This article continues our examination of youth development as a catalyst for national transformation.
In the previous article, we examined the disconnect between education and employability, emphasising the need for a strengthened partnership between academia and industry. As we transition from classrooms to real-world challenges, we now turn our attention to a dynamic force that is transforming how young people engage with the economy: entrepreneurship.
Across Trinidad and Tobago and the wider Caribbean, entrepreneurship is emerging not only as a response to limited job opportunities but as a catalyst for innovation, self-determination, and economic resilience. With youth unemployment rates persistently high and traditional job markets increasingly saturated or slow-moving, entrepreneurship offers a powerful pathway for young people to design their futures—and, in the process, reshape their communities.
The Case for Youth Entrepreneurship
Entrepreneurship, particularly among young people, is no longer a fringe activity. It is a mainstream response to structural economic shifts. According to the International Labour Organization (ILO), youth entrepreneurship can be a strategic tool for addressing unemployment, encouraging innovation, and stimulating local economies, especially in contexts where formal job creation is stagnant or declining (ILO, 2022)
In the Caribbean, young entrepreneurs are entering sectors ranging from digital services and agro-processing to fashion, entertainment, and sustainable tourism. The appeal lies not just in income generation but in the autonomy, creativity, and impact entrepreneurship allows.
A report by the Caribbean Development Bank notes that youth-led enterprises are more likely to incorporate technology, embrace social innovation, and respond to local development challenges than traditional business models (CDB, 2021).
Yet, while interest is high, success is not guaranteed. Many youth-led ventures fail in their early stages, not due to a lack of drive but because of gaps in access to financing, mentorship, market exposure, and entrepreneurial education.
Entrepreneurship as
a Strategic Pillar
In Trinidad and Tobago, youth entrepreneurship must move from being an optional alternative to becoming a central pillar of our economic strategy. To do this, several critical shifts are needed:
1. Entrepreneurial Education
While some secondary and tertiary institutions have introduced entrepreneurship modules, these are often theoretical and lack practical grounding. Schools must embed entrepreneurial thinking across subjects—not simply teaching business plans but fostering risk-taking, problem-solving, and opportunity recognition from an early age. According to the Global Entrepreneurship Monitor (GEM), early exposure to entrepreneurship education significantly increases the likelihood that youth will become successful entrepreneurs later in life (GEM, 2022).
2. Access to Capital
Young entrepreneurs frequently cite access to financing as their most significant barrier. Traditional banking systems tend to favor established businesses with collateral and credit histories—criteria many young people do not yet meet. Micro-finance programs, startup grants, youth innovation funds, and pitch competitions with seed capital are all proven models that can close this financing gap. The National Entrepreneurship Development Company (NEDCO) in Trinidad and Tobago plays a crucial role, but it must be scaled up to meet the growing demand.
3. Mentorship and Incubation
Having an idea is one thing; executing it in a complex market is another. Business incubators, accelerators, and mentorship programs provide vital support for young entrepreneurs during their early, most vulnerable stages. The Youth Business International network has demonstrated that structured mentorship increases the survival rate of youth-led businesses by more than 30% (YBI, 2020).
4. Digital Enablement
Today’s youth are digital natives. Leveraging technology not only helps them start businesses at lower costs but also connects them to regional and global markets. Support for digital platforms, e-commerce tools, and training in digital marketing can amplify the reach and scalability of youth ventures—particularly in rural areas or underserved communities.
5. Policy and Institutional Support
Governments play a critical role in creating the enabling environment for youth entrepreneurship. This includes simplifying business registration, offering tax incentives, reducing bureaucratic burdens, and incorporating youth perspectives into national development planning. The Ministry of Youth Development and National Service has initiated entrepreneurship training programs, such as AMPLIFY and PIPE, which show promise. The key is ensuring continuity, visibility, and integration with private sector and NGO initiatives.
A Regional Outlook
Across the Caribbean, youth entrepreneurship is being recognised as a key lever for inclusive development. Jamaica’s Youth Innovation Centres, Barbados’ Youth Entrepreneurship Scheme (YES), and the Eastern Caribbean Central Bank’s Innovation Hub are examples of regional efforts to provide space, tools, and mentorship to young innovators.
The question is no longer whether youth can lead—but whether our systems will empower them to do so.
Beyond Job Creation: Entrepreneurship as Social Innovation
What sets youth entrepreneurship apart is its potential to yield benefits that extend beyond economic gains. Many young entrepreneurs are social innovators—driven not only by profit but by purpose. They are developing solutions to address education gaps, climate change, food insecurity, and mental health issues. Empowering them means empowering communities to solve their problems with contextual insight and cultural fluency.
This is especially vital in a post-pandemic economy where resilience and adaptability are no longer buzzwords—they are business fundamentals.
A National Imperative
As we chart a post-oil economic path for Trinidad and Tobago, youth entrepreneurship must be part of our long-term development strategy. It can reduce unemployment, drive innovation, diversify the economy, and cultivate the next generation of ethical, mission-driven leaders.
To make this a reality, the public and private sectors must co-invest in youth entrepreneurship—not as a form of charity or public relations, but as a strategic economic investment. This includes fostering a culture that accepts failure, rewards innovation, and values youth as more than future leaders—they are present-day contributors.
Looking Ahead
Youth entrepreneurship is not a backup plan—it is a bold, creative engine of national transformation. But like any engine, it needs fuel: education, mentorship, capital, and belief. As we continue to invest in preparing the next generation for leadership, let us also prepare them for ownership—of ideas, solutions, and the future of Trinidad and Tobago.
In the next article, we explore how the future of work is being reshaped by automation, artificial intelligence, and digitisation and what it will take to prepare our youth for jobs that don’t yet exist.
Dr Phyllis MOREAU is a
Change Management /HR Consultant
