Factors Which Influence Youths to Venture in Business Activities: A Case of Youths in Lusaka’s Northmead Business Centre
DOI:
https://doi.org/10.5281/zenodo.10799176Keywords:
business, entrepreneurship, unemployment, youthAbstract
This paper sought to report on the factors that influence youth engagement in business activities in Lusaka’s Northmead business area; with Specific objectives focusing on the influence of Demographic, Socio-cultural and Economic factors on youth business start-up. The study adopted a Quantitative – Descriptive Non-Experimental survey research design which is anchored on positivism as a research philosophy. Structured questionnaires with close ended questions were used to collect primary data which was analyzed for descriptive statistics and inferential statistics using excel and Statistical Package for Social Sciences (SPSS). Correlation and regression analysis was further used to determine the nature of the relationship between the independent and dependent variables. The findings on the influence of demographic factors on youth business start-ups revealed the existence of a positive relationship between age, gender, marital status and level of education, and youth engagement in business activities. The relationship was statistically significant. The findings on the influence of social factors on youth business engagement also revealed the existence of a positive relationship between family background, quality of education, government support and media influence, and youth engagement in business. The relationship was statistically significant. The findings on the influence of economic factors on youth business start-ups also revealed the existence of a significant and positive relationship between access to finance, the macroeconomic environment, government support and access to business development services, and youth business engagement. Government and policy makers should take keen interest of the factors which influence youth to venture in business activities. Government should further take advantage of the unique disposition of youths and create business development and training programs which significantly influence sustainable youth business start-ups as these can significantly contribute to the economic development of the country and reduce youth unemployment.
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