Empowering Youth through Entrepreneurship Training: A Systematic Review and Evaluation of Socioeconomic Impact

Abstract

Entrepreneurship plays a crucial role in economic development, job creation, and youth empowerment. This study aims to assess the impact of entrepreneurship training on job creation and the empowerment of young individuals, with a focus on regions facing significant socioeconomic challenges. The study utilizes a systematic approach, drawing on secondary data from various sources, including scholarly works and program evaluations. The research begins by examining the importance of entrepreneurship in societal rejuvenation, wealth creation, and the cultivation of an entrepreneurial culture. It acknowledges the efforts of governments and institutions in integrating entrepreneurship courses into academic curricula to equip young individuals with essential skills for new business ventures. However, it also highlights challenges such as declining start-ups among youth due to a lack of entrepreneurial skills. The study delves into Spain's Youth Guarantee Plus Plan as an example of proactive measures taken to foster youth entrepreneurship and address unemployment. It discusses the program's objectives, strategies, and implementation to enhance youth employability and promote entrepreneurship. Furthermore, the study evaluates entrepreneurship education programs and their effectiveness in promoting entrepreneurial skills, self-efficacy, and personal initiative among students. It examines existing literature on entrepreneurship training's impact on job creation, economic growth, and poverty alleviation, emphasizing the role of psychological empowerment in enhancing performance and adapting to workplace changes. Through a systematic review and analysis of relevant studies, including the Youth Action Research Project (YARP), the Youth Leadership Program (YLP), and the Questscope Non-Formal Education (QS NFE) program, the study aims to provide insights into the effectiveness of entrepreneurship training in addressing socioeconomic challenges and empowering youth. The findings and discussions from this study contribute to the ongoing discourse on entrepreneurship, job creation, and youth empowerment, offering recommendations for comprehensive training programs, policy interventions, and educational initiatives to promote entrepreneurship as a catalyst for socioeconomic development and empowerment.