Youth Entrepreneurship

Starting September 1, 20223 months

youth entrepreneurship

Deja Monroe, Chairperson

Youth entrepreneurship as defined by Francis Chigunta from the University of Oxford, is the “the practical application of enterprising qualities, such as initiative, innovation, creativity, and risk-taking into the work environment (either in self-employment or employment in small start-up firms), using the appropriate skills necessary for success in that environment and culture.”

Youth’s natural disposition for innovation and change make young people well suited for entrepreneurship, provided the community can give youth the right support to overcome their challenges and improve their odds of success. A city’s economic development benefits from youth entrepreneurship in terms of employment creation, product and service innovation, market competition, community revitalization, and income generation. Youth entrepreneurs face greater challenges then adult entrepreneurs, and therefore would benefit from talent development programs to support them with skills, mentoring, networking, and access to resources in order to increase their rate of success.

Illinois State Black Chamber of Commerce
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