Youth Entrepreneurship to Address Youth Unemployment

With the graduation season fast approaching, excitement builds up as students prepare themselves for the next phase of their young lives – the professional life.

 

After graduation, they will be scouring newspaper advertisements, join job fairs, sign up on online job websites, visit companies and inquire about possible employment vacancies.

 

A number of these graduates will find jobs in the Philippines; a number will find jobs abroad. Some will work in a formal company; others will be working more informally.  And unfortunately, some will join the ranks of the unemployed.

 

For the Filipino youth, especially those in the last unfortunate set, they have to have better choices. What if rather than just working as an employee, you could become your own boss and run your own enterprise?

 

In the Senate, I have the Youth Entrepreneurship Bill, which aims to expose our Filipino youth to entrepreneurship at a young age and give them a good foundation for business creation in the future.

 

If enacted into law, course programs in entrepreneurship will be developed for primary, secondary and post-secondary schools to give them knowledge how to start and run their own businesses.

 

Moreover, the bill aims to create a fund and support structures to aid starting entrepreneurs in their product development, access to capital, training and other services, to help them establish their own enterprises.

 

The Youth Entrepreneurship Bill was passed on third reading in the Senate and was passed on second reading in the House of Congress recently.

 

I hope that this bill will be enacted into law soon to assist our fresh graduates and young Filipinos.

 

This bill hopes to also address the growing unemployment rate in the country.

The government’s push for inclusive growth will not take off unless the problems of youth unemployment and underemployment are not immediately addressed.

 

The challenge is make our current economic growth felt by every Filipino through generation of jobs and creation of livelihood. And youth entrepreneurship is one of the keys for our Filipino youth to experience this growth for themselves and for their families.

 

First Published On: Youth Enterprising Blog

 

 

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