Youth entepreneurship

Nardos Bekele-Thomas writes
"We need to be more critical in our thinking on the interventions we make on youth entrepreneurship if we are to effectively and sustainably improve the livelihoods of millions of people. While the term entrepreneurship is coined strongly in business terminology and dynamics, it is critical to realize that in most developing countries, the stronger concern is meeting some basic needs like access to water, energy and health. It thus becomes critical for youth entrepreneurship to mould itself in forms of social entrepreneurship. If young people decide to drill a borehole to provide water for a community at affordable prices for example, this goes a long way in improving their standard of living and the livelihood for this community. It would be much cheaper than a water company making this provision and at the same time it improves the livelihood for the youth who have drilled the borehole. Most critical is the importance of water to the basic needs in this community which represents a response to the market. Another example could be the preparation of solar panels for areas that do not have electricity.

Through social entrepreneurship, young people can provide alternatives to help reach the MGDs. They can start small businesses aimed at providing access to key services to the people at the ‘bottom of the pyramid’ such as water, energy and ICT. Having business support such initiatives is invaluable. Business must do more than merely exploiting markets. It must play a role in cultivating these markets to ensure sustainability. This is the ‘Win-Win’ situation that in my view developing countries require. Partnerships which respond to the real needs on the ground can only be possible through the innovation of youth and genuine corporate responsibility."



Youth should be vigilant to ensure that equity and employment in businesses that set up in their communities. They should be vigilant that neither government officials nor local chieftains appropriate the benefits of local enterprises by rent-seeking while claiming to act on behalf of the people.