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The chapter examines the role of volunteer business mentoring in potentially improving financing and financial management in under-served (i.e. schemes aim to assist deprived neighbourhoods and youth entrepreneurs) youth enterprises.

Youth entrepreneurship (commonly defined as entrepreneurs aged up to 35 years) is regarded by the OECD as under-represented, within entrepreneurship as a general social phenomenon, and young entrepreneurs as disadvantaged through being under-served. Indeed, young people with latent potential for entrepreneurship have been defined as a component of ‘Missing Entrepreneurs’ (OECD, 2013). This under-representation of nascent entrepreneurs within young people under 35 is partly theoretical. While examining entrepreneurship as a social phenomenon and taking a resource-based approach (Barney, 1991), young people are perceived at a particular disadvantage compared with older members of society. That is, however creative, they lack the experience and network resources of older members.

Theoretically, from a demand-side perspective, young people may have aspirations and the required skills for start-up entrepreneurship, but are disadvantaged from a supply-side perspective since financial institutions, such as the commercial banks, private equity investors and other suppliers of financial debt and equity, will see greater risk combined with a lack of track record and credibility (pertaining to information asymmetries and associated agency and signalling problems: Carpenter & Petersen, 2002; Hsu, 2004; Hughes, 2009; Mueller, Westhead, & Wright, 2014). This means that aspiring nascent youth entrepreneurs face greater challenges in obtaining mainstream and alternative sources of finance. Practically, unless such young entrepreneurs can call upon deep pockets of the ‘bank of Mum and Dad’ or family and friends, we can expect them to resort to pragmatic methods of stretching their resources, such as financial bootstrapping and bricolage (Mac an Bhaird, 2010; Mac an Bhaird & Lucey, 2015). Although these theoretical and practical issues have long existed for youth entrepreneurship, they have only been exacerbated in the post-2007 Global financial Crisis (GFC) financial and economic environment, despite the growth of alternative sources such as equity and debt sources of crowdfunding.

There has been an evidence for some time that young people have a higher desire to enter entrepreneurship and self-employment as a career choice, in preference to other forms of employment (Greene, 2005). Younger people are also more positive about entrepreneurial opportunities. For example, a Youth Business International, Global Entrepreneurship Monitor (YBI/GEM) (2013) report indicated that in the European Union (EU), ‘younger youth’ were more positive in their attitudes to good business opportunities and in seeing good opportunities than older people. Theoretically, the issues of low experience and credibility can be mitigated by the role of advisors, consultants and/or volunteer business mentors. In corporations and large organisations, mentors are known to be valuable for early career staff (Clutterbuck, 2004; Haddock-Millar, 2017). By extension with young entrepreneurs, business mentors raise credibility, develop personal and professional competence, business potential and entrepreneurial learning. From a supply-side perspective, this reduces risk for financial institutions, potentially increasing the likelihood of receiving external finance and improving the likely returns and business outcomes of such financing.

In examining the role of business mentoring in youth entrepreneurship finance, the chapter poses three research-related questions (RQs):

To what extent is the youth voluntary business mentoring (VBM) associated with access to external finance?

Where access to external finance takes place, does the VBM improve the outcomes of the businesses?

To what extent do VBMs make a difference to the performance of businesses receiving financial assistance?

The chapter draws on primary evidence from an online Qualtrics survey of 491 (largely) youth entrepreneur mentees drawn from eight countries in the YBI network. These were selected for their contrasting high (Sweden and Spain), middle (India, Argentina, Chile, Russia and Poland) and lower (Uganda) income economies, global coverage of four continents and operation of established entrepreneurship mentoring schemes. The study provides collective quantitative data on the current relationship between mentoring and the access and impact of external finance. It surveyed current or recently completed mentees during Autumn 2016 – the typical mentoring cycle being 12 months. Additionally, the chapter draws on further qualitative insight evidence from face-to-face interviews, with current mentor-mentee case study pairings from the eight countries.

In summary, the profile of surveyed mentees demonstrated even gender distribution, with three-fifths currently in mentoring relationships. At the time of commencing mentoring, nearly four-fifths were aged under 35, half being self-employed, one quarter employed, with the remainder equally distributed between education and unemployment. At commencement of mentoring, mentee businesses were typically in early stages, either pre-start (37%) or just started trading (34%), the main sectors represented being business services (16%), education and training (16%), retail and wholesale (12%) and creative industries (8%), with the median level of own business management —one to two years.

For one-third of mentees, mentoring was compulsory, due largely to receiving enterprise finance support, whilst for the remainder, more than a quarter stated that access to business finance assistance was either considerably or most important in their choice to go on the programme.

In terms of business performance, businesses receiving external finance (loans or grants through the programme) or mentoring for business finance performed significantly better than the rest of the sample: amongst those trading 47% increased sales turnover, compared to 32% unassisted (<0.05 level); 70% increased employment, compared to 42% (<0.05); 58% directly attributed improved performance to mentoring, compared to 46% (<0.1).

