• Comparatively, Jamaica is considered to be very 
   entrepreneurial. Approximately 17% of the 
   population had an interest in conducting some 
   form of business according to a Global 
   Entrepreneurship Monitoring (GEM) report. The 
   report further highlighted that, “Jamaica’s overall 
   rate of entrepreneurial activity compares favorably 
   with countries such as New Zealand, (2005 – 
   28.26%) considered among “the world’s most 
   entrepreneurial countries”. Further comparison 
   with nations with similar economic structure, 
   showed Jamaica  ahead of nations like Argentina, 
   Chile, Mexico, South Africa, and Venezuela based 
   on the number of nascent entrepreneurs who 
   continued on to operate sustainable enterprises 1. 
      •  Entrepreneurship is one of the core pillars of developed 
         economies, particularly due to the fact that it enables 
         positive contribution to economic growth and is essential in 
         driving community sustainable livelihood. 
      •  Studies have pointed to the fact that the establishment of 
         new and small business is an engine for job creation and not 
         necessarily the mega-corporations. Comparatively, countries 
         with greater entrepreneurship impetus experience significant 
         reduction in unemployment rates 5. Therefore, it is important 
         that Jamaica take the corrective actions to nurture this great 
         potential to creating culture of entrepreneurs.      
      •  When one considering the Jamaican scenario, it becomes 
         more crucial to focus on the development of a culture where 
         young people are enthusiastic about creating wealth and 
         their own employment. It is evident that young people are 
         faced with several challenges. The rate of unemployment for 
         young persons is three times higher than that of adults 6. 
         Skill levels among youth entering the labour force are 
         significantly low over 70%, 7. Additionally, the youth cohort 
         dominates those most affected by poverty 8. 
  • Create trust fund and  finance programs for young 
    entrepreneurs 
  • One of the greatest challenges for young people in 
    their quest to start a business is the deprived access to 
    start-up funds. That is one of the primary reasons 
    saving is a positive behavior which should be 
    vigorously promoted. However, if Jamaican youth are 
    to excel in the field of entrepreneurship, access to 
    start-up capital is a fundamental prerequisite. With the 
    risks and high failure rate in business, it is being 
    proposed that special funds be put in place that reduce 
    the requirement to access loans and also provide 
    grants for solid business ideas. 
              Simple Business Ethics and Research
        •    Decide if you really want to be in business:
        •    You will be putting some (not all, hopefully) of your net worth      at risk. You will run 
             the risk of becoming eccentric, meaning creating a life that is out of balance, with 
             working hours taking 
        •    away from other family or pleasurable activities. There may be levels of stress you 
             have not experienced as an employee.
        •    Decide what business and where:
        •    Once you have decided you have the characteristics of a successful entrepreneur 
             and that you definitely want to be in business, then you must decide which business 
             is best for you and where to locate that business.
         
        •    Decide whether to start full-time or moonlight:
        •    There are some interesting advantages and some pitfalls in starting as a moonlight 
             business. (That is, a business you start in your off hours while still working at your 
             current job.) More often than not, the advantages of starting as a moonlighter 
             outweigh the risks:
        •    You avoid burning your bridges of earnings, including retirement, health and fringe 
             benefits and vacations. 
        •    Your full-time job won't suffer if you maintain certain conflict of interest disciplines, 
             including 
       •   compartmentalizing your job and business into completely separate 
           worlds. 
       •   You can avoid conflict of interest with your job by choosing a business 
           that is appropriate for moonlighting, such as: single products, real 
           estate, specialized food, e-commerce, direct marketing or family-run 
           operations. 
       •   There are great advantages for operating a family business. The 
           family can run the business while you are at work. You have a built-in 
           organizational structure. You can teach your kids the benefits of being 
           in business. 
       •   But there are also some pitfalls to consider in starting a moonlight 
           business:
       •   There is a temptation to spend time at your job working on your 
           moonlight business. That is unfair to your employer and should not be 
           done under any circumstances. (You may need a family member or 
           some trusted person to cover emergencies when you are at your job.) 
       •   Another problem may be competing with your employer, which, again, 
           is not right. Think of how you would feel or handle this employee if you 
           were the boss. 
       •   Any kind of conflict with your regular work can jeopardize your job and 
           your moonlight business. 
       •   Overwork and mental and physical exhaustion can also become a 
           very real problem for moonlight entrepreneurs.