Latest news with #youthentrepreneurship
NHK
5 days ago
- Business
- NHK
Bangladeshi interim leader, Nobel laureate Yunus urges stronger ties with Japan
Interim leader of Bangladesh and Nobel Peace Prize laureate Muhammad Yunus has expressed hope that Japan will show leadership in Asia and boost cooperation with his country, especially in supporting youth entrepreneurship. Yunus was named chief adviser to the interim government last August after former Prime Minister Sheikh Hasina resigned following deadly student-led protests. She had held the position for about 15 years. Yunus sat for an exclusive interview with NHK in Tokyo on Thursday. In the interview, he said he hopes Japan will assume leadership in Asia and take the initiative in building a system to support young entrepreneurs. He expressed expectations for deeper bilateral cooperation. Bangladeshi media reported last week that Yunus was considering stepping down as chief adviser of the interim government. They cited rising tensions with certain political parties and the military over the pending election, as well as difficulties implementing reforms that Yunus had promised. Yunus did not directly address those reports, but told NHK that he hopes to carry out as many reforms as possible before the election. He said the government does not want to "go back to the same structure, same policies, same judiciary, etc., which were used as tool of oppression, tool of taking away people's rights." He said everything that now exists will be examined and anything deemed unsafe will be changed. Yunus said they hope to hold an election sometime between December and June next year, as announced earlier.
Zawya
16-05-2025
- Business
- Zawya
Online webinar: Navigating economic stagnation in South Africa
South Africa's unemployment crisis remains a serious challenge. Prof. Gabila Nubong, economist and senior lecturer at North-West University According to Statistics South Africa, the official unemployment rate dropped slightly to 31.9% in the fourth quarter of 2024, down from 32.1%. Despite this small improvement, around eight million people were still without work by the end of the year. The expanded unemployment rate, which includes discouraged job seekers, remained high at 41.9%. Youth unemployment, one of the country's most pressing issues, also dipped slightly from 45.5% to 44.6% among those aged 15 to 34. These numbers show a tiny step in the right direction, but they also make it clear: bold, focused action is urgently needed to grow the economy and create jobs. Join our upcoming webinar 'Navigating Economic Stagnation in South Africa' featuring Prof. Gabila Nubong, a respected economist and senior lecturer at North-West University. He will unpack the root causes of economic stagnation, break down the challenges behind these statistics, and explore real, workable solutions. We'll also look at how emerging markets and youth entrepreneurship can help drive South Africa toward a stronger, more resilient future. Webinar details - Date: Wednesday, 21 May 2025 - Time: 12pm to 1pm (SAST) - Teams meeting link: - Duration: One hour, including a 20-minute Q&A session For more information, please email Angeline Marokoane at Prof. Gabila Nubong bio Prof. Gabila Nubong is a political economist with a master's in economics and PhD in International Relations from the University of Pretoria. He is currently an associate professor at the School of Economics of the North-West University, South Africa. His research interests span across this nascent area of developmental regionalism and comparative regionalism with a focus on European Union and African Union integration processes. He has published articles and book chapters on the African Continental Free Trade Area (AFCTA) focusing on drawing lessons from the European Union Integration experience. His current research is on the drivers on regional integration in the SADC region, focusing on trade, market integration, industrialisation, and peace and security. He also has a keen interest in pan Africanism and the African renaissance discourse with a focus on African growth and economic development questions focusing on the African Union integration and developmental processes and programmes. His recent publications have covered the areas of developmental regionalism, the African Continental Free Trade Area, political and economic institutions, foreign direct investment, and regional economic integration. Before joining the university, he worked as an economist for the European Union Delegation to South Africa, and as a project officer at the European Centre for Development Policy Management (ECDPM) in Maastricht, The Netherlands. He has served as a consultant for the World Bank, the United Nations Development Program on the socio-economic response to Covid-19 for Guinea Bissau and the African Union and NEPAD on capacity imperatives for the implementation of the SDGs in selected African countries.
