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

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