Entrepreneurship Education Is Paramount To Combat Youth Unemployment

In the wake of the global economic downtown trends have emerged that are threatening the future workforce. There are 75 million who are currently unemployed and more than 200 million youth who are earning less than $US2 per day. Yet 1/3 of businesses are still unable to fill vacancies due to skills gap. Therefore educational systems are not preparing young people properly to enter the labor market.

“Grow The Global Economy: Entrepreneurship Education For All Youth” released today at the World Economic Forum (WEF) by Network For Teaching Entrepreneurship (NFTE) examines the youth unemployment crisis and the mismatch of skills being taught in schools and those needed for young people to thrive in the fast-paced, digitally-enabled global economy. The paper argues that the entrepreneurship education for all youth, a goal first set in 2009 by the Global Education Initiative of WEF, is even more imperative today with the general state of the economy and specifically the state of youth unemployment globally.

Entrepreneurship education is a global phenomenon and a proven solution to combat youth unemployment. It’s a tool that can arm young people not only to start businesses and create jobs, but also to be opportunity-focused, flexible employees ready to fill existing jobs. It provides youth with the ability to think like entrepreneurs and to act like business owners, the ability to be problem solvers and the capacity to be adaptable, comfortable and self-directed in unclear situations. It’s these types of real life skills and talents that employers have reported they are looking for when hiring.

"It’s the goal of NFTE to empower all young people to develop the entrepreneurial mindset which enables the attitudes, habits and skills needed to face the new global economy, personally and professionally and to be economically competitive, locally and globally", said Amy Rosen, President and CEO of Network For Teaching Entrepreneurship. “What NFTE seeks to achieve is vital to the worldwide economic recovery and long-term prosperity. The more we can provide entrepreneurship education around, the sooner our current young people will become our job creators in a sustainable global economy".

NFTE has identified four steps necessary to move this global initiative to a greater level of effectiveness:

1. Train at least 50,000 educators to deliver entrepreneurship education and be influencers within the systems and institutions in which they operate.
2. Build and deploy digital platforms that better link education to the world of business and work.
3. Mobilize entrepreneurs and business professionals to be role models and active participants in entrepreneurship education programs.
4. Integrate entrepreneurship education into schools’ core curriculum, across age cohorts and socio-economic status.

“Now is the time to match the needs of youth today with educational opportunities that will prepare them for tomorrow’s economy", said Maria Pinelli, Ernst & Young’s Global Vice Chair Strategic Growth Markets and Board Chair of Network For Teaching Entrepreneurship. “It is my belief that NFTE will continue to change the lives of young adults through youth entrepreneurship education, not only in the US but in as many countries as possible. Students who can develop the entrepreneurial mindset early on are going to have a distinct advantage whether economic conditions are weak or strong".

NFTE, celebrating its 25 year anniversary, is the largest global nonprofit of its kind, using entrepreneurship to show how traditional school subjects like reading, writing and math connect to the real world leading students to a more productive and prosperous life. With proven success, NFTE has already brought this message and program to nearly 500,000 young people around the world and has trained 5,000 teachers. 

About the Network for Teaching Entrepreneurship

Too many young people today drop out of school and struggle to break the cycle of poverty. Since 1987, the Network for Teaching Entrepreneurship (NFTE) has been inspiring young people to pursue educational opportunities, start their own businesses, and succeed in life. By providing entrepreneurship education programs relevant to the real world, NFTE empowers students to own their educations in and out of the classroom and to find their own path to success. Hundreds of thousands of students have discovered opportunity all around them through entrepreneurship via thousands of certified educators worldwide. NFTE supports active programs in 18 U.S. states and 11 countries around the world. Entrepreneurs are a powerful driver of economic growth and NFTE sows the seeds of innovation in students worldwide. For more information, visit www.nfte.com.

ALYSSA MILLER
pr & media specialist
am : MEDIAWORKS
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