The chapter provides both statistical and qualitative evidences supporting the premise that youth business mentoring can both improve access to external finance and lead to improved business performance. This provides useful guidance to youth business support, given that in some of the countries studied, external financing in the form of grants and soft micro loans for youth entrepreneurs are not available.

This study aims to examine the impact of social media (SM) on the creation of digital entrepreneurship by female (irrespective of age) and youth male (aged 18–29 years) entrepreneurs, investigate if SM empowers those entrepreneurs and compare the empowerment characteristics between female and youth male entrepreneurs before and after starting their businesses.

Self-assessment questionnaires were collected from a sample of 408 Egyptian female and youth male digital entrepreneurs from Greater Cairo, whose businesses had been operating for more than one year.

The research showed the following four results: Of the surveyed entrepreneurs, 95% asserted that without SM, they would not have started their businesses. Female and youth male entrepreneurs are empowered both on personal and relational levels, and women’s empowerment is more evident in the latter. Before digital entrepreneurship, youth males have significantly higher averages than female entrepreneurs in almost all empowerment characteristics, whereas after digital entrepreneurship, female entrepreneurs have significantly higher averages in making decisions related to investment, personal education and personal health, as well as those of other household members. Female entrepreneurs are relatively more empowered than youth males after digital entrepreneurship when each group is compared with its initial status.

This study’s originality stems from using a large sample of entrepreneurs, including youth males, not just females; employing a more structured, comprehensive measure of empowerment than found in the literature because it included the rarely used psychological dimension; considering more than one SM tool and comparing empowerment of females to that of youth males.

The purpose of this paper is to explore the extent to which entrepreneurial resourcefulness and competencies theories and practice can be applied in small youth entrepreneurship in Ghana as well as develop an entrepreneurial resourcefulness model for youth entrepreneurs that incorporates their competencies.

A qualitative exploratory approach using semi-structured in-depth interviews amongst 32 youth entrepreneurs in Accra, Ghana was used.

Youth entrepreneurial resourcefulness embraces some relevant concepts of traditional entrepreneurial resourcefulness and competencies. It also emerged that there were other competencies including discipline, understanding business numbers and being empathic which are competencies associated with youth entrepreneurial resourcefulness.

This paper was limited to a small sample of youth entrepreneurs in Ghana; thus, the generalisation of findings should be done with care.

A “3Ps” model for entrepreneurial resourcefulness in youth micro-entrepreneurship is proposed, which encompasses the attributes of personal, people and political competencies. This paper is one of the few attempts to study and explain the type of competencies and resources embedded in youth entrepreneurial resourcefulness.

The practice of social entrepreneurship has grown rapidly around the world, including in Malaysia where it is still considered to be at an early stage. Nevertheless, little is known about the career transition among youth who choose careers as social entrepreneurs. The purpose of this study is to explore the challenges faced by youth social entrepreneurs who run social enterprises in Malaysia.

This study used a qualitative approach to collect and analyse data to answer the research questions. Seven youth social entrepreneurs were interviewed until data saturation was met. An interview guide was created for the purposes of conducting the interviews. The interviews were recorded using a voice recorder. Data were transcribed verbatim and grouped in order to identify the codings, categories and themes.

The findings show the career transition to become a social entrepreneur, as well as the major challenges that youth social entrepreneurs face, which include acclimatising to the life and career of a social entrepreneur and not getting support from family.

The study findings are also significant for presenting valuable data on the experience of the developing social entrepreneur. The qualitative nature of the study provides valuable experiential insight into the lives and struggles of young social entrepreneurs in Malaysia. The findings will allow local authorities and social entrepreneurship regulatory agencies to design initiatives and plan actions intended to overcome the challenges.

This study makes an original contribution by showing that the process of career development as a social entrepreneur has given meaning to the informants. Despite presenting many challenges, social entrepreneurship has reinforced the role of youth social entrepreneurs, especially in relation to social responsibility.

Entrepreneurship is promoted as a solution to high rates of youth unemployment around the world and especially in the Middle East and North Africa (MENA). This paper investigates the potential for youth entrepreneurship to alleviate unemployment, focusing on Egypt, Jordan and Tunisia.

The authors examine who entrepreneurs are (in comparison to the unemployed), using multinomial logit models. The authors compare entrepreneurs' and wage workers' working conditions and earnings. They exploit panel data to assess earnings and occupational dynamics. They specifically use the Labor Market Panel Surveys of 2012 (Egypt), 2016 (Jordan), and 2014 (Tunisia), along with previous waves.

The authors find that entrepreneurs are the opposite of the unemployed in MENA. The unemployed are disproportionately young, educated and women. Entrepreneurs are older, less educated and primarily men. Entrepreneurship does not generally lead to higher earnings and does have fewer benefits.

Promoting youth entrepreneurship is not only unlikely to be successful in reducing youth unemployment in MENA, but also, if successful, may even be harmful to youth.

