YouStart initiative Application Begin in March

By | November 17, 2021
May be an image of text that says 'Government's YouSturt policy The YouStart initiative will support young entrepreneurs to gain access to capital, training, technical skills and mentoringto enable them to develop commercially viable businesses. In partnership with the Finance Institutions and Development Partners, YouStarti designed to instill proper commercial orientation in the beneficiaries @MoF_Ghana @moigovgh #YouStart @GhanaPresidency I @NAkufoAddo'

Gov’t to create 1m jobs with YouStart initiative

The government has announced the creation of one million jobs for the youth of this country.

This was announced by the Finance Minister Ken Ofori Atta in the budget statement for the 2022 fiscal year on Wednesday November 17.

He said “The understanding of the youth employment challenge, as well as extensive consultations with stakeholders including youth associations and educational institutions across the country, have led to the development of the YouStart initiative
which proposes to use GH¢1 billion each year to catalyze an ecosystem to create 1 million jobs and in partnership with the Finance Institutions and Development Partners, raise another 2 Billion Cedis.

“In addition, our local Banks have agreed to a package that will result in increasing their SME portfolio up to GHC 5 billion over the next 3 years.

“This, Mr. Speaker results in an unprecedented historic 10 Bn Cedis commitment to the private sector and YouStart over the next 3 years.

“Mr. Speaker, YouStart is a vehicle for supporting young entrepreneurs to gain access to capital, training, technical skills and mentoring to enable them launch and
operate their own businesses.

“Mr. Speaker, the Ghana Enterprises Agency (GEA), the National Entrepreneurship and Innovation Programme (NEIP), and partner financial institutions, will serve as the implementing arms of YouStart.

“Entrepreneurs will be able to apply for support through a dedicated YouStart online portal.

“NEIP will also engage our Faith-Based Organisations as partners for the delivery of essential artisanal skills, business competitions, and feasibility studies and introduction to financing institutions with a commitment of up to 10% of GOG contribution to the YouStart Programme.”

May be an image of text that says 'Government's YouSturt policy Through the Ghana Enterprises Agency (GEA), the National Entrepreneurship and Innovation Programme (NEIP), Government will implement YouStart. A vehicle that proposes using GHC 1 billion to create 1 million jobs in entrepreneurship for young Ghanaians @MoF_Ghana @MoF #YouStart @moigovgh @GhanaPresidency @NAkufoAddo'
May be an image of text that says 'Government's YouSturt policy Within the next three years, Government aims to build a Sustainable Entrepreneurial Nation. In the pursuit of this objective, we will address challenges our existing and aspiring entrepreneurs face, such as; access to credit and finance, regulatory and tax burden, lack of skills as well as mentorship. @MoF_Ghana @moigovgh #YouStart @GhanaPresidency I @NAkufoAddo'
May be an image of text that says 'Government's YouSturt policy YouStart plans to support youth-led enterprises with the following products: -Starter packs (Soft loans tied to equipment acquisition) of up to GH$50,000 forindividuals and GH$100,00 for assoations/g -Astandardised loan package of between GH$100,000 to GH$400,000 at concessional rates for SMEs through financial institutions; #YouStart @MoF_Ghana @moigovgh @GhanaPresidency I @NAkufoAddo'
May be an image of text that says 'Government's YouSturt policy YouStart plans to support youth-led enterprises with the following products: Disict Level Loans under 10 000 GHC after 2-3 months oftraining. Soft loans of up to GH$50,000 to help start-ups (particularly by young graduates and schoolleavers) and small businesses to expand. @MoF_Ghana #YouStart @moigovgh @GhanaPresidency I @NAkufoAddo'
May be an image of text that says 'Government's YouSturt policy Within the next three years, Government aims to build a Sustainable Entrepreneurial Nation. In the pursuit of this objective, we will address challenges our existing and aspiring entrepreneurs face, such as; access to credit and finance, regulatory and tax burden, lack of skills as well as mentorship. @MoF_Ghana @moigovgh #YouStart @GhanaPresidency I @NAkufoAddo'
May be an image of text that says 'Government's YouSturt policy Through the Ghana Enterprises Agency (GEA), the National Entrepreneurship and Innovation Programme (NEIP), Government will implement YouStart. A vehicle that proposes using GHC 1 billion to create 1 million jobs in entrepreneurship for young Ghanaians @MoF_Ghana @MoF #YouStart @moigovgh @GhanaPresidency @NAkufoAddo'