Entrepreneurship for Unemployed Graduates

Sep 21 , 2024
By Kidist Yidnekachew

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This year is a significant milestone as my son begins school, bringing me excitement and anticipation. While delivering school supplies, I spoke with one of his teachers, who was dedicated to registration and often worked late.

During our conversation, the teacher shared his background in psychology, which intrigued me since I studied the same field. He expressed his aspiration to become a lecturer but fell short despite a strong academic score. To make ends meet, he worked as a security guard, and eventually transitioned to becoming a kindergarten teacher.

There is a notable disconnect between education and the job market, as many individuals with advanced degrees struggle to find jobs that match their expertise. This issue, referred to as "educated unemployment," poses complex challenges that affect both economic growth and social cohesion.

I felt a wave of sadness reflecting on life's unexpected twists; it seemed absurd that this man, after years in university, ended up as a security guard. It suggested that his degree was unnecessary for such a role. His experience is common, as many graduates in fields like engineering also face unemployment and take jobs far from their aspirations, such as shoe shiners or waitstaff.

A key factor in the disparity between education and employment is the current job market. Despite recent economic growth, job creation has not kept pace with the influx of graduates, leading to intense competition for limited positions. Employers often prioritize hands-on experience and specific skills over academic qualifications, making it harder for new graduates to find suitable job opportunities.

Educated unemployment in Ethiopia is a complex issue with multiple intertwined causes. Despite progress, there remains a significant gap between the skills gained through education and available job opportunities. Addressing this challenge requires a comprehensive approach that includes economic strategies, educational reforms, and strong actions against corruption. Confronting these foundational issues is essential for finding an effective solution.

In Ethiopia, nepotism and corruption significantly worsen educated unemployment. Job openings are often filled based on personal connections or financial incentives rather than merit, undermining equal opportunity. This trend discourages capable individuals from pursuing higher education, as they may see it as futile. As a result, many struggle to find suitable employment, often settling for lower-paying jobs or facing unemployment, which negatively impacts their financial stability and family well-being, creating widespread hardship and uncertainty.

Graduates should consider exploring entrepreneurship as an alternative to traditional career paths. By leveraging their education and skills, they can create their own opportunities and enjoy the freedom that comes with starting small businesses. This entrepreneurial journey provides valuable experience and helps build a solid reputation, enhancing future employment prospects. Moreover, it encourages innovation and meets local market demands, ultimately generating new job opportunities for the community.

Starting a business requires significant courage, risk, determination, and perseverance. Aspiring entrepreneurs must develop a solid business plan, refine essential skills, and build a network of connections. They may face challenges like securing funding, navigating regulations, and competing in the market. However, the rewards of entrepreneurship can be substantial, providing financial benefits and a deep sense of personal fulfilment.

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PUBLISHED ON Sep 21,2024 [ VOL 25 , NO 1273]

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