WITH the rising number of young population, the Department of Trade and Industry (DTI) foresees a younger pool of entrepreneurs catering to an equally younger market.

DTI Undersecretary Blesila Lantayona said the agency continues to monitor the movement of the consumer and seller ecosystem in today’s tech-driven economy, especially since millennial entrepreneurs are maximizing the full potential of digital tools available to them.

But Lantoyana said being tech-savvy is not enough to excel in today’s business age.

“Although young people are savvier about technology, more knowledgeable about the world around them and more interconnected than any previous youth generation has been, yet, as a generation, they also face more challenging economic, social and political environments,” she said.

She noted this is where the agency’s Youth Entrepreneurs Program (YEP) plays a vital role.

Over 250 young entrepreneurs and would-be entrepreneurs from all over Central Visayas attended the YEP program in November. The event carried the theme, “Harnessing Our Own Resources for the Advancement of the Youth!”

YEP is a nationwide program to help young Filipinos develop their entrepreneurial skills by offering them a comprehensive package of interventions.

“Through the YEP, harnessing the energy and innovation of youth, there is an opportunity to lift quantity and quality of jobs and to generate inclusive and sustainable economic growth,” said Lantayona.

Programs

YEP’s components include the Youth Start where they will be assessed on where to begin in their businesses journey, Youth Net where they will be connected with the right networks that will support them to overcome startup challenges and exchange of innovative ideas and Youth Match, where they will be matched with supporting businesses to elevate their presence in the market.

According to DTI 7 Director Asteria Caberte the presence of the youth in entrepreneurial activities shows bright potential for the local economy since they also fuel growth by creating and generating jobs.

“We are close to 80 percent of the youth that we need to target for entrepreneurship,” she said.

YEP supports the government’s growth agenda of doubling the number of entrepreneurs in the country by 2022 which will, in turn, broaden the gains of economic development, address inequality and uplift the quality of life of Filipinos, particularly the youth.

DTI 7 Assistant Regional Director Ma. Elena Arbon said with the current digital landscape, brick and mortar businesses are having difficulties adapting which make them need the expertise of the younger generation to address the changing preferences of today’s market.

Besides implementing programs that atrget the youth, DTI said it will continue rolling out programs like Slingshot and Kapatid Mentor Me program, among others. (JOB)