Role of young entrepreneurs in promoting business in Rwanda

Abstract

The required skills and knowledge on how to begin and supervise a business can be controlled but not being sure during decision-making stage by determining the risks, obstacles and barriers associated with that business. However, establishing the source of such uncertainties like risks and obstacles is absolutely necessary as it could reduce the chance of unsuccessful in future and support policy-making. The goal of thesis was to discover the role of young entrepreneurs in promoting the business in Rwanda where the focus was on successful and unsuccessful causes for young entrepreneurs here in Rwanda, specifically in Gasabo as urban area and Nyamasheke as rural districts with specific objectives: to test the failure influence of young entrepreneurs, to assess the situation of businesses’ management like allocation of resources for successes and failed young entrepreneurs, to test the situation of market for the failed young entrepreneurs and recommendation addressed to government on how to reduce high young entrepreneur’s failure in Rwanda. Questionnaires were distributed to 384 respondents as the targeted populations by collecting data and descriptive and regression were used to analyze data The findings showed that the status of youth in entrepreneurs, their failures have been influenced by limited knowledge of business systems, lacked of financial accounting skills and negligence in determining business plan and controlling the business resources, high taxes, unavailability of fundamental business resources such as raw material which are highly costing, complicated rules and regulations and corruption while looking for permits. The researcher advises the entrepreneurs to put more efforts in acquiring the necessary knowledge and skills in management and financial systems which is the way of minimizing the probability of failure, innovating the services and goods. Policy-makers should simplify restrictions, providing assistance and motivations to youths, exempting taxes for businesses held by youths, fighting against corruption and briberies and black market, creating more training centers for youths, non- government should provide their contributions to youths in terms of trainings like mentoring, supporting for entrepreneurial capacity-building.