Busrep.co.za – Business Report
Faced with the daunting challenge of increasing levels of youth unemployment, the debate over youth economic empowerment solutions has become highly contested, as was recently witnessed during a violent stand-off between the DA and Cosatu over the modalities of the youth wage subsidy.
While the solution to this ticking time-bomb does not lie in a single-handed approach, it is important that a correct message about the sustainability of the solutions are at our disposal.
That is why the youth wage subsidy presents both the pros and cons that must be clearly addressed before it is speedily phased in and implemented.
As was seen during a number of platforms and events during Youth Month, as in inviting young people to take up existing opportunities, the temptations exist to create an impression that it is easy for young people to become entrepreneurs and contribute to the economy. While entrepreneurship, from a long-term economic sustainability point of view, presents better options for young people, it is important that the risks associated with running a business are equally understood.
Differently put, without proper skills, experience and coaching, it will be financial suicide and dangerous to steer young people into self-business management if they are not provided with the necessary support structure to ensure that their failure is heavily mitigated.
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