A Young Entrepreneur Makes a Living While Giving Back

In Albania, as in other parts of the world, young people make up nearly half of the unemployed population. In the absence of jobs, many talented youth, such as 29-year-old Adriatik Allamani, dream of starting their own business.

Yet aspiring young entrepreneurs like Adriatik face numerous obstacles, including high interest rates of up to 30 percent offered to young people taking out loans, the price of registering a business, and the knowledge they will need to develop it and ensure its success.

Matching the ambitions of youth entrepreneurs with the resources they need to realize their dreams is the goal of Youth Business Albania (YBA), a joint initiative of the Balkan Children and Youth Foundation (BCYF) and Youth Business International. “Over the past year, YBA has made 17 loans totaling $55,800, to 20 young entrepreneurs, such as Adriatik, to launch small enterprises,” says Jean-Pierre Isbendjian, Director of Programs at the International Youth Foundation, which provides ongoing financial and technical assistance to BCYF.

With the $3,400 loan he received from YBA, Adriatik was able to start his own Internet center in an apartment complex on the outskirts of the Albanian capital of Tirana. Adriatik’s business offers not only computers and coffee, but serves as a classroom for children and youth from the school across the street, and other youth seeking to learn computer skills. One year after launching his business, Adriatik has expanded his enterprise to include a café-bar and has hired two additional staff.

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Click here to learn more about the Youth Business Entrepreneurship Program in Albania.

Read more about the Balkan Children and Youth Foundation