Measures supporting business start-ups (September 2023)
Facilitating youth business initiatives
One way to foster youth employment is supporting young people in developing their own businesses. EU Member States have agreed on setting up advisory, mentoring and coaching measures to support young people’s innovative and entrepreneurial capacities They have also pledged to devote appropriate funding to help young people establish their companies.
Against this backdrop, the map shows that in the vast majority of countries measures exist to provide young people with information on business opportunities, with coaching by experts, and with networking occasions with representatives of the business sector. Programmes often offer free counselling to support young people in developing their business plans and to obtain credit. In some cases, young people have access to “business incubators” where they can set up a trial company with the consultancy of trainers.
Financial support is also common across countries. Microcredits, low interest loans, and grants are the most frequent channels of funding. In some countries, private actors are encouraged to invest in young start-ups. Sometimes funding is destined to specific target groups in the youth population, such as young women, young farmers and the long-term unemployed.