Young People Must Demystify Entrepreneurship
16 July 2007
Read by 3007 persons
Support systems for project leaders exist, but they are still not very effective.
Young people need to know that success isn't guaranteed on the first try and that they must learn to capitalize on failures.
Zakaria Fahim Former President of the Center of Young Leaders (CJD)
The project idea may be good, but does it match the profile of its leader? Being a good technician or expert in the field isn't enough to become a business leader.
Lack of bridges between the world of education and the business world, lack of support, financial concerns... today, it's difficult for a young person to become an entrepreneur.
For Zakaria Fahim, former president of the Center of Young Leaders (CJD), young people shouldn't isolate themselves if they decide to embark on this adventure. Today, he reminds us, there are many institutions or organizations that can provide technical and psychological support, giving them confidence in their project.
1. La Vie éco: What is young people's perception of entrepreneurship?
Zakaria Fahim: Young people have a very poor understanding of entrepreneurship due to misinformation or lack of information. For many, it's still seen as an elite activity, requiring a lot of money, networks... and perilous adventures. Today, I think we need to change this negative image, demystify the act of starting a business. Entrepreneurship is linked to youth. In developed countries, young people are encouraged to become gazelles and later elephants. Here, we're still at the mouse stage.
I think that today, there is a real political will to encourage business creation, thanks to the support measures in place. But it's not enough. Education isn't keeping up. There's a real disconnect between the world of education and the business world. As a result, young people immediately think of employment.
2. Is it out of fear?
They express a certain fear because they are not prepared. As I just pointed out, there are no bridges between young people and the business world. We need to show these young people the way. When you tell them about the brilliant careers of leaders from humble backgrounds, they are amazed and understand that anything is possible. We need to sell them a dream. Today, young people in high schools, colleges, and universities are not sufficiently sensitized to the importance of entrepreneurship.
Another factor contributing to apprehension: the fear of failure. Scientific studies in the United States have shown that successful people have experienced at least three failures in their careers. Success isn't guaranteed on the first try, but you learn to capitalize on failures and bounce back better. In retrospect, I think that if this apprehension exists, it's due to a lack of support.
Despite all the measures taken, we haven't yet found the right formula to create a nursery of entrepreneurs. Often, projects fail because their leaders haven't been properly advised. Nevertheless, there's no shortage of good examples. Today, within the CJD, we are finalizing an agreement with former executives from large companies who have agreed to help us support young entrepreneurs. This is why promoting entrepreneurship involves developing a strong "network of networks." Former leaders need to serve young people, and the latter must have the humility to learn from their elders.
I believe that today a young entrepreneur must receive clear information and advice on the steps and paths open to them. This is one of the missions of the CJD, as well as support organizations, to make the task easier for a large population. We must also teach young entrepreneurs the art of entrepreneurship. It's a profession that is learned every day.
3. Apart from funding, what difficulties do young people face?
They don't yet know how to sell their projects, even if they are good. This means they aren't well supported beforehand in their approach. It's also a lack of confidence. A project leader must have the courage to knock on every door and not hesitate to seek information wherever it is. They must also learn to adapt and to question themselves. Many believe strongly in their project and are not ready to consider other fields of activity.
Another difficulty: the person/project fit. The project idea may be good, but does it match the profile of its leader? Being a good technician or expert in a sector isn't enough to be a business leader. Don't think that the same project idea can work for everyone.
Unfortunately, promoters often neglect this step to focus solely on the economic, commercial, and legal feasibility of the project. This is a mistake! The maturation of an idea must necessarily take into account more personal elements. To succeed with a project, you need to know how to formalize it and present your arguments.
Young people shouldn't isolate themselves in their adventure. Today, there are many institutions or organizations that can provide them with technical and psychological support. As a think tank, the CJD is there to help these young people ask the right questions and solve their problems themselves. We also recommend that they not choose professions because they think they will earn a lot of money, but professions that match their personality. This is important!
4. What about funding?
This is a major issue. Today, the lines of credit specialized for SMEs are still insufficient. At the CJD, we are advocating for an increase in these lines of credit for a wider population. Even if some banks have understood the interest in supporting small entrepreneurs, many of them are not playing the game.
There are also business angels and venture capitalists, but they are only accessible to certain projects, generally innovative ones. We must also not forget incubators, which can be important partners.
5. You've mentioned many problems. What concrete actions has your association taken to address them?
One of the CJD's proudest achievements is the creation of the young entrepreneur's guide. It was a response to the various expectations of young people who were unaware of the creation steps. Today, more than 15,000 copies have been distributed to universities and chambers of commerce and industry.
We are also establishing an agreement with the Ministry of the Interior so that this document is also available to the Regional Investment Centers (CRI) and the National Agency for the Promotion of Employment and Skills (Anapec). We have also created the young entrepreneur's driving license exam. It's a didactic and fun tool used to test the young entrepreneur's knowledge of the creation steps. It is available to our partners, including the "Moukawalati" centers, universities, and chambers of commerce. We are trying to make it available to other partners. The idea of this exam is to facilitate the entrepreneurial act but also to allow young people who have passed the test to receive services at discounted prices from our partners (private and public companies).
Furthermore, the entrepreneur's school is the cornerstone of our actions. Because it will allow us to get closer to the world of education. If we work in tandem with teacher-researchers, we can really put in place modules adapted to the local issues, with an entrepreneurial vision.
Published on 29/06/2007
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