This archive report was first published on 29 November 2019.
On November 29, 2019, the Building Bridges Initiative (BBI) report was released, sparking a national conversation about its recommendations for youth entrepreneurship and job creation. As a journalist, I had the opportunity to discuss the report with a group of young entrepreneurs who had mixed feelings about its suggestions.
One of the key recommendations of the BBI report is to 'nurture and open opportunities for children and youth to show their initiative, innovation and entrepreneurship.' This includes a tax holiday of at least seven years for new and small businesses, as well as an indigenous ease of doing business index for small Kenyan businesses. The report also proposes providing aspiring entrepreneurs with mentorship in business through a foundation chaired by the president.
These suggestions sound promising, especially for young Kenyan entrepreneurs who pour their hearts and souls into their small businesses. However, there is a glaring gap in the report's recommendations. Young entrepreneurs I spoke to pointed out that one of the biggest challenges they face is the issue of unpaid services. Many clients fail to pay for services offered, leaving young entrepreneurs reeling in debt.
According to a recent study by the Aga Khan University, East Africa Institute, only 3% of businesses in Kenya employ more than 50 people, while 71% employ less than 10 people. This highlights the need for support for young entrepreneurs, but the BBI report's recommendations fall short in addressing the issue of unpaid services.
Unless young people get paid, and get paid well and on time, we will have done nothing to solve the unemployment problem in this country. The BBI report's recommendations are a good start, but they need to be more comprehensive in addressing the challenges faced by young entrepreneurs.
