Business Youth

YESL, a breeding ground for young entrepreneurs

Tamara Nissanka

THEY INSPIRE the youth to reap the benefits of engaging in free enterprise, business and economics to independently enhance their quality of life.

Fascinated by the Junior Achievement programme in effect in the United States during his stay there, eminent Sri Lankan industrialist Patrick Amarasinghe noticed how school students were being groomed into talented and successful entrepreneurs.

Understanding the importance of incorporating a similar system in Sri Lanka, he took action to make Sri Lanka a Member-Nation Franchise holder of Junior Achievement (JA) International which has currently grown to 112 countries world wide.

Inspired by JA, Young Entrepreneurs of Sri Lanka was formed in 1991, aimed at educating school children on entrepreneurship including business economics, finance, marketing and human resources management.

The programme is approved by the Ministry of Education, and is funded by businesses, foundations and individuals. Courses are carried out at three levels- elementary, middle and high school, from Grades one to 13.

It began in Sri Lanka with 1600 students participating from nine schools in the island. Gaining momentum over the years, YESL programmes have currently addressed to entrepreneurial talents of 40,000 students in 400 schools. The number enrolments is expected to rise to 45,000 by the end of this year.

“This programme gives the know-how to children with regard to starting businesses and running small, as well as large scale industries after their schooling days are over.”, Amarasinghe explained President of YESL.

“The programme is offered free to interested schools all over the island.” However, each student is trained at the cost of Rs. 3,500 per year. In addition, millions of dollars are invested annually on upgrading educational material which are imported from the US.

The creator of this non-profit organisation, one time owner of renowned Woodplex and Furnifix enterprises admitted that the emotional satisfaction derived from thus ensuring a bright future for children through YESL, surpasses the economic satisfaction previously gained as a businessperson.

The association continues to receive positive responses from a large number of educational institutions from across the island since its foundation. Students on their part, show a great drive and enthusiasm in absorbing skills and incorporating them when getting practical in forming businesses.

Amarasinghe was glad to announce that steps are under way to introduce training programs to the East after the recent liberation. Northern Province is the only area that remains untouched by YESL.

The system is introduced to schools by trained professionals. They assist the school staff to guide students throughout the learning process. Regional coordinators have also been appointed to strengthen activities.

“Students gain practical experience in forming real life companies.

They are, thereby made to gain hands-on experience about the structure and behavior of the modern corporate environment. Those who go through our training process successfully transform into highly eligible youngsters with all necessary skills in preparing business plans, deciding on capital, drawing up annual reports etc.

They also build up self-confidence and become highly conversant in English. “, practically all material and non material resources that are necessary to successfully engage in businesses are effectively put across to learners.

Amarasinghe showed Daily News some of the business documents prepared by trained students, and added “These children are able to make better business plans than most of our small and medium companies.”

It should be said that this is due to the hands-on experience students gain from the programme. The system at YESL is not merely theoretical, but fully based on methods to provide pragmatic economic business and entrepreneurial knowledge. Students form their own companies and develop trade.

They have even managed to promote manufactured products to the global market. These are actually 6 to 18 year olds who are flying high in the world of big businesses. A company from Musaeus College, Colombo reportedly exported rubber slippers to China and made a big income.

YESL operates with a five year strategic plan to reach the target of 400,000 student enrolments and establish six regional centers to cover schools from untouched areas. The institution works together with USAID for restructuring and capacity building.

The YESL secured three Global Awards in Atlanta in 2003 for the Highest Growth, Sustained Growth over five Years and the Platinum award for most outstanding Chief Executive. Amarasinghe appreciates the state level support extended for the initiative.

But in the mean time, as a responsible citizen from civil society he senses an impending threat to our country, if the educational structure does not come up with a realistic effort to invest in the youth today to assemble a potent labour force in the future.

Exposing our future generation to the real world is certainly a mere vision if they are not given an opportunity to explore the possibilities outside classrooms and text books. Having lived through two bad insurgencies in the past, and presently troubled by augmenting youth protests, he warns.

“Now we sit on a human volcano. If that erupts, the damage is far worse than the current ethnic conflict. The youth is our biggest strength and at the same time our biggest threat.” He concluded on an apprehensive note.

Making our next generation “work force ready” is in the founder’s words what YESL does. Herein, competitions, award presentations, seminars, scholarships and local and overseas student exchanges programs are frequently organised by the institution to stimulate interest and kindle the passion for success within the young.