The best way to involve unemployed youth in constructive activities is to inspire them towards entrepreneurship. Encouraging entrepreneurship is very important for economic development of Pakistan. According to Global Entrepreneurship Monitor’s report that Pakistanis are less enthusiastic about entrepreneurship. The main problem is that mostly university graduated young people prefer to search for a job instead of to explore business related opportunities. Even that the young people who prefer to get hired usually face trouble to find a job or badly paid, or find the irrelevant or casual jobs.
Why prefer Entrepreneurship Over Jobs?
Entrepreneurship is widely common for decades in the professional world. It is true that unemployment and badly paid jobs force the young people to consider other options. The only option that they are left with is to start something on their own, as the better use of their skills and time. It is comparatively better than being employed anywhere because of the freedom and quality of life that can be availed by earning more in one’s own business.
Advances in technology have created more opportunities for small and new entrants to compete in the global market. One should be creative enough to start his own business, along with a broad and open vision and mission of the business idea, the process, and the risk. In other words, it is all about converting sources into resources.
Government’s Role to Support the New Breed of Entrepreneurs
Government is responsible to provide all basic facilities to the people so that it could not only develop several qualities in the people but also create a positive impact on the economic improvement of the people. Basic facilities include, stress-free financial funding policies low-cost loan facility with soft terms and conditions, stable political condition, conduct public awareness programs, higher education facilities, adequate infrastructural facilities can be of great help to the development of better skills in the people.
It is observed that small businesses play an important role in economic development. Due to many cases, small businesses have critical importance for each state economic system.
How to Promote the Idea of Entrepreneurship Among Youth?
Entrepreneurship should be fostered in youth from the school level and the government should take measures to make entrepreneurship part of the school syllabus so that the youth could consider it as a possible career. It is important to note that fostering entrepreneurship in youth is vital to put Pakistan on the path of sustainable economic growth. Schools should focus on teaching entrepreneurship as a subject to students, which would be helpful in luring youngsters towards the business world. There are not enough jobs in public and private sectors for educated youth and by pursuing entrepreneurship, the youngsters will not only develop a prosperous career but will also become job creators for others.