Forbes
15-05-2025
- Business
- Forbes
How To Start Your $2,000/Month Side Job As A Teen
Teen entrepreneurs are transforming simple ideas into profitable side jobs that outperform traditional summer jobs. While the average teen summer worker earns $15.68 per hour, up 36% since 2019, ambitious high schoolers are creating businesses that generate $2,000 monthly while offering flexibility, higher profits, and valuable experience for college applications. This entrepreneurial trend is growing rapidly. According to recent surveys, 66% of teens aged 13-17 say they're likely to consider starting a business as adults. At WIT (Whatever It Takes), we have guided over 10,000 young entrepreneurs since 2009, watching them turn passion projects into profitable ventures. These early business experiences build skills that translate directly to future success—teens with entrepreneurial experience develop resilience, problem-solving abilities, and financial literacy that serve them throughout life. Starting a side hustle gives teens significant advantages over traditional employment. First, there's no income ceiling. While conventional jobs cap earning potential at hourly minimums, business ownership removes this limitation entirely. Many WIT students have transformed small investments of $100-200 into businesses generating thousands in revenue. Equally important is the scheduling flexibility. Traditional summer jobs lock teens into rigid 20-40 hour workweeks with little room for adjustment. Entrepreneurship eliminates this constraint, allowing teens to design work schedules that complement rather than compete with academics, sports, and other priorities. College admissions officers increasingly value entrepreneurial experience. A teen who can articulate how they identified an opportunity, navigated challenges, and created something valuable stands apart in competitive admissions. Julia Howe exemplifies this potential. She created the Hitting The Wall podcast, which is focused on teenage female athletes and addresses mental health struggles and societal pressures young women face in sports. Her experience developing the podcast, reaching out to guests, coordinating community events, organizing paid partnership deals, and managing social media has built a platform that helps others and strengthens her college applications through demonstrating leadership and initiative. Most small businesses know they need social media content but lack the time or skills to create it. Teens with digital fluency can effectively fill this gap. To start, build a simple portfolio showcasing your video editing or graphic design skills. Select a specific niche—coffee shops, boutiques, fitness studios—and approach businesses with a concrete offer: "I'll create eight short-form videos for your social media for $300-400." Your competitive edge? Offer to handle everything: filming, editing, adding trending music, and writing captions. This comprehensive service appeals to busy business owners who know social media matters but don't have time to learn the platforms. Path to $2,000: Landing five to seven clients monthly at $300-400 each gets you to your target. This side job's scalable nature makes it particularly attractive—you can manage multiple clients simultaneously as your efficiency improves. Academic support remains in high demand year-round, and parents are willing to pay premium rates for quality assistance. Rather than generic tutoring, focus on specific needs: SAT/ACT prep, coding instruction, essay writing support, or math skill development. Specialization justifies higher rates and attracts more motivated clients. Create a simple website highlighting your qualifications, subjects, and hourly rate, then distribute your information to neighborhood families and local parent groups on social media. Path to $2,000: Charging $30-50 hourly and securing 10-15 weekly tutoring hours puts this goal within reach. The advantage of a tutoring side job is minimal overhead—just transportation costs and possibly workbooks or online resources. This translates to high profit margins, with almost all revenue becoming profit. Selling handmade or personalized products can be financially rewarding and artistically fulfilling for creative teens. Choose one specific product type—custom tumblers, digital illustrations, handmade jewelry, or personalized apparel. Initially, focus on quality and consistency rather than variety. Establish a dedicated Instagram account showcasing your process and finished products, and leverage local summer markets, craft fairs, and online platforms like Etsy or Depop to reach customers. Path to $2,000: Calculate your costs precisely. If each item costs $8 to produce and sells for $25, you must sell approximately 120 units monthly to reach $2,000. While this sounds substantial, focused production sessions and strategic marketing can make it achievable. Creating digital products offers exceptional scalability with minimal ongoing costs after initial development. Consider developing downloadable templates, study guides, printable artwork, or digital planners targeted at specific audiences. For example, one WIT student created custom study guides for AP courses, charging $75 per guide and focusing on five subjects she knew well. Path to $2,000: With minimal production costs, most of your sales become profit. Depending on complexity, pricing digital products between $15 and $80 means selling 25-135 units