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Structural reform and SMEs<br />
KEY TAKEAWAYS<br />
Many economies must find jobs for<br />
those about to enter the workforce<br />
<strong>G20</strong> Young Entrepreneurs’ Alliance<br />
represents more than 500,000 people<br />
A POWERFUL<br />
SOLUTION TO YOUTH<br />
UNEMPLOYMENT<br />
The <strong>G20</strong> Young Entrepreneurs’ Alliance forges a unique<br />
network in the quest for innovation, growth and opportunity,<br />
writes Xia Bing, Julia Deans and Alex Gill<br />
For the past several years, <strong>G20</strong> members<br />
have grappled with an increasingly<br />
troubling economic equation. Low<br />
rates of growth, high levels of youth<br />
unemployment and increasingly<br />
younger populations have combined to pose<br />
a serious question: what policies can <strong>G20</strong><br />
governments adopt to encourage<br />
growth and proactively address youth<br />
joblessness and disengagement?<br />
Policymakers recognise that<br />
this poses a significant challenge<br />
to our economies and societies.<br />
According to the International Labour<br />
Organization, youth unemployment in<br />
Canada and the United States generally<br />
runs at twice the national average, while<br />
in parts of the European Union and the Middle<br />
East, rates can range up to five to seven times<br />
the national average.<br />
Many rapidly developing economies face the<br />
challenge of finding work for large numbers of<br />
10M<br />
Jobs the <strong>G20</strong><br />
could create for<br />
young people<br />
young people who will soon enter the workforce.<br />
Across much of the Middle East, approximately<br />
half the population is under the age of 25. In India<br />
one-third of the population is under 15.<br />
The <strong>G20</strong> Young Entrepreneurs’ Alliance<br />
(<strong>G20</strong> YEA) is a unique group of nongovernmental<br />
organisations that promote<br />
youth entrepreneurship, collectively<br />
representing more than 500,000<br />
young entrepreneurs. During the past<br />
several years we have developed<br />
a powerful solution to the issues<br />
of youth unemployment and low<br />
economic growth.<br />
Following our initial discussions at<br />
the 2008 G8 Summit in Italy, our group<br />
was invited by Canada’s Prime Minister<br />
Stephen Harper to organise the first <strong>G20</strong> Young<br />
Entrepreneurs’ summit during the <strong>G20</strong> Summit he<br />
would host in Toronto in June 2010. This laid the<br />
groundwork for what would become the <strong>G20</strong> YEA.<br />
The ability of young entrepreneurs →<br />
120 <strong>G20</strong> China: The Hangzhou Summit • September 2016 G7<strong>G20</strong>.com
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