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

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ABSTRACTYouth unemployment has become the biggest developmental challenge in almost every country inthe world including Nigeria. The reason is not far-fetched: the government‘s lack of political willto develop programmes that would empower youth. The goal of this project is to provide youthwith the needed entrepreneurial skills and information through training, counseling, awarenessand business advisory services to start and sustain their businesses. This would lead to an increasein income, more sustainable enterprises; gainful employment and increased self esteem. In thispaper, we test the best approach; discuss successful promoters of youth entrepreneurship and theway forward.8
1.0 PROBLEM STATEMENTThe impact of the global financial crisis is so deep that job opportunities are now a challenge andwe have to live within the context of this new reality. Nigeria is a mono-economy country andthe mainstay of the Nigerian Economy is crude oil and since the financial crisis, the price of oilhas been dropping .This is affecting the revenue potential of the nation and as a result there isretrenchment everywhere in the civil service, banking and manufacturing. There is no possibilityof going abroad as companies are equally retrenching massively and their citizens are protestingagainst the employment of foreigners even for cheapness of labour.Youth unemployment has become the biggest developmental challenge in almost everycountry in the world in the 21st century. According to International Labor Organization (ILO)estimates, 60 million young people are searching for work but cannot find any. Around the world,youth are nearly three times as likely to be unemployed as adults. Eighty percent of the young joblessare in the developing countries and economies in transition. In all developing countries across theworld, youth unemployment is growing annually at more than 15 percent. Many countries are stillstruggling to boost their economic growth in order to provide jobs for all the youths entering thejob market each year (ILO, 2008).Government efforts to mitigate the unemployment problem by creating job opportunitiesthrough planned programmes both in private and public sectors have not touched even the tip ofthe iceberg. Some countries still depend on the injection of external investment funds and externalexpertise to transform their economy into a fast growing one. However, without entrepreneurialcapabilities which are well developed or potentially available, external funds will be wasted onprojects that will not provide long-term economic growth. The present educational system in9
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: ACKNOWLEDGEMENTThis dissertation co
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
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Page 50 and 51: 3.8.3 Important de-motivating facto
Page 52 and 53: The response here is very diverse.
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emerged ( morecreative, less riskav
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selection process1.0 Stakeholdersse
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4.4.2 Implementation ReportThe proj
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4.4.5 Group Formation:This activity
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Project Objective One: Improvements
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5.0 Monitoring and Evaluation5.1 In
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5.3 MonitoringThis project aimed at
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There was a reported percentage inc
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5.4 Evaluation5.4.1 Conceptual Fram
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awareness on youth entrepreneurship
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processes, knowledge practices (i.e
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are efficient. We hypothesized that
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elationship with the income level.
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6.0 Sustainability PlansThe sustain
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7.0 Lesson Learnt7.1 RelevanceThis
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8.0 RECOMMENDATIONSThe findings sug
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and are passionate to start busines
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9.0 REFERENCES:Australia Government
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United Nations. (2007, December 18)
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MFI (Stakeholder)for the youthThey
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Appendix 10.3: Detailed BudgetS/N E
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Percentageincrease inincome levelof
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dataPercentageincrease inYouth-rune
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entServicesandCounselingyouthreceiv
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Appendix 10. 7: Community Needs Ass
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4. Starting date: _________________
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13. In your opinion, what measures
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13.1 Other regulative barriers: The
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……………………………
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to seek the challenge (to compete w
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8. Workload:I am afraid of not bein
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What have been the major impediment
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Appendix 10. 8: Socio -Economic Sur
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Appendix 10. 9: Business Advisory a
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___________________________________
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Description Strengths Weaknesses Im
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Appendix 10.0: Stakeholder Analysis
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