Youth is one of the prime and most important human resources of each and every nation. Providing growth opportunities, enabling and equipping the youth with skills required for acquiring professional qualifications as well as building entrepreneurial capabilities is one of the prime areas of focus of every country to harness the potential available. Building youth entrepreneurship has several benefits for the society and the youth too. Any initiative and implementation of action plan in this direction calls for policy directives from the government.
Governments of all countries have started focusing on Youth entrepreneurship in the recent years thanks to the research and study by the academician, NGOs and International Organizations. In all countries the Governments have realized the need for policy making in the field of Youth entrepreneurship with an aim to solve some of the unemployment problems amongst the youth, bring marginalized youth into the main stream and provide them with gainful avenues of employment as well as for the overall benefit and advancement of the society too. The policy making in this area is still in its nascent stages and is evolving.
Drawing up Youth Entrepreneurship policy calls for collaboration and integration from multiple stake holders in the society, Government as well as other sectors including NGOs, Education, Labour and Youth Departments. The youth policy would have to be drawn up taking into account the social, financial, political as well as micro and macroeconomic policies with both short term as well as long term perspectives. Political will and initiative at all levels of the Government, Industry as well as society can go a long way in providing the right impetus for the growth of Youth Entrepreneurship in the country.
Needless to mention that the Youth Entrepreneurship policy making has to originate at the national level and by consensus. The policy directives and initiatives should then be driven down to the regional and local levels. Drawing up national policy on Youth Entrepreneurship would need to take into consideration the international organizations outlook and policies concerning the Youth and align with the same as far as possible. Keeping in line with ILOs policy guidelines concerning Youth Entrepreneurship and employment, in country policies can aim to create increased employment opportunities as well as increase the capability of the youth and provide direction for the growth of Youth Power.
Youth Entrepreneurial policy would be unique for each and every country as its socio- economic framework and society are different in each case would determine the kind of policy the country would need to adopt. Every society and youth would have its unique features and characteristics besides the economic factors that would have to be taken into account to draw up policy measures as applicable to the current times as well as with long term perspective.
Policy making in Youth Entrepreneurship calls for understanding the current dynamics, the emerging scenarios in the society and other related fields including economy, industry, education etc, understanding problems amongst the youth in all sections of society as well as futuristic trends and developing suitable interventions to address the problems as well as to embark on a comprehensive and futuristic policy.
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