Enterprise development programs help entrepreneurs to start and run profitable businesses through training, technical assistance, and inclusive market development activities. While the dynamism and innovation that entrepreneurs bring to an economy are one reason to implement activities in this area, the inability of the formal sector to produce enough jobs for the growing youth population makes self-employment an important option for youth as well.
Where We Are Now?
Similar to the general enterprise and market development field, youth enterprise development has moved from a focus solely on the enterprise itself to a more holistic approach. While providing training or technical assistance to an entrepreneur is still important, practitioners are complementing these types of assistance with activities to strengthen an enterprise’s overall ecosystem. For example, projects now include initiatives to strengthen entrepreneurs’ networks, so that they can gain business or mentoring assistance as necessary, or focus on strengthening the overall value chain specific to youth enterprises.
Trends and Best Practices: