|
Why Youth Business International?
Almost half of the world's unemployed—around 300 million people—are young people aged 15 to 24. YBI estimates that at least 20 percent of these young people have the potential to become entrepreneurs, but in reality less than 5 percent achieve this. Youth Business International helps young people to become self-employed, while bringing together people in the corporate sector, civil society and government who make their skills, expertise and facilities available to young people. Young entrepreneurs are not only given financial support without the need for collateral, but have access to business mentoring and support during the start-up and early development of their businesses.
|
Youth Business International helps young people to become self-employed, while bringing together people in the corporate sector, civil society and government who make their skills, expertise and facilities available to young people. Young entrepreneurs are not only given financial support without the need for collateral, but have access to business mentoring and support during the start-up and early development of their businesses.
What's our contribution?
The Accenture Foundations awarded a global giving grant of $1.2 million over three years in 2006. The grant enables the scaling of mentoring programs of existing YBI programs in Brazil, Canada, India and South Africa in the first year and is expected to reach other countries in future years. YBI aims to establish more than 8,500 new entrepreneurs who will employ a further 23,000 others and contribute to the economic and social development of their communities. Accenture currently works with YBI in Nigeria and the United Kingdom. Also, Accenture India has worked closely with BYST (the Indian affiliate of YBI) for the last 10 years, providing pro bono services and strategic advice.
Where next?
YBI has helped more than 13,000 young people set up their own businesses and more than 72% of these young people are still successfully in business in their third year. Each new entrepreneur creates, on average, three new jobs. The impact is threefold:
On young people: Self employment increases self-esteem, increases employability and helps achieve economic independence. Young participants provide role models for other young people who see their friends realizing their potential and achieving self-respect and independence.
On business: YBI encourages new and existing entrepreneurs to become involved in the local community, improves workforce skills and encourages the development of a dynamic small business sector.
On society: YBI reduces youth unemployment, thus alleviating poverty, generating wealth and reducing youth alienation and social conflict. Successful young entrepreneurs also create jobs for others.
To Top