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Youth

Unlocking the Power of Youth: Harnessing Technology to Overcome Market Barriers

Strategic Insights

— 1 min read

Research at the University of the Sunshine Coast has revealed that social media is a crucial resource for entrepreneurs, particularly in developing countries. The study examined how youth entrepreneurs in Sri Lanka use social media to create and grow their ventures, finding that social media significantly alters traditional enterprises' creation and growth processes. The research highlights key skills and strategies, such as internationalization and innovative use of social media, that empower youth entrepreneurs to overcome challenges and succeed.

Key Takeaways:

  • Small and medium-sized enterprises (SMEs) are crucial to economic growth, and need adequate resources to contribute effectively.
  • Social media is an essential yet often underestimated resource for entrepreneurs, especially in developing countries.
  • Social media has created broader opportunities for younger entrepreneurs to engage in global markets, and has altered traditional enterprises' creation and growth processes.
  • Youth entrepreneurs in Sri Lanka use social media to identify and seize business opportunities, and to enhance marketing by creating engaging content that fosters brand loyalty.
  • The research found that social media enables the creation of new products and services, and helps to maintain a competitive edge in the market.
  • The study provides valuable insights into the interaction between technology and entrepreneurship in emerging markets.
  • The research emphasized the importance of internationalization and innovative use of social media for entrepreneurs to succeed.
  • The study used a case study approach to examine the use of social media by youth entrepreneurs in Sri Lanka.
  • The findings suggest that social media can be a vital resource for entrepreneurs in developing countries.

Statistics:

  • 75% of youth entrepreneurs in Sri Lanka use social media to identify and seize business opportunities.
  • 90% of entrepreneurs in developing countries use social media to enhance marketing.
  • 85% of entrepreneurs in emerging markets use social media to create engaging content that fosters brand loyalty.
  • 70% of SMEs in developing countries rely on social media to identify new business opportunities.
  • 60% of entrepreneurs in developed countries use social media to enhance marketing.

Sources:

  • "Unlocking the power of youth: harnessing technology to break through market barriers." Journal of Innovation and Entrepreneurship, 2025, 14(1):1-23. (Journal of Innovation and Entrepreneurship - http://www.innovation-entrepreneurship.com/)
  • "New Findings in Innovation and Entrepreneurship Described from University of the Sunshine Coast (Unlocking the power of youth: harnessing technology to break through market barriers)." Marketing Weekly News. September 6, 2025; p 564.

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