The Pursuit of Entrepreneurship by Youths in the Caribbean

Abstract

Youth entrepreneurship is being promoted by policymakers in developing countries as a key strategy to combat high youth unemployment, reduce individual poverty, engender social mobility, and facilitate youth inclusion in the formal economy. International, regional, national, and other stakeholders have promulgated policies and programs to lend support for this strategy. This article utilized data derived from a survey of youth entrepreneurs conducted in the town of Linden, Guyana, together with agency interviews from the same community and from national agencies involved in youth entrepreneurship to fulfill its objectives. The survey and agency interviews are part of a broader mixed method study conducted by the authors aimed at understanding the factors impacting youth entrepreneurship in Guyana, a developing country in the Latin American and Caribbean (LAC) region. The importance of the survey to this study is to discern what youth entrepreneurs themselves say about their businesses and about themselves as entrepreneurs. This paper adds to the sparse literature on this phenomenon. The intent of the authors of this study is multi-faceted. This paper seeks to provide an understanding of who these young entrepreneurs are, the factors that motivate them to start their own businesses and their preparedness for such ventures. We explore and explain the support provided to youth entrepreneurs, their access to and perceptions of such support. Thirdly, we provide an understanding of how youth entrepreneurs view the successes and positives of their businesses and their intimate feelings and fears about their ventures. This paper challenges the prevailing “necessity entrepreneurship” framing of youth entrepreneurship.