Unleashing the potentials of young Filipinos to be the next business tycoons, the Department of Trade and Industry (DTI) in collaboration with the Ministry of Trade, Investments, and Tourism (MTIT), successfully launched the Youth Entrepreneurship Program (YEP!) in Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
“YEP! was created specifically to empower you (youth) and give you the education, and confidence to innovate so that you can carve your own entrepreneurial path to success,” said Trade Secretary Ramon Lopez at the virtual launching of YEP! in the region.
Started in 2018, YEP! is a national program of DTI which aims to encourage young aspirants in the Philippines to develop their entrepreneurial abilities by offering them a comprehensive package of interventions. To date, there are now around 37,000 youth assisted by DTI under YEP! nationwide.
The program has three components namely, “Youth Start”, “Youth Net”, and “Youth Match” which is guided closely by the 7Ms framework for successful entrepreneurship: Mindset, Mastery, Mentoring, Money, Machine, Market Access, and Models of Business.
The goal is to provide assistance for skills training, business pitching, facilitate the establishment of business organizations and joining of youth to existing business organizations, career guidance (self-employment) to senior high schools, participation in trade fairs, business plan preparation, and mentoring.
“Entrepreneurial skills of the youth in the area of BARMM are needed for them to survive in the new order of Peace and Development.”
“Entrepreneurial skills of the youth in the area of BARMM are needed for them to survive in the new order of Peace and Development not by sound of bomb, cannons, and heavy gun fires but by the music of weapons of mind and heart and the market of the Ministry of Trade, Investment and Tourism that are equally important for Bangsamoro Youth to attain the ocean of peace and progress,” said by MTIT Minister Abu Amri Taddik.
Taddik firmly believed that they can easily achieve their goals by adapting the new plans and strategies and to collaborate with the private sectors, academe, civil society organization, and the youth of native Bangsamoro homeland of Mindanao and its islands of Basilan, Sulu, and Tawi-tawi.
Further, the program is partnered and supported by MSME Development Council, Center for Strategic Reforms of the Philippines, Commission on Higher Education, Cooperative Development Authority, Department of Education, National Wages and Productivity Commission, National Youth Commission, Philippine Center for Entrepreneurship-Go! Negosyo, Philippine Chamber of Commerce and Industry, Philippine Trade Training Center, Philippine Young Entrepreneurs Association, Technical Education and Skills Development Authority, and Youth Entrepreneurship Academy.
Urging the partners and stakeholders to strengthen young Filipinos in BARMM through YEP!, Trade Undersecretary Blesila Lantayona said that the first step is to instill the right and positive entrepreneurial mindset among young people, making them prefer entrepreneurship as a career path.
“With young people as business owners, they will likewise have active engagement and concrete contributions to ensure BARMM communities thrive.”
“We recognize entrepreneurship as a challenging yet extraordinarily rewarding employment track that uplifts the quality of life. We are firmly affirmative that with young people as business owners, they will likewise have active engagement and concrete contributions to ensure BARMM communities thrive,” Lantayona added.
The virtual event was also participated by successful young entrepreneurs in the region who also shared their inspirational journey and mentorship to the young aspirants.
