The Current rate of Unemployment is really worrying to everyone, from the stakeholders to the real individuals who feel the unemployment challenge.
Quite often many reasons are given and assumptions made as to what the real cause of unemployment is!The rate of unemployment is ever increasing. With the current rate at 86%, we have all reasons to worry because of the undesired effects that unemployment brings about like increased crime rate and increased poverty levels.
The most said of all being that the current education system trains more of job seekers than job creators. Well, the point is, the current education system teaches neither job seekers nor job creators.They are not job seekers because they don’t have the necessary and requisite skills needed by the few jobs on the market; this is evidenced by the need to supplement academic qualifications with Professional courses. The current job market needs too many professionals because the businesses and companies that recruit labour are generational companies.
However for now, let’s put the Education system aside, what causes the youth unemployment is just that they can’t find work, part-time or full time! This is because there are no business organizations, companies or small enterprises to consume them either directly or indirectly.
Our main Centre of Focus should be on why business environment is not favourable for new entrants or why there is not much urge for people to start businesses? Is it a problem of lack of market? Is it a problem of a poor population that doesn’t yield much? Is it really lack of technocrats that make some businesses fail to keep operational? Are they poor government policies like taxes, lack of incentives? , is it lack of capital? What exactly is it?
Uganda was ranked in 2015 by Inc Rankings and GEM report among the most enterprising nations in the world; however the set back is that we have the highest collapse rate of businesses at 50% with many failing in the first 3 years.
If we find the solution to the challenges which seems more of individual effort, then unemployment can be history in the motherland. With a great thriving business environment, labour in the form of casual or professional can be absorbed. It all begins with you and I per se.
It’s evident, most of the businesses fail because they lack the required customer base to maximize their potential and other opportunities are never utilized because of shortage in entrepreneurial ideas, this leaves us with this question to be answered by all of us
What contribution are you making to the economy of your Country? Are you going to be a potential customer or an immediate entrepreneur?
We all have roles to play, let’s all utilize our potentials.
Kivuna Kenneth (Business and Content Editor, TechbuzzHub)