{"id":9581,"date":"2020-05-29T16:38:49","date_gmt":"2020-05-29T08:38:49","guid":{"rendered":"http:\/\/faradalemedia.com\/?p=1801"},"modified":"2020-05-29T16:38:49","modified_gmt":"2020-05-29T08:38:49","slug":"youth-entrepreneurship","status":"publish","type":"post","link":"https:\/\/www.rakansarawak.com\/v3\/2020\/05\/29\/youth-entrepreneurship\/","title":{"rendered":"Youth Entrepreneurship"},"content":{"rendered":"

\"art-170-01-20\"<\/a><\/p>\n

In the context of employment generation the three terms- Income generation, Self-employment and Entrepreneurship are often used interchangeably.<\/p>\n

Income generation is the initial stage in the entrepreneurial process in which one tries to generate surplus or profit. They are often taken on part- time or casual basis to supplement income.<\/p>\n

Self-employment is the second stage in the entrepreneurial process and refers to an individual\u2019s fulltime involvement in his own occupation.<\/p>\n

In the Oxford Thesaurus, \u2018enterprise\u2019 is defined as \u201cresourcefulness, initiative, drive, imagination, enthusiasm, zest, dash, ambition, energy, energy, vitality, boldness, daring, audacity, courage, get up and go\u2026\u201d<\/p>\n

It is worthy noting that these attributes are generally associated with youth.<\/p>\n

Moreover, the success of the \u2018new economy\u2019-however defined-is dependent on the promotion of a culture of entrepreneurship. It has been observed that youth have the capacity to understand it and be its pioneers. This is reflected in high youth participation in internet business start-ups (OECD, 2001; Curtain, 2000).<\/p>\n

Youth-run enterprises (YREs) also provide valuable goods and services to society, especially the local community (OECD, 2001; Stone, et al., u.d).<\/p>\n

In certain circumstances, young entrepreneurs may be particularly responsive to new economic opportunities and trends. This is especially important given the on-going globalisation process.<\/p>\n

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