Get Weekly Updates
Grow Your Business
7 steps to promote entrepreneurship among the youth
Illustration by Frantz Arno Salvador
Jul 19, 2012
Trade secretary Gregory Domingo has been very vocal about the need to inculcate entrepreneurship into the young, instead of training them to become employees.
But in the Philippines, a number of factors exist that make entrepreneurship unattractive.
In the study European Roundtable on Entrepreneurship Education, the World Economic Forum said there are seven actions needed from the government, educational institutions, and the business sector to promote entrepreneurship among the young.
While the study has been based on the entrepreneurial environment of Europe, these steps may also apply to the Philippine setting.
Identified during the European Roundtable on Entrepreneurship Education organized by the WEF, the actions needed for entrepreneurship to thrive are the following:
1. Transform the Educational System
Educational institutions, from the earliest levels up, need to adopt 21st century methods and tools to develop the appropriate learning environment for encouraging creativity, innovation and the ability to think “out of the box” to solve problems.
Embedding entrepreneurship and innovation, cross-disciplinary approaches and interactive teaching methods in education requires new models, frameworks and paradigms. It is time to rethink old systems and fundamentally “reboot” the educational process. Changes in the educational system are needed across all levels and should address the lifelong learning process as well as critical links and interactions between levels (primary, secondary, higher and continued education).
2. Build Policy Commitment
The government must act now to address the growing skills gap. This requires a clear and coherent commitment at the highest political levels. Policies should send a strong signal of support for entrepreneurship and also set the strategic framework in which schools and universities can work to implement programs and activities within their institutions.
To do so, greater coordination and action is needed at the national, regional and local levels. In addition, the engagement of stakeholders from academe, business, the NGO community and foundations is important in the development of policies and implementation of programs.
Page 3: Commitment
Looking for a new business? Find opportunities here
The best place to look for suppliers and business partners
Know where to place your investments
Looking for ways to fund your business? Find them here
Find the right suppliers and clients for business equipment and other products
Earn money from your properties. Post your advertisement here
Anything and everything about franchising
Expand your network here
Get the buzz from fellow entrepreneurs
Let’s solve your business woes
Your guide through the start-up maze
Swap tips and get advice on juggling your business journals