Youth entrepreneurship as a catalyst for the future of work: an analytical study of employment, skills and innovation
DOI:
https://doi.org/10.64171/JSRD.5.S2.88-93Keywords:
Youth entrepreneurship, Future of work, Employment, Innovation, Economic developmentAbstract
From the trends observed, the nature of jobs is changing at a very fast rate with the evolving technology, the process of digitalization, the automation of jobs, and the changing structures of the economy. Employment among the youth has been greatly affected by the changing nature of jobs, such that unemployment is a characteristic of their employment status. In this context, youthful entrepreneurship has become a critical factor in shaping future labor markets. This paper aims to explore the aspect of youthful entrepreneurship and its effect on future labor markets.
The paper is based on existing literature, policy, and secondary data sources concerning youth employment, enterprise, and the emerging trends in the world of work. It provides an analysis pertaining to the role and contribution of young people in promoting jobs, innovation, and economic inclusion in the face of economic uncertainty. The results reveal that youth enterprise is fully in line with the challenges of the future world of work and encourages adaptability, creativity, IT proficiency, and the solving challenges among young people.
In addition, the paper also highlights the major challenges facing young entrepreneurs. These challenges include, among others, limited access to finance, low levels of education and training of entrepreneurs, numerous rules and regulations, insufficient mentorship, and institutional support inadequacy. However, as mentioned above, the potential of youthful entrepreneurship to generate self-employment opportunities and create new employment opportunities is evident, especially with regard to digital and innovative technologies. As can be seen from the research carried out, it is essential to create a favorable policy environment that fosters entrepreneurial education and entrepreneurship ecosystems. Finally, the research concludes that the promotion of youth entrepreneurship does not only create new opportunities for employment but does so in a strategic sense.
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