Entrepreneurial skills training
What is entrepreneurial skills training and how is it taught?
Entrepreneurial skills training provides the basics of starting and operating a small business. Such training must develop the skills associated with entrepreneurship and include, but are not limited to, the ability to:
(1) Take initiative
(2) Creatively seek out and identify business opportunities
(3) Develop budgets and forecast resource needs
(4) Understand various options for acquiring capital and the trade‐offs associated with each option;
and
(5) Communicate effectively and market oneself and one’s ideas
- Enterprise development which provides supports and services that incubate and help youth develop their own businesses. Enterprise development programs go beyond entrepreneurship education by helping youth access small loans or grants that are needed to begin business operation and by providing more individualized attention to the development of viable business ideas.
- Experiential programs that provide youth with experience in the day‐to‐day operation of a business. These programs may involve the development of a youth‐run business that young people participating in the program work in and manage. Or, they may facilitate placement in apprentice or internship positions with adult entrepreneurs in the community.
This element includes:
- Services that provide labor market and employment information about in‐demand industry sectors or occupations available in the local area, such as career awareness, career counseling, and career exploration services
- The body of knowledge that describes the relationship between labor demand and supply Labor market information (LMI) tools can be used to help youth and young adults to make appropriate decisions about education and careers. LMI identifies in‐demand industries and occupations and employment opportunities; and, provides knowledge of job market expectations including education and skills requirements and potential earnings. LMI tools also can aid in facilitating youth awareness of the career fields that are likely to provide long‐term employment and earnings in local labor markets.
WIOA youth programs and providers should become familiar with state and federal LMI data and LMI tools, which are provided for free by agencies, in order to share relevant LMI with youth. Providing such readily available online services can be accomplished by connecting the youth with American Job Centers and other entities that have career exploration tools, ability and interest inventories, and provide related employment services. DOL electronic tools particularly relevant to youth include My Next Move and Get My Future. In addition to connecting youth to self‐service LMI tools, it is important for youth providers to share and discuss state and local LMI with youth participants.
The process in which youth choose an educational path and training or a job which fits their interests, skills and abilities can be described as career exploration.
Career counseling or guidance provides advice and support in making decisions about what career paths to take. Career counseling services may include providing information about resume preparation, interview skills, potential opportunities for job shadowing, and the long-term benefits of postsecondary education and training (e.g., increased earning power and career mobility).
- Utilizing current LMI tools that are provided by State or Federal agencies
- Information that does not provide context to information (i.e. only providing listing of local job openings)