Youth Business Mongolia (YBM) is an independent, not-for-profit
program that supports young entrepreneurs in Mongolia who
want to start and grow small to medium size enterprises (SMEs).
Employment opportunities for young people are in a state of crisis. Young people make up 40% of those unemployed globally. They are three times more likely to be without a job than other age groups. What is more, there are currently 1.2 billion young people in the world, and this number is expected to continue to rise until 2035. 600 million new jobs are needed over the next decade even to sustain current levels of employment.
According to the World Bank, 15.1% of Mongolian young people were unemployed in 2016. This alarming figure is substantially higher than the international average of 12.6%, and represents considerably threat to economic development and political stability.
Part of the Youth Business International network based in London, Youth Business Mongolia began operations in 2013. The Youth Business International initiative has over forty global partners, working with expert local organizations in order to tailor the goals of the initiative to each the unique context of each country.
In Mongolia, YBI has partnered with Development Solutions NGO, which is a Mongolian organization that has specialized in business development for SMEs since 2008.
The aim of the program is to support environmentally-sound social and economic growth by providing young people with the technical training, mentoring and financial support they need in order to start and run a successful business.