Young

Entrepreneurs

Team name:

:::Optimus Prime:::Countries: Montenegro and AlgeriaSchool: University of Montenegro,University M'hamed Bougara Boumerdes Mentor: Vulić Vladimir, MA

Causes of Unemployment• The unemployment rate of 18,8% (40,1% for

youth between 15 and 25 years) prove the fact that unemployment in Montenegro is a very serious problem.

• There are several reasons for that sate:

Education

Corruption and Nepotism

Not enough foreign investments

Causes of Unemployment• Based on surveys we came to

conclusion that awareness and interest for opening new businesses and working for private business is very small. 68% of all students in Montenegro would rather work in public sector for salary of €450 then in private sector for much higher salary (€750)

• This is because of the smaller risk regardless the smaller salaries they have but from workers perspective the salaries are on time and regular.

Source: "Human Capital", UNDP Human Development Report 2012

• Even if some of them decide to set up a startup, there are a lot of barriers which cause a withdrawal from market and increase of unemployment rate.

Some of the main reasons are:• Buirocracy – too much time is wasted on gathering all the papers that are

needed for establishing a startup • Risks taking – People are not willing to take any risks, they prefer to plat

safe• Lack of education - the emphasis are on theoretical knowledge, not on

practice• Lack of ambition – settling for much smaller then they can do and that

they can really achieve• Finance problems – financial institutions prefer helping already

established firms and firms that are stabile

Causes of Unemployment

Fighting the unemployment - NGO

• who don’t have a chance to be shown or start their ideas

• who don’t know whom to proceed to,

• don’t have an opportunity to create their own startups/companies,

Giving them support and educating them to become more successful in further job seeking.

Our suggestion of how to solve this problem is establishing a NGO that will be focused on youth who are interested in entrepreneurship but:

NGO• Our NGO would have two focus

groups:

Head of NGO

Teenagers

students in elementary

school

students in high school

Youth between 18 and 30 years

Teenagers We would organize the workshops. The main aim of these

workshops is to bring entrepreneurship closer to teenagers. Workshops will cover the following topics:

characteristics of entrepreneurs

business ethics

business and management

innovation management

writing business plans

Youth between 18 and 30

• This group will be provided with a training in management and projects realization.

• They would have the opportunity to learn the required skills for planning and fulfillment of a project, with local and international trainers.

• We would provide them internships in a local company (related to their ideas and interests)

• They would have our full support • Our NGO would organize different types of

competition and few best amog participants will be granted a support in form of money, guidence, mentorship and consulting for opening the startup

All youth can get from joining our NGO!

• Skills that young entrepreneurs can master, and which will prepare them for cut-throat competition on labor market

• The possibility to get in touch with domestic and foreign specialists from all different fields which will help them when opening a new startups/companies

• Youth that would go trough our programs will be able to manage risks, resources and information.