YBI global network supported over 150,000 young people to develop their entrepreneurship skills in 2023 

Youth Business International (YBI) has launched the YBI Impact Report 2023, revealing that last year the YBI global network supported over 150,000 young people to develop their entrepreneurship skills and over 65,000 young people to start or strengthen a business. 

2023 marked the first year of YBI’s ambitious strategy which aims to create a million jobs through the start-up and scale of 250,000 youth-led businesses by the end of 2025. This is not just a numerical goal but a commitment to empowering young people as agents of change, capable of building more inclusive and sustainable economies. YBI made significant strides towards this goal by supporting the start-up and strengthening of over 65,000 youth-led businesses and the creation of over 329,000 jobs in 2023. 

It was a year of expansion and deepened collaboration as we welcomed nine new members into our global network, each bringing unique strengths and regional expertise. From Greece’s Action Finance Initiative to Nigeria’s Lagos State Employment Trust Fund, these additions underscore the network’s global reach and our collective commitment to supporting young entrepreneurs worldwide. We are proud to report that 100 per cent of our members found the YBI network ‘useful’ or ‘very useful’ in 2023 and 88 per cent agreed or strongly agreed that YBI supported them to meet each other, share learning, collaborate and develop long-term relationships. 

YBI is committed to making entrepreneurship inclusive and accessible to all young people, and this was reflected across our global network in 2023. More than half of the young people supported by our network last year are women, over 17,000 are refugees, migrants, or internally displaced persons, and over 8,000 are Indigenous people. Programmes like our Revolving Loan Fund in Kenya, funded by Standard Chartered Foundation, have been pivotal, supporting women-led businesses to grow and flourish. Similarly, our targeted support for refugees, migrants, and Indigenous people through programmes like BEST by Futuremakers in Poland, funded by Standard Chartered Foundation, and The Ophikiwin Series in Canada, funded by Accenture, have provided crucial support to displaced Ukrainian entrepreneurs and Indigenous young entrepreneurs, respectively. 

As part of our strategy, we aim to inspire more inclusive, responsible youth-led businesses focused on solving social, economic and environmental problems as we believe in the power of young entrepreneurs to be a force for good. In 2023, over 37,000 businesses supported by the YBI global network had a primary purpose that was environmentally or socially focused. To better support young entrepreneurs on their sustainability and impact journeys, YBI members piloted our Sustainability Toolkit, funded by JPMorgan Chase, and Social and Green Toolkit, supported by Accenture, enabling young entrepreneurs to integrate sustainable environmental practices into their existing business or build an effective social or green enterprise. 

Young entrepreneurs have the potential to be the trailblazers of a brighter future. By providing them with the right support, we can harness their energy, creativity, and resilience to address some of the world’s most pressing challenges. As we reflect on our 2023 achievements, we are more motivated than ever to drive forward our mission, ensuring that every young entrepreneur, regardless of their background, can succeed. 

Together, we can transform the entrepreneurial landscape and make a lasting impact on the world. Join us in this journey of empowerment, innovation, and sustainable growth. 

Read the full YBI Impact Report 2023 here.