With increased levels of unemployment comes a high price to be paid by such an economy. Talk of high crime rates, substandard living brought about by many people living below poverty levels and the per capita income is reduced which then impacts negatively on the GDP of the given economy. The answer to this, though it has with time become a cliché, is Investment. Business Corner will break it down for you.
The population of this country is always rising, the resources are limited and scarce, the number of university graduates looking for employment is increasing yet employment opportunities are constant. This makes the job market structure kinky due to many qualified personnel searching for jobs and less job vacancies. This is why you will find a qualified engineer working as a pub manager and certified accountant vending fruits in some corner.
This situation is brought about by most of the population looking for employment and less of it creating such employment. If only 30% of students leaving University as graduates, with the knowledge impacted into them and creativity they gain by default, created employment rather than seek for it, the rate of unemployment will be reduced. I know by now you are wondering how a 24 year old can afford this starting capital, this is where the government and the banking institutions come in handy. Financial institutions are out there to create credit access through customer scoring. They have loans meant for everyone with a viable business idea and collateral.
I must say the barrier to investment is lack of information to credit access. The government, having a better understanding for the need of investment in an economy, has created credit opportunities like Uwezo Fund meant for budding entrepreneurs like me and you. And in case you have access to credit and you are wondering which venture to invest in, tune to KUTV Budding Entrepreneurs on every Thursday at 8:00 pm to see what other innovators are doing with their money maybe you will get a rough idea of what you can do with yours.
I hope by now the need for investment is clear to you. Don’t look for a job create it, Invest. Remember;
“If you invest nothing, the reward is worth little.”
By Wasike Allan Wanyonyi