Despite the increasing number of small and medium enterprises pursuing international opportunities and penetrating global markets, international entrepreneurship literature has paid limited attention to emerging markets and entrepreneur-specific factors that influence internationalisation. Traditional internationalisation theories and international entrepreneurship theories consider organisation as the unit of analysis and lack sensitivity to the context, which influences ventures’ foreign market decisions. Moreover, only a handful of studies related to internationalisation in emerging markets are available. To address this gap, this chapter explores barriers and drivers for SMEs’ internationalisation in Sri Lanka, an emerging market. Semi-structured interviews with forty Sri Lankan youth entrepreneurs suggest structural barriers consisting of access to capital, legal restrictions and lack of legal, institutional and government support were prominent. These barriers suggest a need for policy changes in the entrepreneurial environment, finance, entrepreneurial culture and skill development, technology, research and development and regional balance. The findings also indicate that information communication technology is a driver for internationalisation.

The paper sought to make contribution to youth entrepreneurship research field. This is because whilst youth entrepreneurship presents enormous socio-economic benefits, including economic growth, diversification, innovation and poverty elimination earlier research have paid more attention to adults' entrepreneurship with less attention been paid to youth entrepreneurship resulting in a compelling research gap following the present huge youth unemployment across the world. Consequently, the motivation of the paper is to guide public policy and practice on the promotion of youth entrepreneurship, especially in developing countries.

The study employs the survey research design based on logistic regression analysis as the key analytical technique to examine data. The choice of the logistic regression model is due to the fact that the main research question that informs the study is a dichotomous one. Hence it was found appropriate to select the logit regression model based on similar works in the field.

Over all, the results show that lack of financial support from one's family background, early entry into formal employment, as well as being born into entrepreneurial dominated families significantly predict the probability of a youth considering entrepreneurship as an attractive life venture.

The study is based on non-probability sampling method and so readers must bear that in mind when they are interpreting the results.

Following from the findings, one of the practical implications is that youth entrepreneurs must align the external influences to the internal capacity of the businesses to initiate and/or start sustainable entrepreneurial ventures.

The study sheds light from an under-explored and new geographical context to advance existing knowledge in the field.

The purpose of this paper is to assess the level of financial literacy and impact on youth entrepreneurship in South Africa.

The paper used both desk research and questionnaire complemented by interview to assess the level of financial literacy among youth entrepreneurs in the Vhembe District of the Limpopo Province, South Africa.

The paper reveals that financial literacy among youth entrepreneurs in the Vhembe District appears to be above average and contributes meaningfully to their entrepreneurship skills.

Further research is needed to verify in specific and practical terms, the level and impact of financial literacy on youth entrepreneurs in the Vhembe District.

Education and training at both high school and tertiary levels with emphasis on financial literacy and entrepreneurial skills may have significant implications for small‐, micro‐, and medium‐sized enterprise development and growth for the youth entrepreneur in general in South Africa.

The paper is the first to examine the level of financial literacy among youth entrepreneurs in the Vhembe District. The paper therefore sets an important benchmark for further research in this area.

Using resource-based theory as a base, this paper aims to analyse the moderating role of entrepreneurial education on the relationship between psychological (perseverance and fear of failure) and social (family support and role models) factors as they related to entrepreneurial readiness among female youth.

A sample of 1914 female youth who have pursued a formal entrepreneurial course was used to understand the relationship and its impact on entrepreneurial readiness. Liner regression technique was used to understand the hypotheses set for the study.

The results signify a positive impact of perseverance and family support for entrepreneurial readiness, while that of fear of failure was negative, role models were positive but non-significant. Entrepreneurial education was key for enhancing psychological and social factors abilities for female youth entrepreneurial readiness.

The cross-sectional data collected from females in an urban area makes the generalisation of the findings challenging.

Policymakers and academia are to be cognizant of the fact that formal entrepreneurial education is a contributor to entrepreneurial readiness.

This study adds to the paucity of research on entrepreneurial readiness of female youth in developing economies like Ghana with the identification and explanation of its antecedents as well as situating it in both resource-based view and social capital theories.

The purpose of this study is to establish whether all the dimensions of entrepreneurship skills matter for sustainable business start-up among the youths, using evidence from a developing economy.

This was cross-sectional study which utilized a quantitative approach. Data were collected using a self-administered questionnaire from 254 youths who undertook skills training at the various government-supported business skills training centers in the Greater Kampala Metropolitan Area (GKMA), that is to say, Kampala, Mukono and Wakiso. Data collected were analyzed using the Statistical Package for the Social Sciences (SPSS) to derive descriptive, correlational and hierarchical regression.

Study findings indicate that unlike entrepreneurial skills, management, technical and personal maturity skills matter for the sustainability of business start-up of youths in Uganda. However, when all skills are compared, management skills matter most as compared to technical and personal maturity skills.

This study strengthens the existing literature on the sustainable business start-up of youths in Uganda. It is also relevant for policy decision-making and policy reversal because it demonstrates that skilling is pertinent and should be encouraged and rolled out across the country to encourage sustainable youth business start-ups. To increase sustainable business start-up among youths, management skills should be prioritized, together with technical and personal maturity skills, compared to entrepreneurial skills, which should only be emphasized at the idea generation, planning, resource mobilization and business implementation stages.