The world is facing a huge job shortage. Some 600 million jobs need to be created between 2012 and 2030 to support the growing global workforce.2
Micro, small, and medium enterprises (MSMEs) are the main GDP-contributors to developing and emerging economies, where most of these new jobs will be needed. Supporting the development of these MSMEs will therefore be vital to filling the gap.
Yet young people in these markets have long faced barriers to starting and sustaining a business. They often have inequitable access to finance, limited relevant knowledge and skills, and a lack of self-confidence.
Looking ahead, young entrepreneurs face even more challenges. The technologies of the Fourth Industrial Revolution have created a ‘reskilling emergency’: almost one-third of all jobs globally will be transformed and require reskilling by 2030.3 Climate change also weighs heavily on future generations, who face an uncertain environmental future.
