SPUR YOUTH, WOMEN social business growth in Pakistan
Pakistan’s 210 million people are younger than 30 with 29 per cent aged between 15 and 29.
This new generation of young Pakistanis was not only aware of the political and socio-economic challenges faced by the country, but has also found social networks to voice opinions.
“Social issues no longer go unnoticed, and there is a general increase in public eagerness, particularly among the youth, to step up and bring positive change,” Ayesha said.
YOUTH MOVEMENT
As the government struggles to find solutions for a nation affected by poverty, water scarcity, climate change and lack of sanitation, social startups are emerging to fill the gaps.
Pakistani banker and economist Ishrat Hussain, adviser to Prime Minister Imran Khan for Institutional Reforms and Austerity, said he was not surprised by the poll results.
Hussain cited microfinance institutions, business schools and the digital economy for supporting entrepreneurship.
“There are higher education institutions that have set up entrepreneur centres which are arming people who are not formally trained with business tools, especially women, farmers, youth ... people otherwise neglected,” he added.
Most social enterprises in Pakistan are headed by young entrepreneurs. About onefifth are led by women compared with 5 per cent of mainstream companies, according to
British Council research.
Neelum Hassan, a 26-year-old industrial design graduate, founded her social enterprise, Aerosync, in 2016 to design and manufacture products with a social or environmental impact.
Her first project is a design for a lightweight, solar-powered mobile cart with foldable counter that converts into a shelter for the thousands of street vendors in Pakistani cities.
Street and mobile vending lets people set up businesses with minimal outlay and no paperwork, but they have increasingly faced crackdown from authorities for not having licences. Her plan would provide a ready-made package with registered carts, allocated space and affordable lease schemes.
Hassan won the “Most Promising Woman-led Business” award at the Global Clean tech programme set up by the United Nations Industrial Development Organization and the $15,000 prize money went towards developing a small manufacturing line, she said.
“I personally won’t call this a success story because the journey has just begun,” Hassan said.
Improved access to local and international investment — with Pakistan jumping 24 places to 9th place in the latest poll, conducted in partnership with Deutsche Bank — has helped many young social entrepreneurs get their ideas off the ground.
Support group Impact Link was launched in December 2018 with backing