The Jamaican Youth Entrepreneurship Strategy

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The Youth Entrepreneurship Strategy is a comprehensive plan developed to create an enabling environment for the development of successful and sustainable youth-led businesses in Jamaica.
What are the main aims and objectives?

The Youth Entrepreneurship Strategy aims to create an enabling environment for the development of successful and sustainable youth-led businesses in Jamaica. Its main objectives are to provide a framework for coordinating, supporting, and measuring various entrepreneurial efforts pursued by entities involved in youth entrepreneurship. The strategy seeks to strengthen the role of youth in national economic development by focusing their skills and abilities into areas that make for sustainable enterprise development. It also aims to encourage a greater cross-section of young people to actively participate in entrepreneurial-related sustainable enterprise development. Additionally, the strategy intends to give prominence to youth entrepreneurship as a viable path for economic empowerment and job creation. 

How does the program work?

The Youth Entrepreneurship Strategy is guided by three key principles:

  1. A life-cycle approach: This principle acknowledges that human development occurs along a continuum. While the National Youth Policy (2004) defines youth as those aged 15-24, this strategy recognizes that youth entrepreneurs may fall outside this age range and may need support beyond age 24
  2. A holistic approach: The strategy aims to respond to youth needs comprehensively rather than with piecemeal interventions. It seeks to promote positive youth development in Jamaica by addressing general youth needs in a harmonious and comprehensive manner
  3. A multi-sectoral approach: This principle recognizes that successful youth development can only be achieved through collaboration among various stakeholders. It emphasizes the need for government, private sector, non-governmental organizations, donors, and civil society to work together to advance the youth agenda

These guiding principles form the foundation of the Youth Entrepreneurship Strategy, ensuring that it takes a comprehensive, inclusive, and collaborative approach to fostering youth entrepreneurship in Jamaica. By adopting these principles, the strategy aims to create a more effective and sustainable framework for supporting young entrepreneurs throughout their developmental journey. Building upon these principles, the strategy focuses on four key areas:

Educating: To integrate entrepreneurship education into curricula from primary to tertiary levels. Key objectives:

  • Include entrepreneurship in school curricula at all levels
  • Develop student-centered teaching resources and models
  • Prepare instructors to teach entrepreneurship and innovation
  • Develop student support entrepreneurship programs
  • Emphasize participatory action research and community enterprising
  • Legalize virtual and student-run enterprises

Providing Access to Venture Capital: To create a sustainable business environment sensitive to youth-run enterprises. Key objectives:

  • Facilitate greater access to youth-friendly credit
  • Mobilize financial resources
  • Negotiate bilateral and multilateral collaborations

Mentoring: To foster awareness of economic opportunities among Jamaican youth. Key objectives:

  • Forge linkages between service providers and institutions
  • Use youth-friendly media to promote entrepreneurship
  • Create a "one-stop shop" for business support services
  • Increase networking among entrepreneurs
  • Provide support for youth-owned small businesses
  • Develop youth skills to exploit business opportunities
  • Create a youth "business plan bank"

Providing Access to Incubators: To stimulate youth employment by anticipating labor market needs. Key objectives:

  • Prepare youth to start and manage businesses
  • Explore opportunities in non-traditional sectors
  • Provide support services for high-potential startups
  • Empower youth by teaching soft skills and work ethic

Each of these focus areas is designed to address specific aspects of youth entrepreneurship, from education and funding to mentorship and practical support. Together, they form a comprehensive strategy to foster a culture of entrepreneurship among Jamaican youth.

What is the overall cost?

There is no available information about the cost of implementing the strategy. 

How was it implemented?

The Youth Entrepreneurship Strategy was created in 2011 as a standalone initiative to complement the Revised National Youth Policy. Its development was spearheaded by the Ministry of Youth, Sports and Culture during the review process of the National Youth Policy (2004) and its accompanying Strategic Plan, which had reached the end of its five-year cycle.

The strategy was conceived as a response to the need for a coordinated framework to support and measure various entrepreneurial efforts being pursued by entities involved in youth entrepreneurship in Jamaica. It aimed to rationalize and synchronize existing policies, programs, and legislation to promote youth entrepreneurship while identifying and addressing gaps in the current support system.

In developing this strategy, the Ministry built upon existing initiatives and programs run by organizations such as the Jamaica Youth Business Trust (JYBT), Jamaica Youth Employment Network (JYEN), Jamaica Business Development Centre (JBDC), Young Entrepreneurs Association (YEA), Youth Entrepreneurship Programme (YEP), and the Young Americas Business Trust (YABT). This approach ensured that the strategy leveraged existing resources and expertise in the field of youth entrepreneurship.

What impact has been measured?

There is no available information about the impact of the Youth Entrepreneurship Strategy

Notes + Additional Context

The Youth Entrepreneurship Strategy is intricately linked to Jamaica's Vision 2030 National Development Plan, as it plays a critical role in achieving the plan's overarching goals of transforming Jamaica into a developed country by 2030. Vision 2030 emphasizes sustainable economic growth, social development, and improved quality of life for all Jamaicans.

The Youth Entrepreneurship Strategy supports these objectives by focusing on empowering young people through entrepreneurship, thereby addressing unemployment and fostering economic inclusion. By promoting entrepreneurship as a viable career path, the strategy aims to harness the potential of the youth population, encouraging innovation and business creation. This, in turn, contributes to economic diversification and resilience, key components of Vision 2030.

Additionally, the strategy aligns with Vision 2030's focus on human capital development by integrating entrepreneurship education into the school curriculum and providing training and mentorship opportunities. These efforts help to equip young people with the skills and knowledge needed to succeed in the modern economy, thereby supporting the plan's goal of creating a globally competitive and productive workforce. Through these initiatives, the Youth Entrepreneurship Strategy helps to drive the socio-economic transformation envisioned in the Vision 2030 plan.

CURATED BY

Tom Hancock

Research Associate
Global Entrepreneurship Network
United Kingdom