In many developing countries including Somalia, Unemployment is one of the pressing issues for youth that graduates from the universities. These means that there are no employment opportunities generated for them. Although entrepreneurship is new concept for many youth, and it was realized that the bath for future is via entrepreneurship. The overall unemployment rate is growing at an alarming speed. Amongst the unemployed, the unemployment of youth seems to be alarming in Somalia. Youth entrepreneurship is being look at as an alternative besides other methods of creating employment opportunities.
Entrepreneurship training programmes seek to facilitate the acquisition of business management and entrepreneurship skills. Our Entrepreneurship training aims to facilitate the acquisition of entrepreneurship skills, with a focus on practical business management skills such as business and financial planning, and basic accounting skills.
In order to improve youth earning, SOYVDA believes that self-employment opportunities are one way to improve the lives of many youth in Somalia. In assessment report by USAID in Somalia highlighted that there is There is a great unmet demand for programs that offer skills, assets, and supports for youth to obtain a stable source of income through self-employment in the informal sector. Successful youth livelihood interventions require integrated supports, using flexible, modular components that can be tailored to the needs of different youth segments. Developing a public-private partnership (PPP) strategy is crucial to make private sector engagement easier for local stakeholders. Youth livelihood programs must align the aspirations of youth with the demand trends of the market.
In efforts to respond the local needs of the youth, SCI is implementing “Economic and Social Empowerment of Youth (EASEY) in Somalia. SOYVDA as a local partner with Save the Children Somalia, is very blessed to facilitate Entrepreneurship Training for local youth in Mogadishu. The project will support the economic empowerment of a significant number of young people that not in employment, education, or training (NEET) who live in Mogadishu, Garowe, and Baidoa towns. Youth entrepreneurship in any society is a sign of progress. It has an impact on social as well as cultural and economic progress of the society.
During the 32 days training period, participants went through the following modules which includes how to develop business plan, how to identify resource for your business, micro-business plan, how to determine entrepreneurial potential, and so on. They will subsequently undergo mentorship program for them to guide how bring their business idea into live.