Toronto’s youth suffer some of the worst unemployment rates in Canada. Approximately 20 per cent of Toronto’s 16-to-24 year olds are without a paying job. One of the most expensive cities in the world, Toronto isn’t a viable long-term home for many of its young residents.
Entrepreneurship represents an opportunity for young people to take control of their livelihoods and shape the direction of their careers. Becoming their own boss, Toronto’s youth can bypass age discrimination, under-employment and the new reality that formal education doesn’t guarantee a career.
There are many barriers youth face to employment, specifically in Toronto:
Lack of full-time job creation
Older workers retiring later
Lack of mobility and constraints of public transit
Entrepreneurs require a unique set of skills. Perseverance, creativity and an internal drive are all important factors to entrepreneurial success.
On top of financial independence, entrepreneurs report a high sense of fulfillment and happiness. Across the board, entrepreneurship offers an opportunity for young people to greatly improve their lives.