WAVE Editorial March 2018 – Issue 266
On Cover: Kolin Bikram Rana
Youths of Nepal are now being committed and ready to take risks to materialise their new ideas with an aim to create business values to widest range of beneficiaries. For this, they’re referring to every possible platform and resources to enhance their skills in focusing on needs, widening their imagination, devising strategies, clarifying the fundamentals of their ideas, searching for resources, strengthening collaborations, giving back to the society, and what not.
While Nepali youths are gearing up with their innovative minds, National Youth Council of Nepal has also expanded its program dedicated for youths, especially in this newly-formed structure of the country.
The council that has been actively working for the development of youth’s personality, entrepreneurship and leadership by providing various trainings is all set to expand its Youth Entrepreneurship Program to all 753 local levels of Nepal. This will allow approximately as many as 7,530 enterprisers across Nepal to start their own ventures.
At present, the program covers one entrepreneur in each electoral constituency. In this situation, the council has already proposed the Ministry of Youth and Sports to extend this program to each local-level body under the title ‘One Ward, One Entrepreneur’. Many youngsters of Nepal refrain from pursuing their choice of professions and they go to foreign land as last option. There are some youths who do not take every job as decent as a white collar job that pays lucrative salary, while many others fail to materialise their ideas despite being willing to do it; one of many reasons being ‘lack of financial resources’.
Taking this situation as a grave concern, the council has planned to enhance the Youth Entrepreneurship Program by providing a loan of Rs 500,000 to a group of entrepreneurs in each ward of the country, that too with no collaterals and/or interests. If this program gets in implementation, 7,530 enterprisers will boom within few years.
In the last fiscal year, when the electoral constituencies were 240, the same number of firms was awarded under this scheme. It had benefitted an estimated 1700 individuals in different parts of the country. In the current fiscal year 2017/18, the program is based in 165 electoral constituencies, under which, one registered venture with five to ten partners will benefit from this scheme in each constituency. Thus, only 1200 individuals are benefitting from this scheme.
But in the fiscal year 2018/19, this program is being extended to all 753 local bodies, and it is estimated that up to 7,530 entrepreneurs will be benefitting from this scheme. Joint Secretary and Spokesperson for the council Dhurba Raj Paudel has said that the loan – free of collateral or interest – must be paid within the next five years with yearly instalments from the second year of the loan period.
This is a great opportunity for prospective entrepreneurs; so, if you’re one of them, submit a proposal to District Youth Committee of your respective districts.