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Bangkok Post
Bangkok Post
National
ITSARIN TISANTIA

Taking care of business

Photos by courtesy of Bangkok Post

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Read the following story by Nareerat Wiriyapong from the Bangkok Post. Then, answer the questions that follow.

Developing entrepreneurs is an effective way to help tackle high unemployment among young people.

OUT OF WORK

Given the reality of ageing populations in many countries, it shouldn't be difficult for young people to find a job. However, youth unemployment and underemployment remain high for a number of reasons.

The number of jobs available is actually shrinking in some markets as automation reduces the need for manual labour. Nowadays, many young people struggle to get by with part-time or short-term positions that offer little job security and no clear career path.

There are around 1.2 billion 15-24 year-olds worldwide, 71 million of whom are unemployed, according to the World Bank. In Asia Pacific, the youth population is 700 million, with 33 million without work. Many live in poverty.

SURVIVAL SKILLS

Youth unemployment is a major challenge for Asian policymakers who want to use the full potential of their countries’ populations. Creating self-employment by developing an entrepreneurial spirit is a good way forward, experts say.

“With fewer jobs and more job seekers, more young people need to be creating employment for themselves,” said Ulrike Guelich, team leader of Global Entrepreneurship Monitor (GEM) Thailand at the Bangkok University School of Entrepreneurship and Management, and a board member of the Global Entrepreneurship Research Association.

She added that successful entrepreneurial ventures mean employment for others.

LACK OF EXPERTISE

Currently, only 0.6 percent of people aged 15-24 globally are employers. Aspiring young entrepreneurs tend to lack business and management skills, mentoring and funding, Guelich said, citing studies conducted by Junior Achievement (JA) Worldwide and the consultancy group McKinsey.

“Dealing with these barriers will require greater cooperation among governments, education providers, the financing sector and entrepreneurs as mentors,” she said.

Creating more opportunities for young people to enter the labour market as entrepreneurs will spur future job creation. The World Bank has found that 70 percent of jobs are created by micro, small and medium-sized enterprises.

 Xu Haoliang, assistant secretary-general of the United Nations and director of the UN Development Programme (UNDP) in Asia Pacific, said one-third of children in the region do not go beyond primary school and about a quarter of those aged 15-24 are in need of education or employment.

“When young people are not actively employed, they are not part of the decision-making process. This affects their lives,” he said.

SUSTAINABLE GROWTH

Xu was speaking at the Youth Co:Lab Summit 2018, recently held in Bangkok. He said the goal of the programme is to create an ecosystem that integrates young people, the government and businesses, drawing on the expertise of other members of the UN family.

With partners including the Citi Foundation, the programme promotes youth entrepreneurship that is tailored to the needs of each country and can also be scaled up to create more economic opportunities.

“It’s not only about everybody creating a business, but about building youth confidence and an entrepreneurial spirit that can be applied anywhere in their careers. Young people want to become independent and create initiatives that are sustainable,” Xu said.


Section 1

Read through the story and answer the following multiple-choice questions.

1. What is the article about?

a. Ageing populations.
b. Failings of the education system.
c. An initiative to help young people’s career prospects.

2. According to the World Bank, how many young people in Asia Pacific are unemployed?

a. 33 million people.
b. 71 million people.
c. 700 million people.

3. What is McKinsey?

a. A non-profit organisation.
b. A firm that provides advice on a particular subject.
c. A programme aimed at promoting social entrepreneurship.

4. Which of the following best describes the term “ecosystem” used in the article?

a. The way in which plants, animals and people are related to each other.
b. A group of organisations or business activities that affect each other and work well together.
c. All the living things in an area and the way they affect each other.

5. Who suggests building young people’s confidence and entrepreneurial spirit?

a. Xu Haoliang.
b. Ulrike Guelich.
c. Both a and b.

6. Which of the following statements is TRUE, according to the article?

a. At present, 16 percent of people aged 15-24 are employers.
b. The World Bank found that 70 percent of the current jobs are provided by medium-sized enterprises.
c. Ulrike Guelich thinks that improving entrepreneurial skills requires cooperation from various sectors.

7. Which of the following statements is NOT true, according to the article?

a. Xu is a board member of the Global Entrepreneurship Research Association.
b. The Youth Co: Lab Summit 20118 was recently held in Bangkok.
c. Xu thinks that young people want to become independent and to create initiatives that are sustainable.

Section 2

Specify whether each of the following words is used in the story as verb, noun, adjective or adverb.

8. needs

…………..

9. entrepreneurial

…………..

10. anywhere

…………..

11. actively

…………..

12. affects

…………..

Section 3

Read the following passage. Then, fill in the blanks with the correct words from the choices given.

Brandee McHale, president of the Citi Foundation, said …..13….. recent survey revealed that the entrepreneurial spirit …..14….. strong among young people in Asia Pacific. “In the Asia Pacific region, many of the youth dream of …..15….. their own business,” she said. However, many respondents see barriers to achieving their dreams, and most of them said they needed more education or …..16….. before they could …..17….. start a business. She says it’s crucial that experts at the local, country and …..18….. levels work together to help young people secure jobs and …..19….. positive contributions in their communities.

13.

a. it   
b. it’s   
c. its

14.

a. is  
b. are   
c. has

15.

a. own  
b. owners  
c. owning

16.

a. skill  
b. skills   
c. skilful

17.

a. successfully 
b. success  
c. succeed

18.

a. region  
b. regionally  
c. regional

19.

a. making  
b. make  
c. made

Section 4

Underline one grammatically incorrect word in each of the following sentences. Then, write down the grammatically correct word in the space given.

20. There is a need for technical assistance for entrepreneurs who needs financial planning.

…………………

21. Many organisations are working to supporting youth entrepreneurship.

…………………

22. UNDP helps countries reduce poverty and achieve sustainably development.

…………………

23. Some young people do not have access at technology and education.

…………………

24. The foundation has supported youth development programmes in many country.

…………………


Answers

Section 1

1. c.
2. a.
3. b.
4. b.
5. a.
6. c.
7. a.

Section 2

8. Noun.
9. Adjective.
10. Adverb.
11. Adverb.
12. Verb.

Section 3

13. c.
14. a.
15. c.
16. b.
17. a.
18. c.
19. b.

Section 4

20. needs; need
21. supporting; support
22. sustainably; sustainable
23. at; to
24. country; countries

SCORE

21-24: Excellent!
17-20: Good.
13-16: Fair.
12 or fewer: You'll do better next time!

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