As the landscape of work evolves, fostering an entrepreneurial spirit is more important than ever. Yet, societal barriers prevent many youth from accessing the resources they need to pursue their ideas.
Programs that promote vocational training, online learning platforms, internships, and apprenticeships provide opportunities for young people to develop practical skills. This helps them to build their financial knowledge and empower them to shape their futures.
Educational Access
A high-quality education provides a pathway out of poverty, promotes social mobility, nurtures a diverse and inclusive society, and drives economic growth. It is a fundamental right for everyone, but especially important for marginalised groups, such as those living below the poverty line, people with disabilities, and youth. This is reflected in the WHO’s Healthy People 2030 goal of ensuring children and adolescents receive quality education to maximise their potential.
In recent years, there has been tremendous progress in improving access to quality education. Global primary-school enrollment grew by more than 20 percent between 1970 and 2018, while secondary-school enrollment grew by more than 50 percent. However, there are still significant challenges in achieving universal access to quality education. For example, many schools were closed during the COVID-19 pandemic, and millions of young people lost out on learning opportunities.
The educational landscape is undergoing profound transformations, from traditional classroom-based teaching to online platforms that offer personalized and flexible learning experiences. Non-formal and informal learning programmes, such as internships, apprenticeships, community service projects, and vocational training, also enable young people to acquire practical skills.
A well-educated workforce is a prerequisite for driving business success. As a result, youth must be given every opportunity to gain the skills they need to secure good jobs and become economically self-sufficient. This is achieved by empowering them with knowledge and training in emerging technologies such as artificial intelligence, blockchain, renewable energy, and biotechnology.
Entrepreneurship
Entrepreneurship is a powerful stepping stone for youth to launch their businesses or help others do the same. It gives them the skills to identify problems, propose and implement solutions, and build new products. It also allows them to take the initiative at work by proposing improvements to existing processes, which can result in fast-tracking their careers.
It’s a valuable skill for young people to have, and entrepreneurship programs have been shown to increase their chances of success in any field of study. In addition, it provides students with a wide range of career opportunities and helps them develop durable skills that remain relevant over time, such as problem-solving, leadership, creativity, and emotional intelligence.
Whether they start with a lemonade stand or a tech-driven innovation, entrepreneurs make a difference in the world. For example, they contribute to economic growth and employment in their communities and aid development in less developed nations. They also break tradition and bring unique inventions to the market that reduce dependency on outdated methods, such as the smartphone and its apps.
In addition, when it comes to business, many small entrepreneurs can bring their passions to life. As a result, they’re able to turn hobbies into money-making opportunities, like selling handmade jewelry, bedazzled phone cases, or self-coded video games. In turn, these ventures support the local economy by providing jobs and boosting community spirit.
Civic Engagement
Civic engagement refers to the activities and commitments that allow individuals to contribute to the community in a meaningful way, like volunteering at food pantries, hosting neighborhood clean-ups, or serving on local government boards and committees. It is an essential part of democracy because it encourages the voices and problems of citizens to be heard and addressed. People who are civically engaged are also more likely to feel a sense of connection with their neighbors and say that they enjoy living in their communities.
Civic participation is also a critical component of social capital, which includes the social connections and resources that allow individuals to function in their everyday lives. According to a study, social capital is the foundation for a person’s ability to thrive, and it can be enhanced through various means, including civic engagement.
Civic engagement can be facilitated by programs that provide young people with opportunities to interact with their local community through volunteerism, service learning, and community organizing. Youth can learn a variety of skills and develop their empathy, leadership, and teamwork through these experiences, which are important for future success in business and life. Research has shown that civic engagement can lead to a range of positive outcomes for at-risk youth, including better academic and behavioral results in emerging adulthood. However, it is unclear how the specific components of civic engagement—such as support from peers or adults—and the types of activities undertaken—such as community service and political activism—affect developmental outcomes.
Public-Private Partnerships
Public-private partnerships (PPPs) involve collaboration between government entities and private organizations. They bring together a range of interests, resources, and expertise to support projects that benefit the public, such as infrastructure and service delivery.
Partnerships can provide new funding streams for social initiatives that may be beyond the reach of traditional philanthropic donations or government grants. In addition, partnerships can help reduce the risk of investing in a project by transferring some of the risk to private investors.
But navigating the complexities of collaboration between two distinct sectors requires careful planning and clear communication. This can be especially challenging when determining priorities and objectives, with public entities often prioritizing social outcomes while private organizations prioritize profitability.
This can make it difficult to find common ground and develop a partnership that will be mutually beneficial for both parties. This is why it is important to develop a detailed proposal that outlines the specific needs of your youth program and how you will partner with businesses to meet those needs.
Creating a successful PPP can also be complicated by the varying approaches to vetting potential private partners. Some agencies have centralized vetting units with officers who are solely responsible for reviewing and approving partnerships. Others require each office to review prospective partners on a case-by-case basis. This can add to the administrative burden of implementing a PPP and could potentially limit the number of opportunities for businesses to become involved with youth programs.