Today's Date: May 25, 2022
CORRECTING and REPLACING MetaKing Studios Gets Medieval, Raises $15M From Makers Fund, BITKRAFT and More for BLOCKLORDS, the Fir   •   Checkmarx' Ana Lucia Amaral Honored as a CRN 2022 Woman of the Channel   •   U.S. Independent Professionals Earned an Estimated $247 Billion in 2021 and Have Never Been More Satisfied with Their Work, Acco   •   Global Surrogacy Services Announces Outreach to Potential Gestational Surrogates in Three Southwestern States   •   Four recipients of the 2022 Awards of Excellence in Nursing announced from Indigenous Services Canada   •   Five Bluum Standouts Honored on CRN 2022 Women of the Channel List   •   Foot Levelers Momentous Endowment Creates Chair in Biomechanics and Human Performance, Supports Research, Education for Evidence   •   Closing the Health Disparity Gap for Black Women   •   Idaho Technical Career Academy Students are Ready to Take Charge and Celebrate 2022 Graduation in Person   •   Tracey Hayes from MicroAge Named on CRN's 2022 Women of the Channel Power 70 Solution Providers List   •   RNR Tire Express Surprises Tampa-Area Woman with New Car in Mother's Day Giveaway   •   Northern Trust Asset Management Seeks Minority-Owned Broker-Dealers as Part of Long-Standing Diversity Commitment   •   NCCI Golf Event Generates $25,000 for Kids' Chance of America Scholarships   •   Citizens for Judicial Fairness Launches $500,000 #ChangeTheChancery Campaign Urging Governor Carney to Appoint Black Justice to   •    Healthcare Technology Report Names Nym’s Melisa Tucker Among 2022’s “Top 25 Women Leaders In Healthca   •   Equitable Bank Releases Inaugural ESG Performance Report   •   MONAT Wins Four Stevie® Awards in The 20th Annual American Business Awards®   •   vitruvi Launches Into New Air Care Category with Natural Air Freshener Sprays   •   LandOnEarth Announces Launch Into Austin Market, With Other Markets Soon to Follow, with AI Powered Matching Platform to Transfo   •   Mrs. Flowers Takes the Helm at Comfort Home Care, Rockville, MD
Bookmark and Share

Poll: 1 in 5 African Youth Plan To Start A Business

WASHINGTON - Gallup surveys in 27 African countries and areas underscore the interest young people in the region have in entrepreneurship. A median of one in five Africans between the ages of 15 and 24 who are not already business owners say they plan to start their own business in the next 12 months, although they are less likely than those aged 25 to 35 to have these plans. In general, young women are as likely as young men to report plans to launch a business.

 

African youth
Black News, African American News, Minority News, Civil Rights News, Discrimination, Racism, Racial Equality, Bias, Equality, Afro American News

African leaders convening this week at an African Union summit in Equatorial Guinea will address youth empowerment and the roles young Africans can play in positioning their countries for sustainable development. Gallup's measures of young people's attitudes about entrepreneurship inform such conversations, particularly the relationship between youth and economic development.

Gallup finds African youth believe they can rely on social networks to launch their businesses. A median of about 6 in 10 African women (57%) and men (61%) between the ages of 15 and 24 say they trust someone other than a family member enough to make them a partner in starting a business. Similar proportions of women and men in the older age group (aged 25 to 35) say the same.

Young Africans -- whether they are currently thinking about starting a business -- paint a mixed picture in terms of starting and running a business, be it a formal or informal venture. They are relatively positive about the safety of assets and the potential financial success of their business, but fewer find the paperwork process and access to loan money easy enough for would-be entrepreneurs. It is important to note that young people in the older age group as well as both genders share similar views.

African youth
Black News, African American News, Minority News, Civil Rights News, Discrimination, Racism, Racial Equality, Bias, Equality, Afro American News

Attitudes About Entrepreneurship Vary Across Countries

Young people in different countries, particularly those in sub-Saharan and northern Africa have different views about some aspects of entrepreneurship. Young people residing in northern African countries are less likely than their counterparts south of the Sahara to say they plan to start a business. Young people's perceptions about business outcomes in northern Africa are generally less positive than those in sub-Saharan Africa. At the same time, young people in each region found more agreement with respect to ease of business entry and trust in business partners.

Gallup finds other country differences across income groups. Intent to start a business among those aged 15 to 24 is highest in low-income rather than middle-income countries, and ranges from 3% in Morocco to 40% in Uganda. In many of the countries and areas surveyed in Africa, majorities of young people believe they can trust non-relatives to be their business partners, although in the Central African Republic, Chad, Djibouti, Egypt, Libya, and Tanzania, less than 50% of young people believe they can.

Young Africans' views about access to capital underscore the importance of developing country-specific initiatives. As few as 9% of young people in Libya and as many as 45% in South Africa say it is easy enough for anyone to obtain a startup loan, even though similar proportions of young people in each country plan to start a business in the next year and both countries are upper-middle income economies.

Majorities of young people in the Somaliland region (64%) and Chad (51%) say paperwork is easy enough. Young Libyans (11%) were the least likely to say paperwork is easy enough. These findings suggest the paperwork process may push many young people into informal types of entrepreneurship, which could lead to socio-economic marginalization.

Young Africans' perceptions about business profitability and asset safety are more positive across all countries. Views about would-be entrepreneurs' potential profitability range from 85% in Ghana believing the government will allow business owners to make a lot of money to 40% in Libya believing the same. Trust about the safety of business assets is also relatively widespread, ranging from 91% in Ghana to 37% in Chad.

Bottom Line

Young Africans, including young women, show a latent interest in business creation. Although entrepreneurship is not a panacea to the daunting challenge of youth unemployment across Africa, it is a critical pillar that stands to provide a livelihood for many and, in turn, create jobs for more young people. The findings also underscore the gap between relatively positive perceptions of business outcome versus the more negative views of business entry. However, the cross-country variations are important reminders to develop country-specific entrepreneurship programs to turn aspirations into successful ventures. Future research will explore potential gender differences in push-and-pull factors in business creation.

 


STORY TAGS: African youth , Black News, African American News, Minority News, Civil Rights News, Discrimination, Racism, Racial Equality, Bias, Equality, Afro American News

Video

White House Live Stream
LIVE VIDEO EVERY SATURDAY
alsharpton Rev. Al Sharpton
9 to 11 am EST
jjackson Rev. Jesse Jackson
10 to noon CST


Video

LIVE BROADCASTS
Sounds Make the News ®
WAOK-Urban
Atlanta - WAOK-Urban
KPFA-Progressive
Berkley / San Francisco - KPFA-Progressive
WVON-Urban
Chicago - WVON-Urban
KJLH - Urban
Los Angeles - KJLH - Urban
WADO-Spanish
New York - WADO-Spanish
WBAI - Progressive
New York - WBAI - Progressive
WKDM-Mandarin Chinese
New York - WKDM-Mandarin Chinese
WOL-Urban
Washington - WOL-Urban

Listen to United Natiosns News