The Ministry of Youth, Sports and Culture will be expanding its programme for youth entrepreneurship. This was disclosed by Parliamentary Secretary in the Ministry, Senator Warren Newby, as he opened the State of the Nation Debate in the Senate Friday (June 24).
Senator Newby said that a grant of $20 million has been placed with the Jamaica Youth Business Trust towards this initiative. “We are putting in place the relevant policy framework, and (we) are working assiduously with two international donor agencies to increase the pool of funds available for this initiative,” he said. He also noted that the Ministry has partnered with the Heart Trust, Jamaica Business Development Corporation and the Scientific Research Council for the development of incubator space for youth business.
The Jamaica Youth Business Trust aims at working with young people, 18-30, to build sustainable businesses, using the tried and proved youth entrepreneurship three pronged methodology of start-up capital, business mentoring with consistent and continuous ongoing business support.
This might have come as a consideration of the present youth being tech-savvy. From building a webpage to finding the best turnkey dropship websites for sale to using social media platforms for marketing, they tend to know it all. The young generation of entrepreneurs nowadays is keen on learning about everything around them so that they can apply their real-life experiences to grow their businesses. For instance, along with being tech-savvy, some entrepreneurs also seem to know how to deal with employees, how to make the training sessions more engaging (perhaps they acquire knowledge about this by reading up on blog posts that talk about “How to Make Training More Engaging for Employees“), and how to keep them motivated to do their jobs. However, all they lack perhaps is a proper channel for the outlet of these skills, which this Trust would offer.
The youth business trust concept targets unemployed and underemployed youths, who have good business ideas and are about to start their own business but are unable to get the requisite help and guidance elsewhere.
Source – JIS
