The day passes, the weather changes, people grow up and die, but the youth is always there to bring innovation and new changes. However, it happens sometimes, that as a result of economic and social problems, youth loose control and tend to be aggressive by expressing deviant behaviour. To prevent situations which will increase youth involvement in criminal aggresions, there exist laws and concrete policies which aim to reduce the number of such youth crimes.
Evidence suggests that youth unemployment increases unemployment in later life (Blanchflower and Oswald, 2007). Such results have shown an increase in social costs, representing a loss of potential output and a rise in cost to the taxpayer. As a consequence, a potential way for young people to integrate into the labour market is to increase the number of young entrepreneurs.
Developing economies in developing countries should be based on the advantage of cheap labour and primary product production, while developed economies function as creators of technological innovations and creative entrepreneurship of new industries (Bennett, 2009).
On the other hand, care must be taken to ensure that youth entrepreneurship is not seen as a “mass” or broad solution that can cure all the problems of society. Experts believe this can bring an alienated and economically marginalized youth (White & Kenyon, 2000). Young entrepreneurs also provide valuable goods and services to society, particularly to the local community (Stone, et al., 2015).
Among the factors that can be mentioned that affect youth taking the decision to follow entrepreneurship are the implications of economic informality that damages fair competition and youth businesses in disadvantaged situations, lack of initiative among young people and fear of failure, family traditions and the control that the family continues to exercise over youth life (Pocsarovszky, 2011). Other factors that need to be considered are the lack of knowledge of the legal framework by youth regarding the creation of a business and the legal environment in which it is developed, as well as the lack of adequate and accessible information regarding the tax system, low-level loans, areas where investments can be made etc.
One of the main reasons for the existence of youth entrepreneurship is the importance of involving young people in entrepreneurship by bringing more innovative business approaches which can create a friendly environment by following the law and accepting the rules. The need to promote youth entrepreneurship should be considered important based on the influence they have on young people’s will and the role they play in keeping the law strong and giving the example which the citizens need.
Moreover, the importance of analysing the relationship between family and young people in entrepreneurial terms appears after it is proposed that the cognitive network of individual acts as a source of information that can influence decision-making during the entrepreneurial process. Personal family and society influences enhance entrepreneurial motivation for graduates and their career aspirations (Matlay, 2006) both in positive and negative terms.
Social and personal aspects of youth are related to the way how youth have lived and in which way they were educated, all of these factors they present their choice to create their own entrepreneurship. Identifying the impact of the aforementioned aspects in their entrepreneurship is also determined the relevant orientations. Entrepreneurship policies focused on youth entrepreneurship, are important in creating and increasing entrepreneurship by youth because youth is the today that we deserve and the future that we want.
Blanchflower, D. G. & Meyer, B. (2007). A Longitudinal Analysis of the Young Self Employment in Australia and the United States. Small Business Economics, 6:1-20.
Bennett, R.J. (2009) ‘Government SME Policy since the 1990s: what have we learnt?’ Environment and Planning C, 26 (2), 375-397
Stone, J.R. et al. (2015). Youth Run Enterprises: Successes, Barriers and Policy Implications. Minessota, USA.
White, J. & Kenyon, B. (2000). Enterprise Based Youth Employment Policies, Strategies and Programs. Drat Report to ILO, Geneva.
Pocsarovszky R., (2011). Doing Business in the Balkans, HETFA Research Institute, Business Trust and Entrepreneurship Research Programme, Research Background Paper no. 6.
Matlay, H. (2006). Researching Entrepreneurship and Education: Part 2: What is Entrepreneurship Education and Does it Matter? Education + Training, Vol. 48, Issue: 8/9, 704-718.
ABOUT THE AUTHOR
Anxhela Bruçi is a young writer, she has published two books related to social issues. She has finished her Bachelor studies for Administration and Social Policies. She aims to follow a Master of Science for Social Services in Criminal Justice. She aspires to advocate for human rights and to motivate young people to contribute for a better and a safer society.