From classroom to boardroom: Promoting entrepreneurship among underserved youth

We’re living in a world that is constantly changing and requires adaptability and innovation. Add to this the record high economic inactivity, and it’s clear that engaging young people in the world of work isn’t solely crucial to their own development, but to that of the global economy. More importantly, it’s crucial we don’t forget underserved communities and youth, and ensure they receive access to education, including entrepreneurial skills, writes Salvatore Nigro, CEO JA Europe and Silvia Cappellini, General Manager, UniCredit Foundation.

9.5% of young adults in the EU were not in further education or training in 2023, and 7.7% of young women and 11.3% of young men were dropping out of school early. This means that many young individuals may not have had the same opportunity to develop relevant skills to find their footing in the working world or find the right motivation to pursue a career they were passionate about.

Not all students will thrive in the same areas, and by creating a curriculum that focuses on transferrable life lessons and skills, we can help encourage all students to find a passion in learning. Incorporating entrepreneurial skills into school curriculums and improving accessibility to these types of initiatives can adequately prepare young people to navigate the challenges of today’s working landscape and motivate them to pursue careers they are truly passionate about, all while contributing to personal growth.Ultimately, entrepreneurial skills give young students the power to rediscover their ability to create and be a part of something meaningful while learning how to collaborate with others.

Building entrepreneurial programmes in schools

Entrepreneurial initiatives and programmes are great for fostering new skills in young students and helping them adapt to new environments, all while boosting creative thinking and performance. Some students may find it difficult to thrive under a traditional curriculum, feeling restricted to specific subjects that do not align with their strengths. Without opportunities to learn skills that support future careers, such as entrepreneurship, alongside their regular schoolwork, students may become disengaged and consider leaving school early. They need the chance to develop abilities they are passionate about and wish to pursue.

More importantly, entrepreneurial programmes are shown to reduce dropout rates, as they allow students to learn by doing, and focus on their future careers and success rather than only their schoolwork and their results. The recently launched ‘Re-Power your Future’ initiative by JA Europe and UniCredit Foundation is an example of a programme that is dedicated to inspiring and preparing young people to succeed in their working life, helping them explore new areas of interest and in turn, help reduce early drop out rates.

Introducing these learnings early – by including them in the school curriculum or offering them alongside it – will allow youth to become more comfortable solving complex problems and business-related challenges through rational thinking. These are the types of skills that will be crucial to contributing toward a more entrepreneurial culture across Europe’s talent pool and encourage a larger range of students to participate.

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The most important part of an entrepreneurial programme in a school is to ensure it aligns with needs and interests of the individual students, while taking into account how the skills they are teaching will transfer in the future This is particularly important when targeting underserved youth, as these types of programmes allow for a tailored approach to learning rather than only following a one-size-fits-all traditional curriculum.

When it comes to entrepreneurship, it’s not solely about learning how to successfully run a business. While it is vital to allow students to gain valuable hands-on experience in order to understand the intricacies of management, marketing and finance, it’s the soft skills that they acquire throughout the process that will help them in the future. These include the ability to be flexible, listen actively, participate in team work and develop a positive attitude toward learning In the long run, this kind of practical learning allows young individuals to face challenges head on and understand how to problem solve in their daily personal and professional lives.

Improving financial proficiency and confidence

Past research has shown that low financial literacy can lead to poor economic outcomes in the future, including debt, so it is vital that children are taught from a young age how to navigate this field, especially if they are from underserved communities. This will help them maneuver their future careers and lives with more confidence.

More importantly, entrepreneurship will allow students from different backgrounds to better understand how to handle the complexities of personal and business finances, particularly with regards to rising living costs, economic disparities, high scam risks, etc. This will not only future proof the economy, but also help reduce mental distress and improve confidence in young people when it comes to dealing with their finances in the long run, creating a more confident and efficient generation.

Fostering inclusivity in the classroom and beyond

It’s important we foster a more inclusive mindset within all aspects of entrepreneurship. By building a curriculum that focuses on teaching the necessary skills for entrepreneurs, schools can foster inclusivity in their classrooms and encourage all students to show interest in building these careers, particularly in underserved communities.

Already, there has been an increase in individuals breaking common stereotypes and building innovative businesses. This trend can certainly continue if schools take the time to incorporate relevant entrepreneurial skills and lessons into their curriculums. This way, all students can be given the opportunity to foster the necessary, transferable skills and spark a passion for creating their own businesses.

Ultimately, teaching entrepreneurship to all young people, particularly focusing on underserved communities, prepares students for the challenges of the modern world and empowers them to contribute to economic growth and innovation, while fostering independence and confidence. Offering these skills to young people will make the world of work feel more accessible to everyone and help create a new generation with confidence and a passion for business while challenging current norms to be more inclusive. In turn, this can not only help young people to think more creatively and work toward their goals but will also boost the economy across European countries and contribute individuals with new and necessary abilities to the talent pool, regardless of their backgrounds.

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