Young Entrepreneurs

By Verena Kern. In the aftermath of the crisis, youth unemployment rates have reached new heights across Europe. In January 2014, 23.4% of young Europeans were without a job. Following an EU wide initiative, ‘youth guarantees’ are being implemented in many EU countries. At the same time youth entrepreneurship is moving into focus, as entrepreneurship is known to be a driver for economic growth and job creation. While only 4% of 15-24 year-olds were self-employed in 2011, the interest in self-employment and entrepreneurship seems to be much higher according to a Flash Eurobarometer Survey from 2012. The survey found that around 44% of 15-24 year-old Europeans think that self-employment is feasible and would like to set up their own business. Lack of skills and financial resources are the most common barriers to youth entrepreneurship. In order to address these issues and encourage entrepreneurship a number of initiatives at both EU and National level have been introduced in recent years. More...