YOUTH ENTREPRENEURSHIP - Final Part - Agnes Ama Afful


Funding can go through local governments to support businesses in localities. Alternatively, the government can support existing non-profit organizations in youth development. Some of these organizations have business hubs and incubators that work and train young businesses. With government support, these hubs could extend their services to many more people and support them till they grow into big brands.

Lastly, there is a need to develop learning programmes that strengthen the skills and expertise of young people in entrepreneurship. According to Cova Advisory in South Africa, five out of seven businesses fail within their first year of operation. (Business Tech, 2021).  Some reasons for these failures include lack of understanding of running a business, undefined business goals and values, lack of adequate planning, inability to build reliable teams, and many more. Thus, there is a need for proper briefing and preparation for young people before they venture into entrepreneurship.

To conclude, we believe that the growth of businesses in a country ties into increasing GDP. Thus, governments need to do more groundwork than simply suggesting entrepreneurship as the next best alternative.