Labour Youth has today welcomed the unanimous support from the Labour Parliamentary Party for the establishment of a Youth Entrepreneurship Fund. The proposed fund would be set up exclusively to assist young people in their first steps of enterprise and innovation.
Speaking on the news from the Labour Parliamentary Party meeting, Labour Youth National Chairperson Aideen Carberry said: “Youth unemployment is now at over 30% in Ireland. The social and economic effects that are caused by high levels of unemployment among young people cannot be underestimated. We have been actively campaigning for the introduction of a European Youth Guarantee, but also for the additional support that a Youth Entrepreneurship Fund could bring.”
“There are funds already established to help entrepreneurs in Ireland, and a fund specifically supporting women, the Comprehensive Start Fund. Credit is difficult enough to get these days, particularly so for young people. But why should our ideas not be given a chance to succeed? We feel that it is time for a fund specifically for young entrepreneurs. We constantly hear people comment on our well-educated and skilled workforce. So let’s not see that talent go unused. Young people have so much to offer with their enthusiasm, creativity and ambition,” said Carberry.
“Special thanks should be attributed to Labour Party deputies John Lyons and Michael Conaghan for their work in pushing this proposal in the Oireachtas Jobs Committee. All support from this proposal, across the political spectrum and individual parties, is to be welcomed.”
“At our national conference in Wexford in November 2012, Labour Youth supported a motion proposed by Darragh O’Neill of Kildare North Labour Youth calling for the creation of a Youth Entrepreneurship Fund. Since then, our members have lobbied TDs, senators, MEPs and ministers for their support to establish this fund. We are delighted that the proposal received unanimous support from our colleagues in the Parliamentary Party and we look forward to seeing this proposal realised. Young people need hope, and we feel that the Youth Entrepreneurship Fund will help give hope to young people during these economically difficult times,” said Carberry.