Stake Holders in Youth Entrepreneurship Development Policy

Youth Entrepreneurship development in any country calls for Macro and Micro level detailing and policy definition. Effectiveness in implementation of Youth Entrepreneurship depends chiefly on the policy definition, provisions and the implementation plan envisaged as per the policy. One of the most important aspects of Youth Entrepreneurship development that one needs to keep in mind while drafting the policy is to ensure that all key stakeholders roles and responsibilities are defined. Though the policy is defined by the Government of each country, the implementation is facilitated through and by the stake holders. Therefore the stake holders play a very critical role in the entire program and if not addressed adequately can lead to becoming barriers in the implementation.

Government - The Primary Stake Holder

First and foremost the primary and most important stake holders in Youth Entrepreneurship development policy program happens to be the Government. When we refer to the Government, it should be noted that the Federal or Central Government defines and brings out the policy. However the policy directives are then carried forward and taken up by the regional and local Governments as well as the local Youth Departments of the Government.

In building a culture that promotes Youth Entrepreneurship development in the country, the Government at all levels has a major role to play by creating the right environment, providing the impetus to the movement and initiating a positive and developmental language and culture. The different departments and ministries under the Government concerned with Youth, Education and other related areas also form an extension of the Government’s arm.

Private Sector Enterprises

Apart from the Government and the related institutions which own the Youth Entrepreneurship development responsibility, the private sector and the society too has an equally important role in this area. By Private sector we are referring to the entire industry including the banking and financial institutions, the trade associations, the general trade, the industries and all private institutions including educational institutions and establishments. Effective implementation in Youth Entrepreneurship development calls for providing & creating opportunities for the Youth to get engaged in entrepreneurship can be done only by these private stake holders.

In a culture that is pro Youth Entrepreneurship, we find the industry and the private companies coming forward to encourage the Youth, to hand hold and give them opportunities to get started as entrepreneurs. The business leaders too take a personal interest in this area and motivate the Youth in the right direction. Some of the corporate business houses take it as their social responsibility to provide and encourage the Youth Entrepreneurship. Some of the Multi National Companies like IBM etc are known to support women and youth entrepreneurs actively in developing countries and reserve few areas of services procurement to the Youth thereby encouraging them to become service providers to the Company.

Non Profit Sector - The Facilitators

Apart from the Government and the Private sector players, it is the Non-profit sector organizations such as the NGOs, The Youth Organizations, Community Networks, Cultural Associations and Private Trusts and Foundations that play the important role of being facilitators and enablers of Youth Entrepreneurship Policy implementation. These stake holders can be said to be the movers and shakers of the YE Programs in the society. The NGOs contribute a lot not only by way of engaging directly in the implementation and working with Youth groups but also by way of engaging in field studies, providing valuable data and assessment to the study groups.

Finally the Youth Power belongs to the society and by promoting Youth Entrepreneurship, the entire society including the public and media, as well as the nation is benefitted. Therefore we can rightly say that the society too is a stake holder in the policy implementation in the country.