3.11 Current debates and reforms
Youth face barriers to entrepreneurship in the areas of social attitudes, lack of skills, lack of work experience, under-capitalisation, lack of networks, and market barriers.
The GUESSS (Global University Entrepreneurial Spirit Students' Survey) study conducted in Lithuania in 2021, in which 2154 students from higher education institutions throughout the country - 12 universities and 17 colleges - participated, showed that:
1) Lithuanian students feel the lack of practical skills that can really help to establish and manage a business. The concept of "learning through experience" could help to solve this problem;
2) almost half - 40 percent. - Lithuanian students would like to start a business, but postpone it for the further future, i.e. for at least five years after graduating from high school;
3) Lithuanian students lack courage and self-confidence;
4) students, when assessing opportunities for business management, rate lower their product development, innovation management or general business management abilities.
Experiential learning is especially needed for entrepreneurial students.
The data of the GUESSS survey are valuable in the preparation of entrepreneurship promotion measures. One of the measures intended for young people is the "Laboratory of business development and ideas for youth (up to 29 years old)", which will be opened in 2023. it is planned to be implemented through the Public Enterprise "Innovation Agency". The laboratory is dedicated to ensuring the continuity of the development of entrepreneurial competences of young people, encouraging them to create their own businesses and testing business ideas (hypotheses). This measure will extend from 2021. the 9-12th grade schoolchildren's entrepreneurial competence development program is being implemented, as young people will be encouraged to continue creating their own business, test their business ideas, and secure the opportunity to work independently in the future.
It is very important to promote the partnership of Lithuanian business enterprises and educational institutions, because in this way students and teachers get a feel for real business life, see real examples of how a business idea is implemented, its development stages and results. Only by effectively educating secondary school students will we be able to wait and enjoy their achievements in business.