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Youth entrepreneurship scheme

Where
Barbados
When
2018
Who
Youth entrepreneurship scheme, division of youth affairs, ministry of culture, sports and youth
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Description of the policy/measure

The key components of the youth entrepreneurship scheme model of entrepreneurial development are:entrepreneurship education and trainingdirect technical assistanceaccess to capital.access to markets & networksawareness buildingyes delivers a package of strategic business offerings which is designed to meet specific needs of the existing and potential entrepreneur as follows:business counselling and mentorshipentrepreneurial development trainingdirect technical assistancefinancial counselling and referralaccounting servicesmarketing servicesentrepreneurship education - yes junior programme /camp enterprisebusiness counsellingyouth enterprise officers and private consultants from yes network of technical partners actively coach and guide entrepreneurs in all aspects of setting up, operating, managing and growing their businesses.entrepreneurial development training the entrepreneurial development training is a comprehensive and skill-oriented training package that is specifically designed to promote the personal development of entrepreneurs, enhance business management skills and foster good business planning practices.  training is targeted at all interested clients of yes.technical assistancethe technical assistance programme renders support on a one-on-one basis for selected entrepreneurs in an effort to develop the business entity.  its objective is to provide existing businesses and business in the product development stages with specialized expertise. financial counselling and referral for financial assistanceyes facilitates the link between the young entrepreneur and financial institutions that understand their needs and constraints.  clients are referred for start-up, expansion and venture capital funding from the barbados youth business trust, fundaccess, enterprise growth fund limited, cooperative credit unions, commercial banks and angel investors.accounting servicethe accounting service provides clients with assistance in accounting and financial planning and management.  it offers administrative and financial management.
2005 Convention Monitoring Framework Goal(s)
Area(s) of Monitoring
Sustainable Development Goal(s)

Results achieved

The expected outcomes and the results observed from the implementation of the youth entrepreneurship scheme are as follows: advancement of the work of youth entrepreneurship – showcasing model entrepreneurs and marketing their successes as a means to encourage others to follow in their footsteps.creation of structures and new services to support young entrepreneurs.increased employment among youth.increased enterprise formation and growth by expanding the numbers of businesses owned by young people that are sustainable, efficiently-run, and profitable.greater access to assistance by aspiring and practising entrepreneurs to an established network of affordable support services in all the functional areas of business.provision of relevant and timely information to assist with decision making, problem solving and business development.enhanced awareness of self-employment as a feasible and sustainable alternative to traditional wage employment.greater accessibility to traditional and non-traditional financing for market research, feasibility studies, start-up and expansion of businesses.provision of support for curriculum development and teacher training.increased investment in infrastructure and services – website, yes! magazine, living the dream series, enhance access to reference material, and the internet for research.fostering of community support for entrepreneurship.the development of corps of well-rounded and productive young people

Financial resources allocated to the policy

±«²õ$Ìý609,056

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