monthly. The key advantage is creating once and selling infinitely—your income isn't directly tied to your time investment after the initial creation. Service-based businesses like pet sitting, lawn care, or car detailing provide reliable income with low startup costs. Summer is peak travel season, creating high demand for pet care. Create a simple one-page business plan outlining services and rates. Advertise on neighborhood apps like Nextdoor and leverage family connections for initial clients. Charge $25-30 per day for dog walking (two 30-minute walks) and $50-75 daily for overnight pet sitting. Adding premium services like plant watering or daily photo updates can increase rates. Path to $2,000: Securing 5-6 regular dog walking clients (at $150/week each) plus weekend pet-sitting gigs ($300/weekend) puts $2,000 monthly within reach. The key advantage is the recurring nature of these services—once you prove reliable, clients tend to book repeatedly. Before launching any business, teen entrepreneurs should ask themselves these critical questions: What problem am I genuinely passionate about solving? The best teen side jobs start with real interests rather than what might impress college admissions officers. Genuine interest helps teens continue when challenges emerge—a critical skill since colleges increasingly value resilience and initiative in admissions decisions. What skills do I already have, and which ones will I need to develop? Young entrepreneurs often underestimate their existing talents. List your current abilities, then identify what you still need to learn. The entrepreneurial process itself teaches many necessary skills. How will this fit into my current commitments? To prevent burnout before launching your side job, create a realistic schedule with specific times for business work. Who can support and guide me through this process? Every entrepreneur needs advisors. Before starting, find potential mentors who can help navigate challenges. Organizations like WIT and entrepreneurship competitions connect teens with experienced business owners who offer valuable ideas. What does success look like to me, beyond money? Financial returns matter, but focusing only on profits often disappoints teen entrepreneurs. Define personal success measures that match your values, whether building leadership abilities, gaining confidence, or creating positive change. The difference between teens who talk about making $2,000 monthly and those who earn it comes down to execution. Here are the practical implementation steps that successful teen entrepreneurs consistently follow: Start with a minimal viable product (MVP) - Rather than perfecting your offering, launch a basic version quickly to test market response. For lawn care, start with just mowing before adding edging and landscaping. For content creation, offer a single-video package before developing comprehensive plans. Implement consistent marketing blocks - Dedicate 30-60 minutes daily to promoting your services. This might mean sending five direct messages to potential clients, posting on community boards, or creating content showcasing your work. Consistency matters more than duration. Develop systems immediately. From day one, create simple templates for client communication, scheduling, and payment tracking. These systems allow you to scale efficiently as demand grows. Use technology strategically - AI tools can help with everything from content creation to market research. ChatGPT can help draft professional emails, create social media captions, or develop pricing strategies. Tools like Canva simplify design work, while simple spreadsheets track finances and customer information. Schedule weekly implementation sessions - Set specific times to work on growth initiatives. Even 30 minutes twice weekly can drive substantial progress when focused on the right activities. Limited startup funds - Begin with service-based businesses requiring minimal investment, or use the "pre-sale" model where customers pay before you create products. One WIT student funded her custom apparel business by pre-selling designs before ordering materials. Parental concerns - Address worries by creating a simple business plan showing how you'll manage commitments. Outline safety measures for meeting clients and handling money. Involve parents as advisors where appropriate. Pricing confidence - Research competitors but avoid underpricing. Remember that reliability, quality, and personal service justify premium rates. Client acquisition - Start with your immediate network—family, friends, neighbors, and school connections. Ask satisfied customers for referrals and testimonials. Offer incentives for referrals that convert to paid clients. The entrepreneurial journey doesn't require perfect preparation or extensive funding. The most essential step is to begin with available resources and refine your approach through experience. By solving real problems, maintaining quality service, and building genuine customer relationships, teens (and even adults!) can transform simple ideas into profitable side jobs $2,000 monthly or more. The skills developed along the way—resilience, financial literacy, marketing, and problem-solving—provide lasting benefits beyond monetary gain, creating advantages in college admissions and future careers. The most important step isn't perfecting your business plan—it's taking that first action toward bringing your idea to life.
