Over the next three years, the EU-OECD Youth Entrepreneurship Policy Academy (YEPA) will bring together young entrepreneurs, social entrepreneurs, policy makers and experts from the EU to discuss the policies and actions needed to support youth entrepreneurship in the EU and OECD countries.

Tomorrow, Commissioner for Jobs and Social Rights, Nicolas Schmit, will attend the kick-off conference of the EU-OECD Youth Entrepreneurship Policy Academy (YEPA). 

Eurobarometer survey 

The latest Flash Eurobarometer survey on social entrepreneurship and youth published on 8 March shows that although nearly half (46%) of young people aged 15-30 in the EU would consider setting up their own business, only few have taken active steps to do so. 

Lack of capital or resources, financial risks and insufficient knowledge and entrepreneurship skills were found as the main barriers to young people becoming entrepreneurs. In addition, only one-third of young people were familiar with the concept of social entrepreneurship.

Role of the Youth Entrepreneurship Policy Academy

To address these challenges, the Academy seeks to empower young entrepreneurs and encourage Member States to offer better support packages for future entrepreneurs.

It will organise a series of workshops on several topics such as access to finance, entrepreneurial skills and the added value of social entrepreneurship.

The Youth Entrepreneurship Policy Academy is part of the Social Economy Action Plan from December 2021 with the objective of helping the European social economy thrive.

The Academy also contributes to the 2023 European Year of Skills with its focus on skills, job creation and EU competitiveness.

The Academy’s kick-off conference will take place in Brussels on 9 March.

Journalists can register to attend via this link. 

Current EU initiatives on youth and social entrepreneurship

Other relevant EU initiatives on youth and social entrepreneurship are:

• The Social Economy Action Plan aims to help the European social economy thrive, tapping into its economic and job-creation potential, as well as its contribution to a fair and inclusive recovery, and the green and digital transitions.
• Erasmus for Young Entrepreneurs is a cross-border exchange programme which gives new or aspiring entrepreneurs the chance to learn from experienced entrepreneurs running small businesses in other Participating Countries.
• As part of the reinforced Youth Guarantee, many Member States run youth entrepreneurship programmes offering financial support to new businesses, often with training and mentoring.
• The EU-OECD Youth Entrepreneurship Policy Academy gathers policy makers and networks of young entrepreneurs of each Member State on topics such as access to finance, entrepreneurship skills or social entrepreneurship and help national administrations to offer more effective support packages to young entrepreneurs.
• The European Social Fund Plus (ESF+) and the Recovery and Resilience Fund also contribute to youth employment support, including youth entrepreneurship.