Lockdown and social distancing, reduced demand, disrupted supply chains and other challenges have forced many to close their business. Others are only just surviving.
With typically tight margins, small businesses are particularly vulnerable. Without support, they are likely to be wiped out. And yet, these businesses play a driving role in local economies – creating jobs and providing much-needed products and services. They are critical to the long recovery ahead.
Youth Business International is responding to the economic impact of COVID-19 by adapting and scaling our ongoing work in over 50 countries. Through our global network, we are providing targeted crisis support to young entrepreneurs so they can identify the right solutions and get back on their feet.
As part of these efforts we launched two new global initiatives in April 2020: SOS Mentoring matches young entrepreneurs with quality mentoring support. Our Rapid Response and Recovery Programme with Google.org is supporting over 200,000 businesses in 32 countries. We continue to seek opportunities to reach and support more young entrepreneurs.
Our learning paper “Responding to the Needs of Young Entrepreneurs” shares insights and actions from seven months of COVID-19 crisis support.
Youth Business International has been supporting small and medium businesses for the last 20 years, including responding to emergencies such as the global financial crash of 2008 and the hurricanes in the Caribbean. Entrepreneurship is more vital now than ever as we face an economic crisis like never before.
Find out how your organisation can support Youth Business International's global COVID-19 response.