IBA, as part of its strategic vision, made significant improvements in practically every aspect of its governance, infrastructure, curriculum, staff strength and quality, and course offerings. As part of this on-going strategy and in response to the Country's priorities and requirements, IBA developed a Center for Entrepreneurial Development (AMAN-CED) to foster entrepreneurship and business innovation and to provide advisory and support services to current entrepreneurs with a special emphasis on women students and entrepreneurs.
Based on an extensive demand assessment survey and saturation of traditional avenues of employment, it was clear that Pakistan's youth needs alternative, independent and innovative career paths. The industry profile of those surveyed demonstrated 53% were working for someone else or presently employed, 35% were existing students, 6% were existing entrepreneurs, 4% were a part of family businesses, and 1% were in partnerships. From the 1,860 reponses received, more than half of the respondents in the surveyed sample had undergraduate and postgraduate degrees. Approximately 30% of survey respondents were females while more than 80% were below the age of 30.
The surveyed population expressed a keen interest in entrepreneurship with over 66 percent wanting to be self-employed in the near future. Approximately half the surveyed population felt that although they want to establish their own businesses in the future, they lack the knowledge, skills and experience to do so.
Entrepreneurship not only provides the solution to our youth it is also the key driver of growth for all developed and developing economies around the world. More importantly, the AMAN-CED serves as a focal point for women – students, working women and those considering re-entering the workforce – to develop new skill sets allowing career and economic independence.
The AMAN-CED initiative is designed to improve the competitiveness of the Pakistani economy by strengthening systems for workforce development, encourage Pakistani companies to invest in human capital, and improving access to training, jobs and business opportunities for youth and women.
The AMAN-CEDs target population includes business partnerships, family businesses, self-employed, those presently studying and those working for someone else, but wanting to be entrepreneurs. However, major beneficiaries of IBA's AMAN-CED program are women and youth who are enterprising and willing to venture into businesses, small and medium both, to improve their existing socio-economic conditions.
The key objectives of the AMAN-CED include: