positive effect on a young person‘s decisionto engage in entrepreneurial activity. Thus it increases the number of so-called ―Preentrepreneurs‖(potential or would-be entrepreneurs). Enterprise education interventions thereforehave probably the biggest impact on the generation of potential future young entrepreneurs.Furthermore, it can be expected that a successful enterprise education will create further demandsin other areas outside the school (finance, regulations, BAS and BDS), that can lead to furtherinitiatives and support programmes, catered to the specific needs of young people andentrepreneurs.3.7 Stakeholder AnalysisThe stakeholder analysis as part of the social baseline activities is critical in identifying thevarious parties who may have an interest in the project or who may be affected by the project insmall or major ways. The stakeholder analysis will enable a broader range of perspectives to beheard and understood and will contribute to a better understanding of the social relationshipsbetween various groups.It is necessary to determine who will be the most or least impacted by the project and whois at higher or lower risk of negative impacts.• It is needed to develop an effective and social action plan that includes mitigationmeasures.53
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 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 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
Page 72 and 73: There was a reported percentage inc
Page 74 and 75: 5.4 Evaluation5.4.1 Conceptual Fram
Page 76 and 77: awareness on youth entrepreneurship
Page 78 and 79: processes, knowledge practices (i.e
Page 80 and 81: are efficient. We hypothesized that
Page 82 and 83: elationship with the income level.
Page 84 and 85: 6.0 Sustainability PlansThe sustain
Page 86 and 87: 7.0 Lesson Learnt7.1 RelevanceThis
Page 88 and 89: 8.0 RECOMMENDATIONSThe findings sug
Page 90 and 91: and are passionate to start busines
Page 92 and 93: 9.0 REFERENCES:Australia Government
Page 94 and 95: United Nations. (2007, December 18)
Page 96 and 97: MFI (Stakeholder)for the youthThey
Page 98 and 99: Appendix 10.3: Detailed BudgetS/N E
Page 100 and 101: Percentageincrease inincome levelof
Page 102 and 103:
dataPercentageincrease inYouth-rune
Page 104 and 105:
entServicesandCounselingyouthreceiv
Page 106 and 107:
Appendix 10. 7: Community Needs Ass
Page 108 and 109:
4. Starting date: _________________
Page 110 and 111:
13. In your opinion, what measures
Page 112 and 113:
13.1 Other regulative barriers: The
Page 114 and 115:
……………………………
Page 116 and 117:
to seek the challenge (to compete w
Page 118 and 119:
8. Workload:I am afraid of not bein
Page 120 and 121:
What have been the major impediment
Page 122 and 123:
Appendix 10. 8: Socio -Economic Sur
Page 124 and 125:
Appendix 10. 9: Business Advisory a
Page 126 and 127:
___________________________________
Page 128 and 129:
Description Strengths Weaknesses Im
Page 130 and 131:
Appendix 10.0: Stakeholder Analysis
show all

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

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?