Description
Abstract
Purpose of this paper: The purpose of this paper is to examine youth entrepreneurship and the extent to which the current status of micro-financing is available in the Caribbean. The study aims to expand the domain of youth entrepreneurship by recommending a suitable framework.
Design/methodology/approach: The paper opted for an exploratory study approach. It entailed a literature review of youth entrepreneurship, financial education, entrepreneurship education and youth financing. The author uses data from the GEM National Expert Survey. The survey is administered to 36 or more experts in each of the Caribbean countries. The descriptive statistics were analyzed and the results were used as the foundation for drafting conclusions and recommendations.
Findings: The findings highlighted that debt finance followed by government subsidies were perceived as most accessible financial instruments, while IPO funding was viewed as the least accessible micro-financing instrument.
Research limitations/implications (if applicable): The main limitations in this research are that in the GEM National Expert Survey, the questions on finance are broadly construed.
Practical implications (if applicable): The paper includes implications for the development of a more comprehensive assessment of the financial needs of youth. Plus there is a need to streamline financial education throughout more curriculums.
What is original/value of paper: This paper fulfils an identified need to study youth entrepreneurship in developing economies like the Caribbean.
Key Words: youth, entrepreneurship, development, micro-finance, economy, GEM, Caribbean
