By Andrew Fiddaman, Youth Business International
When it comes to creating enough jobs, particularly for young people, it's not just the UK that's facing huge challenges – it's a problem plaguing countries around the world.
SMEs generally create the majority of jobs, but starting a new business is rarely straightforward. And, if it's hard enough for an entrepreneur to start up a business and build it to a level where they can actually employ people, then for a young person with not much experience and even fewer contacts, it's an extremely tall order.
Yet helping young people to start their own businesses not only tackles rising youth unemployment, but it also helps to contribute to economic development by creating additional jobs and introducing innovative new products and services into local communities. And that's what Youth Business International (YBI) strives to achieve.
Founded by The Prince of Wales in 2000, YBI is a global network of independent initiatives operating in over 30 countries. The organisation helps young people who have a business idea but no means to get their business started.
In 2011, YBI helped 7,700 entrepreneurs to start their own businesses using an integrated package of support including access to finance, volunteer mentors and training. It is estimated that these entrepreneurs will directly create over 25,000 new jobs over the next three years.
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