Initiatives like market day back in primary and secondary education planted a seed of a world full of endless entrepreneurial skills. Perhaps at that point, we did it out of obligation (just like we did other extra-curricular activities).
However, with the economy weakening every day, even those with other qualifications are venturing into the world of entrepreneurship. Finally, the seed is germinating. Many young people are taking on entrepreneurship opportunities.
Why is entrepreneurship important amongst the youth?
Of course, we all might have the same answer for that, times are tough, and we need the money. But entrepreneurship is much more than just making money. In all honesty, there is no guarantee that whatever business you start will make profit.
- Curb employment- Recession has cost a lot of young people off chances of making it in their respective job industries. Some had to pause their on-training because companies do not have the resources to keep them. Most have had to take on being young entrepreneurs, learning as they go, while earning a living.
- Promotes independence- Instead of being dependent to formal jobs, relatives or the government, young entrepreneurs can earn their living.
- Equips the youth with skills to use in future- Being involved in entrepreneurship gives the youth knowledge they can use in future. Important skills like teamwork, teamwork, networking, problem-solving, critical thinking, innovation, self-discipline, etc. All these skills can help in later in life.
What challenges do young entrepreneurs face?
Passion is the driving force of the youth that wishes or working toward their business ventures and ideas. However, fact is that younger entrepreneurs do face some unique challenges in the world of business.
- Juggling work and school
- Lack of start-up capital/funds
- Lack of fundamental business skills
- No experience in leadership and management
- Limited network and connections.
Despite facing challenges, many of us are going to at one point, try out something business related. Some will be doing it to put food in the table while some are the winners of market day who have always lived to cease any business opportunities. That is why it is important to stay resilient and patient.
The government and other entities have in place initiatives that look to help the youth navigate the business world. By providing resources to young people giving them a chance at succeeding in business creating a better economic growth.
Ehlanzeni offers courses in Management. This helps build a clear vision for young entrepreneurs and gain management skills to use to their advantage in future.