In the UK, it has been found that a very high number of young adults are in business. Most of these entrepreneurs started their businesses before completing college or entering the workforce. Most of them pursued entrepreneurial dreams because they had other family members who pursued an entrepreneurial path while they were still students. One of the most important considerations for launching a business is whether to take a business-youth loan scheme. It has been found that the vast majority of entrepreneurs start their ventures as sole proprietors with family capital.
In this survey, the survey authors found that only 10% of entrepreneurs use only their own human capital. A majority of these entrepreneurs use either their own savings or family savings or friends' savings to finance their ventures. This means that most business entrepreneurs need to access external funding sources to finance their business ventures.
In Pakistan, the authors conducted a study investigating the financial needs of individuals under the age of 18. The research was able to confirm that many individuals require external funding in order to fund their business ventures. Most of these entrepreneurs need at least some form of external capital to finance their business. The majority of these entrepreneurs start their businesses on a part-time basis. Only a small percentage of the total number of part-time workers in Pakistan is able to launch their businesses on a full-time basis. This means that a significant share of these entrepreneurs will need to access external financing sources in order to finance their business ventures.
The survey also shows that most of these entrepreneurs who are self-employed in Pakistan start their businesses as entrepreneur 'on a part-time basis'. Only 5% of the part-time self-employed are able to launch their businesses on a full-time basis. The research found that entrepreneurs in Pakistan who engage in entrepreneurial activity are more likely to be self-employed than those in any other country.
The findings from the research further show that when the UK government plans to launch a business youth loan scheme in Pakistan it is likely to increase the number of young entrepreneurs. The UK is already a popular destination for young professionals. The presence of professional and skilled professionals in Pakistan is likely to increase the number of youth looking to start their own businesses. This is because the UK is a well-known location and a lot of young people want to relocate to the UK in order to pursue their education.
Furthermore, an entrepreneur visa would help increase employment opportunities for Pakistani youth. A prime minister's plan to launch a business youth loan scheme in Pakistan would . . . . . . increase employment opportunities for men and women. Additionally, this would improve the living conditions of the population. It is widely acknowledged that low economic growth rates, unemployment and poverty are major barriers to development in Pakistan. A prime minister's plan would help address these barriers and boost the economy.
Furthermore, a business youth loan scheme launched by a prime minister would also reduce the cost associated with offshore bank loans. An offshore bank loan can often be quite expensive in comparison to a local bank loan. An offshore loan would allow the entrepreneur to save money on taxes and payment penalties. Moreover, it may be a better option if the business owner lives abroad. The prime minister's plan may reduce the cost of the establishment of new establishments as well as the payment of salaries.
Finally, a prime minister's loan scheme may attract more investment towards the country. Currently, the government is focusing on attracting capital and investing it into small business loans schemes. If more investors move to Islamabad, then more jobs and better business opportunities will be created.