YESLYoung Entrepreneur Sri Lanka
YESLYouth Enterprise and Sustainable Livelihoods (Commonwealth of Nations)
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He said the Advanced Level student from the Polonnaruwa Royal College who started a company under YESL programmes with Rs 4,000 borrowed from his father to purchase, pack and sell tea was earlier shocked to receive papers from the Tax Department to pay income tax, the student was in fact subsequently taxed of Rs 300 by the Provincial Tax Authorities.
He said that the government should immediately change these disparaging policies and offer special concessions to at least the school children who undertake entrepreneurial ventures and he said these students are under strict supervision by the school heads and supervised, monitored and provided with essential know-how by YESL.
He said that the government also should consider various concessions for micro and small entrepreneurs and said that YESL is prepared to work jointly with the appropriate authorities in providing job opportunities through entrepreneurial skills of school children which he said if properly planned could solve the youth unemployment problem drastically where the students learn everything at grassroots level upwards.
Patrick Amarasinghe, a very successful entrepreneur and a pioneering personality of establishing trade chambers is the co-founder of YESL.
At a press briefing held in Colombo by YESL to announce the organizing of Global Entrepreneurship Week 2010 (GEW) Sri Lanka and to participate at GEW in November, he said that sponsors for these projects are difficult to find.
He said that from the inception for a period of 10 years USAID has funded YESL programme but unfortunately, due to the global financial crisis which seriously affected US, USAID withdrew funding which resulted in canceling 400 school YESL programmes.
He said that the YESL is a programme that would definitely become a very powerful tool to sustain the youth unemployment problem, but said that it is extremely difficult to find initial capital to launch a business for these willing youth who complete their education at schools.
He said that there are a lot of youth who have obtained YESL experience who are willing to commence businesses of their own, but stuck for want of initial capital.