It’s worth the risk for the youth

product and a mirror image of a people who were once materially, psychologically and physically disadvantaged.
Now that we have redeemed a sense of control and purpose over our lives, we strongly feel that there is no better or perfect time to administer empowerment policies than now! In the youth sector, in spite of the increasing recognition of entrepreneurship as a source of empowerment and economic energy in this rapidly changing environment, there has not been a systematic attempt to look at it from a youth angle.
The tendency has been either to subsume the youth into the general black empowerment drive or to totally ignore their efforts to forge a living through enterprise.
The same age group disadvantaged during the colonial system surely cannot continue to be deprived because some institution is so afraid of risk. Yes the question of risk is a genuine one but don’t you think our youth also deserve and have a right to earn our confidence? It’s just like what the  Organisation for Economic Co-operation and Development (OECD) noted in 2001 that “The challenge for governments, corporates and international bodies seeking to improve youth livelihoods is to “tap into the dynamism of young people and build on their strong spirit of risk-taking”. And not shun from it!”
Generally in an economy such as ours companies face many constraints which impede their growth and propel failure, however, there are unique challenges that directly affect young people and these obstacles need industry fathers to address them directly.
This is in the backdrop of overwhelming data that suggest that, compared to adults, young people are disadvantaged, youth face problems of access to capital, their enterprises have a lower market value or inventory, they engage in a narrower range of activities and struggle with meeting operational costs. More young people lack security, do not bring experience and contacts to the business. Enterprises owned by youth tend to rely on simple tools or have no equipment at all.
These constraints badly expose youth run enterprises to a greater risk. Available evidence suggests that heavy reliance on local financial institutions, that cannot deliver, is a key constraint on development and growth of youth run enterprises. Positive responses to youth empowerment calls by financial institutions lead to a boost of the economic and social value of youths.
The effectiveness and success of the Youth Empowerment policies, Zimbabwe Youth Council and the Ministry responsible for youth is demanding is guaranteed and largely attributed to the following:
Clear Objective: The Empowerment Policy does not attempt to combine social and economic objectives in the promotion of youth entrepreneurship. Many youth enterprise promotion programmes fail because of a multiplicity of objectives, but ours is solely anchored on making sure that key economic aspirations of young people are meet.
Commercial Orientation: Financial institutions participating in the Youth Empowerment Fund are expected to take a commercial approach to their operations. They do not operate as “welfare” or social services, this allows them to develop a professional capability and technical competence that is critical to the success of their youth enterprise support but also being cautious to the special needs of young people.
Adequate Funding: All Banks need to come on board! Calls have been made, it can not only be CABS, CBZ and Stanbic, adequate funding will make way for the Successful implementation of youth empowerment initiatives. Available data shows that youth enterprise supports in many developing countries fail mainly due to inadequate funding.
When supported and fully implemented experts believe that the Youth Empowerment Fund can bring back the alienated and marginalised youth back into the mainstream economy. Democratisation of entrepreneurship can allow the disadvantaged youth in society to succeed regardless of background.
l Innocent Katsande Is the Communications Officer for Zimbabwe Youth Council.