Thematic workshop in the framework of project Young Entrepreneurs Succeed!

The partners of the transnational “SCALING TRUST-BASED PARTNERSHIP MODELS TO RECHARGE YOUTH ENTREPRENEURSHIP: SUPPORTING UNDERSERVED COMMUNITIES WITH INNOVATIVE ENTREPRENEURSHIP SUPPORT INSTRUMENTS (TPM-RYE) PROJECT “ in collaboration with the Cooperative Bank of Chania organized a thematic workshop on providing business development services to youth who are Not in Education, Employment, or Training (NEETs). The thematic workshop held in Chania from September 4^th to 6^th 2019 was attended by the partners of the project, members of the Cooperative Bank of Chania and local business development service providers.The integrated methodology for supporting young entrepreneurs implemented by the Youth Business International (YBI) network in 51 countries around the world and KIZ, an expert in self-employment and professional reorientation, was presented during the workshop. In particular, the process of preparing and supporting a young entrepreneur during the business planning period as well as during its initial development phase was thoroughly discussed and analyzed.

Attendees, representing their stakeholders, agreed that a combination of financial and non-financial services is needed to increase the chances of viability of businesses set up by NEETs. Regarding financial services, the key point was the recruitment of appropriate business development agents, who will help NEETs’ businesses to be ready to receive funding from banking institutions to implement their business plans. Concerning non-financial services, the parties agreed that the support process should not be limited to prepare business plans and theoretical assessments but extended to entrepreneurs’ psychological preparation and linking financial predictions with real market research data.

The “Scaling trust-based partnership models to recharge youth entrepreneurship: Supporting underserved communities with innovative entrepreneurship support instruments (TPM-RYE) project”, benefits from €2,3M grant from Iceland, Liechtenstein and Norway through the EEA and Norway Grants Fund for Youth Employment. The aim of the program is to help unemployed youth access the labor market and promote entrepreneurship.

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