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YOUTH: OUR PRESENT FOR A BETTER FUTURE

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Fast Facts

Youth entrepreneurship around the world

One in four young people around the world are entrepreneurs or self-employed.

Source:

Global Entrepreneurship Monitor (GEM) 2015 APS Global Individual Level Survey Data. Young meaning: 15-24 years of age.

Accessing finance is a major challenge for youth-led firms.

Youth-led companies are less likely to have a bank account.

Owning a business bank account

70%

of entrepeneurs until age of 34

84%

of entrepeneurs as of 35+ age

More youth led companies need a financial loan (82%) than non-youth-led companies (60%).

82%

of youth-led companies need a loan

60%

of non-youth-led companies need a loan

Source: ITC. Based on SME Competitiveness Survey data gathered in 15 countries (Argentina, Benin, Botswana, Burkina Faso, Cambodia, Ghana, Hungary, Kenya, Morocco, Saint Lucia, Gambia, Philippines, Togo, Ukraine and Zambia).

Recommendation:

Improved youth skills and innovation as well as financial support promote the export capacity of small businesses.

Note:

Youth in this edition of the magazine is defined as per the African Youth Charter in which “youth” means “every person between the ages of 15 and 35 years.

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Palais des Nations, 1211 Geneva 10, Switzerland Tel. +41-22-7300-388 Internet: www.intracen.org

The International Trade Centre is the joint agency of the World Trade Organization and the United Nations.

Copyright: International Trade Centre, unless otherwise indicated.