In cooperation with Center for Youth Education and with support of the regional program Web4Yes, Center for Economic Prosperity and Freedom – CEPS is realizing a project “Youth Entrepreneurship Academy”, within which 50 young people will get the opportunity to gain basic knowledge and skills in the field of entrepreneurship and employability.

Youth Entrepreneurship Academy is a 3 modular training:

1. ENTREPRENEURSHIP AND BUSINESS which includes the following thematic areas:
a. Introduction to social entrepreneurship (concept origins, social entrepreneurship as the change driver, conceptual definition of social economy, characteristics of social entrepreneurship, basic concepts of solving social problems, social innovations)
b. social enterprises (importance of social enterprises, forms of social economy organizations, social enterprises in general, successful management structure of social enterprises, opportunities for financing social enterprises)
c. social entrepreneurship in Montenegro (institutional framework, support mechanisms, the state of the social economy, social enterprises in Montenegro – legal framework, key features)
d. entrepreneurship and business (concept and definition, generation of entrepreneurial ideas, entrepreneurial process, profile of a successful entrepreneur, entrepreneurial milieu in Montenegro, legal framework, how to start a company, institutional support for entrepreneurship)
e. social innovation process (design thinking, cross-sectorial approach, definition of innovation, typology of innovation, sources of innovation, innovation strategy, creative methods of generating ideas)
f. impact management (impact measurement, PESTLE analysis, SWOT analysis, key stakeholder analysis, problem tree – analysis of problems, goals and strategies, Change Theory, 5 impact dimensions, monitoring and evaluation)
g. business planning (business model generation, Lean methodology, Business Model Canvas, pivoting, business strategy implementation, planning, financial analysis)

2. FINANCIAL MANAGEMENT which includes the following areas:

a. basic financial reporting framework (international financial reporting standards, national financial reporting standards, accounting concepts and principles)
b. dual bookkeeping and accounting systems (forms and contents of bookkeeping, contents of logs, general and auxiliary books)
c. accounting principles, concepts and theories (concept, goals and objectives of accounting, basics of dual accounting system, accounting principles, principles of proper accounting)
d. regulatory framework (international accounting regulations, national legislation, internal regulations of a business entity)
e. financial statements (balance sheet, income statement, cash flow statement, statement of changes in equity)
f. interpretation of financial statements (balance sheet, income statement, cash flow statement)
g. elements of the financial statements (asset structure, liability structure, cash flows)
h. contents of individual financial statements (structure of income statement, balance sheet structure, structure of cash flow statements, change in capital structure)
i. analysis and interpretation of financial statements and related information (income statement information, balance sheet information, cash flow information, information on changes in equity)

3. CAREER COUNSELING will be organized in accordance with the methodology of the UNESCO “Career Guidance Manual”. The process is designed to be a comprehensive counseling process that will support young people in creating careers guidance and life plans. Career guidance is not limited to the formal education system and/or choice of profession, but also addresses other developmental areas for young people. Through career counseling, young people will receive a range of conceptual and practical tools related to the planning and use of key competencies and abilities of young people, harmonization with interests, strengths and opportunities for personal development, analysis of social and work environment, as well as obstacles and opportunities that exist, etc. The process involves much more than testing or learning about available careers or professions, in a way that it provides information and support for young people to make decisions about their own futures in terms of career, further education and personal goals.

After the Youth Entrepreneurship Academy, all participants will receive pro bono mentoring and advisory support, whether they plan to start their own businesses or seek for employment opportunities.

More info on the application process in available in Montenegrin. Deadline for the application is December 22, 2019 (until 23.59h)