Building Skills to Encourage Youth Entrepreneurship February 21, 2013 RICCentre By: Leah Jones Did you know that 71% of business owners will retire by 2020? With this impending decline, it is important to develop and support Canada’s young entrepreneurs to propagate innovation. Events like the National Business and Technology Conference include entrepreneurship competitions, providing students and young professionals the opportunity to launch themselves into the business world. The Management Study Guide promotes three youth entrepreneurship building skills necessary to facilitate a young entrepreneurial community: 1. What does Entrepreneurship Mean? It is essential to develop an understanding of what it means to be an entrepreneur in order to help students decide whether to pursue entrepreneurship as a career. This requires the inclusion of the entrepreneurial path as an occupational option in high-schools and university career centres, and the implementation and funding of dedicated training programs. 2. What Does Entrepreneurship Teach? Entrepreneurial training can sharpen young peoples’ business skills, including the ability to think creatively, manage resources, negotiate alternatives and manage processes. Role models can help students understand entrepreneurship is not just a job, but a state of mind. 3. What are the Personal Empowerment Skills Required for Entrepreneurship? Training can provide an essential entrepreneurial mindset through the development of mental skills such as positive thinking, stress management, objective reasoning and self-motivation. This leadership training can encourage students to think big for themselves and their peers, and bring all team members to their full potential. If you are interested in supporting Youth Entrepreneurs in the GTA, check out the National Business and Technology Conference March 8th and 9th 2013. If you or someone you know is a youth entrepreneur, contact the RIC Centre for access to fundamental mentoring services from our Entrepreneurs in Residence. Leah is completing her final year of the Visual Culture and Communications specialist program at the University of Toronto Mississauga and Sheridan College. She is interning at the RIC centre, bringing her experience in digital, print and website design. Leah is eager to begin a career in corporate communications after her graduation in June. The RIC blog is designed as a showcase for entrepreneurs and innovation. Our guest bloggers provide a wealth of information based on their personal & professional experiences. Visit RIC Centre for more information on how RIC can accelerate your ideas to market.