Financial Management in SMEs
Shining star,
I agree with you that sources of youth business funding is a major challenge; this is attributed to the fact that banks and other lending institutions consider the youth as risky borrowers to invest in and find it expensive to administer the small loans to the youth. However, I still believe that with adequate and extensive entrepreneurship training to the youth, they can make very good enterprenuers who have a future in expandng their businesses and of course this would be an attraction to the lenders. What is critical here is equipping the youth with relevant and applicable skills....this means that the buck stops at the trainers, a group that is well represented in this training.
In the same breath, I think governments have a role to play in piloting the youth to be enterprenuers by providing soft loans for starting of youth businesses. A Youth Fund would be a perfect idea if well managed and sustained. The Kenya Youth Fund would be a good example for such an intervention that works well to develope the youth businesses initially such that by the time the youth approaches a bank, the business is self sustaining and the risks involved are minimal
Thanks Marc,
A Youth Development Fund is an excellent idea and i have heared a lot about the Kenyan Youth Development Fund, i met a beneficiary of the fund sometime in the year 2007. My country NIgeria is in the process of developing a Youth Fund and i am sure the Kenyan Experience will be of immense benefit. Hoepfully, i will hear more on the KYF from you at the Face to Face Traning
Thanks For Sharing
Shining Star,
I will really love to share with you about the successes and challenges of the Kenya YEDF. I will try to bring you some publications on the same. You can also access substantial information from the YEDF website
