MANILA, Philippines – With the economic downturn making jobs scarcer, the government is urging the youth to turn instead to entrepreneurship.
The Department of Trade and Industry and Department of Labor and Employment recently inked an agreement with the Philippine Council of Students in Intrapreneurship (PCSI) for joint implementation of livelihood projects for the youth.
The project is spawned by an existing program of the DOLE, the Youth Entrepreneurship Support Project (YES), which aims to equip the youth with the necessary skills to go into business.
The agreement among the DOLE, DTI and PCSI formalized a partnership that would build on the YES Project to enable more viable and sustainable livelihood opportunities for the youth.
“Through collaboration, we can leverage on each other’s strength. Thus, the (YES Project’s) failure rate is reduced,” Trade Undersecretary Merly Cruz said in a statement.
Under the agreement, the DOLE would continue to be the lead agency, providing funding for the project and overseeing project implementation.
The DTI would provide technical assistance, including business consultancy, provision of trainers for skills and entrepreneurial development, as well as help with product development and marketing.
PCSI, for its part, would identify, screen and organize the project’s beneficiaries.
According to PCSI chair George Sorio, the group strived to reduce the incidence of youth unemployment by providing them the opportunity to improve themselves and go into business.
“PCSI provides the youth the opportunities and needed support to start a business. By starting a business, the youth can create jobs. By creating jobs, the youth can provide livelihood, which, in turn, stimulate economic development,” he said.
Following training and consultations, the youth beneficiaries would be given the chance to put up their own businesses. These business projects, however, would have to be approved by the DOLE, DTI and PCSI. –Abigail L. Ho, Philippine Daily Inquirer
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