Business

Entrepreneurship key to solving youth unemployment - Former Minister of Trade and Industry

Former Minister for Trade and Industry, Ekwow Spio-Garbrah says the high rate of unemployment in the country can be reduced drastically if the youth venture into entrepreneurship.

He said the youth must focus on creating jobs instead of seeking for the jobs after graduating from the universities.

“In this era of transformation, entrepreneurship is the way to go for any country and Ghanaian youth must be seen taking the challenge instead of relying on leaders to create jobs for them,” he stated.

He was speaking at this year’s “Get It Right” Clinic, held under the theme, ‘Promoting entrepreneurship: Impacting lives.’

He said one of Ghana’s biggest problems was the growing youth unemployment rate which must be addressed by the upcoming generation by focusing on entrepreneurship.

“About 300,000 graduates are churned out from our universities every year and only few could be absorbed in the job market, leaving the majority to join the unemployment line,” he stated.

He said: “The youth must look out for their natural skill set and develop it into income generating ventures. It could be singing, catering, fashion and designing.”

For that reason, he said, his organisation, African Based Consultancy for Development (ABCD) has begun educating students on the need to develop their talents and begin some entrepreneurship while in school.

He lauded organisers of the Clinic, Women on the Move Foundation, for their initiative which would encourage women to become entrepreneurs and also take up leadership positions.

Founder of Women on the Move Foundation, Ama Lawson, said the ‘Get It Right’ Clinic was aimed at providing the networking platform for the youth to identify and exploit their opportunities to develop into entrepreneurs.

“We need to build confidence in ourselves as that entrepreneur, business executives or student preparing for the job market and future in general on how to move their lives and business forward,” she stated.

“The interesting interaction of entrepreneurship and economic development has vital inputs and inferences for policy makers, development institutes, business owners, change agents and charitable donors,” she stressed.

She said a balanced approach to nurturing entrepreneurship would definitely result in a positive impact on the economy and society.

BY MICHAEL D. ABAYATEYE

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