August 30, 2017

Youth Entrepreneurship Support (YES) Programme

Africa
Early Implementation
Description of the core change(s) brought by this policy instrument

The YES programme is aimed at equipping young people with the requisite skills and knowledge to be self-employed by starting and managing their own businesses.

Please list the implementing agencies

Bank of Industry Nigeria (BOI)

Lifecycle of target firms for this policy instrument
Start-up firms
Support offered
Non-financial Support
Level of intervention
Entrepreneur-level
Barrier(s) addressed with this policy tool
Skills & training: entrepreneurial skills
Abstract summary of this Policy resource

The YES-Programme is comprised of the following components:

  • Eight (8) weeks extensive online Entrepreneurship and Business Management training which has the ability to test participants’ understanding and track their progress.
  • Five (5) days in-class Entrepreneurship and Business Management training covering the following five (5) modules:
  • The business idea (value proposition & competition analysis)
  • Business model (how will the business make money)
  • Sales and marketing
  • Running a successful business (ethics, compliance, operations, etc.)
  • Financial plan
  • Technical skills training in partnership with the various technical training and vocational institutes in the country.
  • Financing of the businesses by BOI under its SME Cluster initiative in consonance with the United Nations Economic Commission for Africa’s Commodity-based Industrialisation Strategy.

Participants will be drawn from young aspiring entrepreneurs between the ages of 18 and 35 years, with innovative ideas who must have a minimum educational qualification of an Ordinary National Diploma (OND).

Stated goal/metrics of the policy instrument

The fund shall be deployed to support the establishment and/or expansion of an estimated 5,000 enterprises promoted by Nigerian youth across the country. The scheme is expected to create a minimum of 20,000 direct jobs and 30,000 indirect jobs annually, totaling 60,000 jobs.

The YES-Programme has the following broad objectives:

  1. To create an interactive learning platform to train young aspiring entrepreneurs in Entrepreneurship, Business Management and Technical Skills that will ultimately translate into improved efficiency and productivity.
  2. To kindle the entrepreneurial spirit of the youth.
  3. To act as an incubation center where business ideas are nurtured to their full potential as well as entrenching global best practices by inculcating a culture of innovation-driven entrepreneurship and ethics in the programme participants.
  4. Promotion of self-employment among graduates of institutions of higher learning, thereby changing their job-seeking mindset.
  5. To deepen financial inclusion by de-risking the young aspiring entrepreneurs and making them eligible for small business loans to be provided by BOI.
Geographic scope
National-level