Posts tagged ‘Nigeria’

What Can Be Done to Empower Youth Through Economic Inclusion?

At the Seventh Assembly of the World Movement for Democracy in Lima, Peru, Youngstars Foundation and Instituto Invertir organized a workshop on October 15 to ask, “What can be done to empower youth through economic inclusion?”

A well-rounded set of recommendations emerged from the workshop:

  • Promote entrepreneurship and social entrepreneurship (nonprofit sector).
  • Include youth in planning processes on economic issues at all levels. Reach out to youth to listen and build trust. Help them to articulate their issues and give them platforms.
  • Provide access to information on how to start a business, how to find a job, and what opportunities and resources are available.
  • Provide technical assistance to entrepreneurs, especially through civil society. Give them tools such as leadership, teamwork, and conflict resolution, as well as technical, management, and vocational skills.
  • Connect entrepreneurs with each other and connect different sectors that support entrepreneurs (universities, financial entities, businesses, NGOs, etc.). Share best practices.
  • Improve education policy and address structural challenges so young people will have the right skills for the job market.
  • Do not stop with training, but track the progress of participants in youth programs.
  • Support youth initiatives at the local level.

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Inside the Minds of Nigeria’s Entrepreneurs

Nigeria’s entrepreneurs are expressing a good deal of optimism, according to a recent survey by the Legatum Institute. Indeed, 82 percent of entrepreneurs believe Nigerian society has become more welcoming of entrepreneurship in the past 10 years. Download the Nigeria 2011 survey of entrepreneurs.

Some interesting facts from the survey:

  • Nigerian entrepreneurs are largely motivated by a desire to be independent (32 percent) or to make a difference (28 percent).
  • Contacts with other entrepreneurs form the single greatest source of individual desire to become an entrepreneur (30 percent).
  • In the survey, 74 percent of respondents became entrepreneurs out of choice, 23 percent out of necessity, and 3 percent are following family tradition.
  • Views of state governments’ performance are higher than views of national government performance. 73 percent reported that state government is doing a good job versus 63 percent reporting that national government is doing a good job.
  • Nationally, the most cited factor needed to achieve future growth is to clean up corruption (45 percent).

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Youth Essay 2nd Place Winner: Entrepreneurship and Society

“Entrepreneurs are much more than risk takers, they are value creators who people pay to provide solutions to their needs, they are troubleshooters who know how to make money from the issues they resolve, and every generation known to man have had their own set of entrepreneurs.”

“A major setback in the development of entrepreneurs in Nigeria is the unstable state of the political environment which directly impacts negatively on the economic policies…”

Read the 2nd place winning essay, by Etuk Anietie, in the Entrepreneurship and Society category – CIPE Youth Essay Contest 2010.

Kim Bettcher

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