Over 50% established African entrepreneurs are equipping young ones with necessary entrepreneurship skills. Ernst and Young, a global leading professional services organization, which helps companies across the world to identify and capitalize on business opportunities, has found.
The world leading tax and assurance organization discovered this through its fourth annual EY Global Center for Entrepreneurship and Innovation survey. The survey sampled the views of more than 2,000 entrepreneurs in March 2015 from around the world, representing 13 key global economies, on their economic confidence and outlook on job growth. “Separately, we surveyed 2,807 aged 18-25 in 13 key global markets. The sample represents a combination of students, workers in their first jobs and those looking for work,” the study stated.
With the various business training and counselling given by the successful entrepreneurs, the study found that entrepreneurial desire is considerably higher in sub-Saharan African. Over 30% and 20% of the entrepreneurs said they are inspiring young ones to follow their aspirations and role models for young people.
These visionary men and women, over the past four years of the survey, have proven themselves to be one of the greatest sources of sustainable economic growth. The percentage of the entrepreneurs, who guided and advised young people on how to enter the workplace increased from 26% to 44% in sub-Saharan Africa.
The study came at a time, when established entrepreneur, Mr Tony Elumelu, the founder and chairman, Tony Elumelu Foundation (TEF), has said that Africa has a number of young people with incredible dreams and business ideas but without the experience or the access to mentoring and support required in order to build a bankable business plan. “With no access to the right resources and lack of know-how, the ideas remain dreams in the hearts of the young African population.”