Entrepreneurship

The International Labour Organization (ILO) estimates that 47 per cent of all unemployed persons globally are young women and men and 660 million young people will either be working or looking for work in 2015( Schoof, 2006). According to the School to Work Transition Survey, Anderson(1997) stated that “Youth unemployment is no longer pegged to adult unemployment, but constitutes a phenomenon of its own ….the conclusion is that planning for youth employment cannot be approached only as a spin-off from total demand, and that special programmes must be developed to address the problem”.

This validates the claim by the National Youth Policy of Jamaica which states, “Self-Employment is an area deserving of critical attention…” This makes investing in youth entrepreneurship a major priority of government.

Youth creativity coupled with entrepreneurship can provide the impetus for economic development in Jamaica while positively impacting the high levels of youth unemployment.

Entrepreneurship is a mindset and process of seeking opportunity to create value (business, products or services) by blending risk-taking, creativity and innovation with leadership. Any young person may choose to become an entrepreneurship by following the basic steps:

  • Identify a business opportunity
  • Do your research
  • Develop a business plan
  • Register your business
  • Develop Networks
  • Organization that provides assistance of young entrepreneurs:
  • Jamaica Business Development Centre
  • Ministry of Labour and Social Security
  • Jamaica Youth Business Trust
  • National Centre for Youth Development