The Influence of Entrepreneurship Training and Financial Grant on Youth-Owned Enterprises in Somalia

Abstract

Entrepreneurship and business creation are a growing alternative for young people whose age group often faces a labor market with double digit unemployment rates. It plays a crucial role in driving economic development and job creation. The study therefore sought to establish the effects of entrepreneurship training and financial grant on youth-owned enterprises.Descriptive research design was selected in this study because it would allow the researcher to gather numerical and descriptive data to assess the relationship between variables. Simple random sampling was used to select a total of 83 youth enterprises for a population of 110 youth entrepreneurs. Questionnaire was used as the main data collection instrument and statistical packages for social sciences was employed for coding and analyzing the data. From the findings of the study it was that the trainings provided helped the enterprises of the youth and that they got an idea of establishing plans and managing businesses. The entrepreneurship promotions of youth in Somalia enhanced the youths’ living condition, and that they get economic freedom of which they can also help with their households, the creation of the job enabled the youth to cover their needs, also the grants offer foundation as the business starts.In conclusion the knowledge spillover theory of entrepreneurship posits that entrepreneurship is a response to investments in knowledge and ideas by incumbent organizations, Entrepreneurship development is the process of improving the skills and knowledge of entrepreneurs through various training programs.  The provision of training and grants empowered the youth to fight with poverty. The study recommended that the entrepreneurship training programmes should be repeated for the youth and that the Entrepreneurship development programs should first identify the local market. It is recommended to analyze and then design unique ideas based on the needs of the surroundings.

Keywords: entrepreneurship, entrepreneurship training, youth.