Contextualizing support
for youth
entrepreneurship
Professor Francis Greene
The costs of multiple disadvantage
 Eurofound (2012) estimated that there were
around 14 million (around 14%) young
peopl...
 Entrepreneurship is less likely among young
people (rates in EU are about 5%)
 Obviously varies between countries but m...
Barriers to youth entrepreneurship
 Lack of access to finance (e.g. lack a track
record/collateral so struggle to gain de...
Examples of good practice
 Interventions in the educational system:
Nordic entrepreneurship from ABC to PhD;
 Integrated...
Reflections
 Most young people want a job made for them
rather than creating their own…
 Evidence tends to suggest integ...
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University of birmingham presentation

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University of birmingham presentation

  1. 1. Contextualizing support for youth entrepreneurship Professor Francis Greene
  2. 2. The costs of multiple disadvantage  Eurofound (2012) estimated that there were around 14 million (around 14%) young people in the EU who were NEETs.  They estimated that the lifetime costs of these NEETs was about €153 billion or about €3 billion a week  If 1.4 million were re-integrated into the labour market, this would save €15 billion  Youth population bulge in Africa
  3. 3.  Entrepreneurship is less likely among young people (rates in EU are about 5%)  Obviously varies between countries but men more than women more likely to be entrepreneurially active  Young entrepreneurs are less likely to survive and grow their business: Nagler and Naudé (2014) show that labour productivity of young entrepreneurs in Sub-Saharan Africa is much lower than older entrepreneurs Entrepreneurship take up and characteristics
  4. 4. Barriers to youth entrepreneurship  Lack of access to finance (e.g. lack a track record/collateral so struggle to gain debt finance)  Lack of skills, knowledge and abilities (e.g. unaware of their entrepreneurial capacity, competency and aptitudes)  Lack of contacts and support (e.g. lack ‘know how’ contacts, wider support infrastructure)  Environmental framework conditions (regulations, institutions, taxation etc)
  5. 5. Examples of good practice  Interventions in the educational system: Nordic entrepreneurship from ABC to PhD;  Integrated support: – World Bank (2013) meta-analysis tends to suggest that support + finance packages work best but need to be sensitive to local conditions
  6. 6. Reflections  Most young people want a job made for them rather than creating their own…  Evidence tends to suggest integrated packages work better  Issue is not just about creating young entrepreneurs but supporting them to develop sustainable businesses

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