For the more than 280 million young people worldwide not in education, training, or employment,5 there are two main sides to economic exclusion.
Demand side: The first relates to the individual. While the rate of school completion has risen steadily over the past 30 years,6 many young people still lack the skills and confidence needed to enter and remain in decent employment. They’re also often unaware of how to plan for a secure, independent future.
Supply side: On the other hand, companies can struggle to find young people with the right balance of technical and soft skills. This tends to hit small and medium enterprises (SMEs) the hardest. SME growth can also be accelerated through the creativity and innovation provided by a diverse and youthful workforce. While SMEs contribute to more than 50 per cent of employment worldwide,7 they often lack resources to invest in hiring young people.