An International Index
As a lot of data is already being collected, it would be relatively simple to create an International league table of countries and donor agencies based on programme delivery. A country that offers large numbers of its young people entrepreneurship courses and access to start-up capital or equipment, mentorship, career guidance and simplified registration procedures would score high on the index.Likewise, donor agencies that invest in the field would become ‘champions of youth job creation’.
For the Systems Approach, we need to create national demand-side tests:
- Quality of the regulatory environment (number of days and cost to register a business, etc.).
- Percentage of youth with apprenticeships.
- Success of local and national skills-matching. How many employers are satisfied with the recruits delivered by public education systems? How many unfilled vacancies are there?
- Percentage of young entrepreneurs who can access effective mentors.
To these, some of the 33, mostly supply-side, indicators proposed by the UNCTAD/Commonwealth Policy Guide on Youth Entrepreneurship (page 84) can be added. These include supply-side indicators such as:
- Entrepreneurship education: Number of courses offered; number of start-ups/spin-offs from secondary school and university courses; number of patents registered by young entrepreneurs,
- Access to finance: Share of MFI loans received by youth under 25; existence of a youth enterprise fund, supplier credit, equipment leasing opportunities and loan guarantees; access to crowdsource / online funds, etc.
- Output Indicators: Number of youth-led start-ups, their survival rate, turn-over, jobs created,
Other ideas for solving the Metrics Challenge
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