Data published in the annual YBI Network Review has revealed that YBI members helped 18,949 young entrepreneurs to start and grow a business in 2014. The Network Review provides a snapshot of activity across YBI's community of member organisations in more than 40 countries. Each of these 18,949 young people received bespoke support from a local YBI member organisation.
Read the report here.
At the heart of the YBI’s global approach is the belief that young people are more successful in businesses when they are provided with coordinated support that includes access to capital, business training and the advice of a volunteer mentor. Although YBI members adapt the support they offer based on local context, it is this method that sits at the heart of the YBI approach.
Data from the YBI network shows that businesses started by entrepreneurs who receive support in this way have a greater chance of success than other comparable startups. These entrepreneurs are people like Edinaldo Souza (pictured) from Curitiba in the south of Brazil. With a skill and passion for bicycle repair, Edinaldo was generating a small income fixing one bike at a time. He lacked the working capital to stock the supplies he needed so whenever a new bike came in, he would buy the parts individually.
In order make his business grow, Edinaldo borrowed around US$350 from Aliança Empreendedora, YBI’s member in Brazil. This small loan was transformative for Edinaldo, allowing him to buy more parts at a better price. In turn this saved him time and allowed him to repair more bikes, increase the size of his workshop and set his small business on the path to sustainable growth. Like many of the entrepreneurs supported by the YBI network, a relatively small capital investment had an immediate and transformative impact on his life and business.
In addition, more than 65,000 aspiring young entrepreneurs were given practical skills based training that exposed them to the opportunity of entrepreneurship and improved their chances of finding employment or starting their own business in the future. Read the Network Review.