SEEDS OF ENTREPRENEURSHIP: UNDERSTANDING HOW ENVIRONMENTAL FACTORS MOLD STUDENTS' ENTREPRENEURIAL INTENTIONS IN ZAMBIA

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Grace Mwamba Chanda
Samuel T. Mbeki
Nomvula S. Mabaso

Abstract

Entrepreneurship stands as a linchpin in the economic development and employment creation strategies of developing nations, where fostering entrepreneurial endeavors is deemed a national imperative. Recognizing entrepreneurship as a cornerstone for economic progress, particularly in the context of developing countries, is underscored by its potential to spur innovation and drive sustainable growth (Marques et al., 2018). This research delves into the critical role of entrepreneurship in addressing the formidable challenge of unemployment, with a specific focus on Zambia—a nation grappling with a staggering 37.3% unemployment rate, predominantly affecting the youth demographic aged between 15 to 35 years, as reported by the Labour Force Survey in 2020.The urgency to prioritize and support entrepreneurship is emphasized by the direct correlation between entrepreneurial activities and employment generation, as highlighted by Chiang and Yan (2011). In light of Zambia's pressing unemployment concerns, there is a compelling need for collaborative efforts between the government and the private sector, echoing the sentiments of Valliere (2015). Valliere stresses the imperative for strategic collaborations to empower the government in formulating policies aimed at fostering formal employment opportunities for the nation's youth. This study employs a comprehensive approach, combining qualitative and quantitative methodologies, to scrutinize the multifaceted landscape of entrepreneurship in Zambia and its potential impact on alleviating youth unemployment. By drawing on existing literature and conducting empirical analyses, the research aims to uncover specific barriers to entrepreneurial development in Zambia and propose actionable strategies for enhancing the entrepreneurial ecosystem. The findings of this research are anticipated to offer valuable insights for policymakers, government agencies, and private-sector stakeholders in Zambia, informing evidence-based decisions to foster entrepreneurship as a catalyst for economic development and youth employment. Understanding the intricate dynamics of entrepreneurship in the Zambian context is crucial for formulating targeted policies and initiatives that can unleash the untapped potential of the nation's entrepreneurial spirit

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Published: Mar 7, 2024
Keywords:
Entrepreneurship, Economic Development, Youth Unemployment, Policy Collaboration, Zambia
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