WV young entrepreneurs in DTI-USAID training program

A total of 30 aspiring youth entrepreneurs in Western Visayas (WV) benefited from the 2024 Youth Entrepreneurship Program: You Can Be Your Own Boss (YEP-BYOB), an entrepreneurship training program of the Department of Trade and Industry (DTI), in collaboration with the United States Agency for International Development to hone and produce more youth engrossed in business.

The YEP-BYOB aligns with the DTI’s aim to elevate entrepreneurs by providing access to advanced technologies and skilled resources.

Composed of 30 aspiring young entrepreneurs from across Western Visayas, the three-day program was designed to equip aspiring business owners with the essential skills and knowledge needed to thrive in today’s competitive market.

Enhanced curriculum

The program’s enhanced curriculum aimed to develop soft skills and essential business knowledge, providing participants with a well-rounded foundation for their entrepreneurial journeys.

DTI Region 6 Regional Director Rachel Nufable emphasized the DTI’s commitment to nurturing young talent. “This program represents our dedication to supporting young entrepreneurs and creating a thriving ecosystem and seedbed for startups in Western Visayas,” he said.

Bridging the gap in entrepreneurship education through business management training for aspiring entrepreneurs, the program aligns with Republic Act 10679, also known as the Youth Entrepreneurship Act, which mandates the integration of youth entrepreneurship promotion into national policies and programs — supporting micro, small, and medium enterprises development.

Filipino youth targeted

YEP-BYOB targets Filipino youth aged 15-30, including out-of-school youth, in-school youth, Indigenous youth, youth with disabilities, and youth organizations; ensuring an inclusive and diverse participant pool.

Further, the initiative is part of a broader effort to address the Philippines’ demographic dividend.

In Western Visayas alone, the youth population exceeds four million, accounting for 50 percent to 52 percent of the region’s population.

The demographic presents both a challenge and an opportunity for economic growth and development.

Meanwhile, a similar initiative, the YEP Bootcamp for Young Entrepreneurs, is scheduled for September 2024.

All these programs are part of the DTI’s broader strategy to foster entrepreneurship and economic growth in Western Visayas, harnessing the potential of the region’s substantial youth population.

Through YEP, the DTI commits to empowering and inspiring the next generation of business leaders, contributing significantly to the region’s economic development.