Aqsa Mukhtar (GCUF) Zarka Akram (GCUF) Faizan Nasir (GCUF)Rizwan Nadeem (GCUF)Literature UN says that youth is consist on those person who have ages of 15 to 24 years. A person who is falling in 15 to 24 age group have great mental abilities and have good edge and stamina of competition.1 Other researchers said that good business initiators and retainers must have capabilities such as risk taking personality, culture adoption and ability to develop their businesses.6 There are few of studies based on youth entrepreneurship. For instance, 18 sum up study 6 on that researches those have focus on entrepreneurship of young age people. And results we get that from these research studies, we come to know that the initiating and development of business influenced by society, environment, religion and other values which is adopted by that culture in which we want to start business. On the other hand, the internal and personal characteristics included taking risk ability, focusing on work deeply and have a vision to get experience is helping for youth to start new venture. 6 “Starting business is a process in which include the findings and interpretation of scattered business ideas to bring new and innovated products, management techniques, marketing methods in business those are not introduced before (Venkataraman 1997). “Entrepreneurship is the best way by which we get new experiences that are used to generating innovative ideas and making different products and services for market” (Shane and Venkataraman 2000)”The meaning of entrepreneurship is the process of inspecting venture capital and generating ideas, managing venture to introduce an innovative process of producing goods and services, increasing investment, acquiring workers, arranging for the supply of raw materials, and making a place where these elements are used to start business for long term benefits, make an unseen before ways and formulate best team for managing daily work.Schoof (2006) tells that we cannot find a comprehensive and structured explanation of young business persons which is acceptable for anyone. For this study we have gather that a person who is falling in 16 to 40 years age group is called young entrepreneur (CBS 2011), who is able to point out fortuity when it arise, and look into it to make it problem solving and creating money by initiating, and by doing innovations in current business structure, (Rugimbana and Kojo Oseifuah 2010)Blanchflower and Oswald (1998) evaluate this thing that business mindset and business practices in youth contains many good points in it. First of all young business persons are able to provide employment opportunities which is surely contribute to face youth unemployment challenges both employee and employer play major part in it, and also many start-up will be good well knowing firm after few years, on the other hand young people become new trend setters and make opportunities which is suitable for economical situation of country, and also new small businesses contribute to enhance survival capacity of economies, in the last it makes youth people to be satisfied from their work.Governments and global organizations is thinking now that volume of jobs for new people is very low, so they are focusing on entrepreneurship by which they get and gathered youth in marketplaces, which is contribute to tackle unemployment challenges. (Murithii 2013). Young business persons are playing very well part not only in the advancement of commercial enterprises and it also doing good work for the enlargement of the mercantile of a country. Because they are on the way in which they have favorable circumstances for making new jobs for youngsters, by which they can raise their incomes and destroy the many circumference of exiguity (Chigunta 2002). Education: Less knowledge about business is hurdle for youth to starting a business and it leads youth on that stage in which they have very narrow scope for point out business idea, lack of education also prevent youth and confines their endowments to bargaining with administrations which is dealing in wealth and regency, and also it stops for raising their opinions in-front of them (Bushell 2008). If a person get business initiating and retaining knowledge from surroundings surely that person play a very well part in making his or her mind towards entrepreneurship and starting a new business(Pillania, Lall et al. 2009). Henry Ford says ” Competitive advantages of a country is not generating in industries or in the workshops, but it is generating in school, colleges and in universities”. “People who are falling in young age group have abilities and dedication towards starting a business but they do not have much money”(Rahmawati, Hasyyati et al. 2012). Wealth Conditions of a person is good or bad plays major role in the starting new business for many purposes (Pillania, Lall et al. 2009). Budget abutment is very crucial part for making start up progressive for all entrepreneurs (Zimmer 1986). The idea of need for achievement is elaborated as the person who have need for consummation is highly involved in different type of works and also need more good expertise and endeavors than those persons who have low or no need for consummation (Robinson, Stimpson et al. 1991). Consummation’s demanding habit makes a business person to full fill his or her private ambitions, it makes able entrepreneurs to get information about how they can utilize procurable things effectively and evaluate the opportunity to make different and useful commodity and ministration for customers (Pillania, Lall et al. 2009). A good and favorable start-up culture is there, where regulations of organizational bodies regarding pursuit are making good and endowment friendly environment, and venture control methods and rules are good and efficient, constitutional limits are relaxed and administrative system is good, and also start up counseling, supervising, wide range of business incubation centers, easy reachable mechanism of finance, various development programs and training, is very good for making entrepreneurial environment (Gwija 2014). Entrepreneurship culture is very necessary for making country’s economical condition more efficient and effective, and it is generally acceptable thing. So Pakistani government and all governments of globe is making entrepreneurship culture in their countries, by giving training sessions and regulations that make entrepreneurship easy in also make existing businesses more effective. Good and meaningful new businesses is also engage with the struggle of evaluating, initiating, handling, unrolling and making innovations effectively. Awareness is difficult thing but it is boosting a person’s thought to initiate and control business to achieve good social rank in his or her companionship (Nieman and Nieuwenhuizen 2009).New business starting abilities includes point out new ideas and work good on those ideas. McClelland (1965) shows these skills to start successfully and make progressive the new business start-up. Internal restraint Ability to manage hazards Newfangled Mutation acclimatizeImmovable EnthusiasticDedicatedReviewing the issues of youth entrepreneurship in Pakistan, Uneducated, untrained and unemployed youth make up the larger portion of the Pakistani youth. Most of them quit the studies and enter the job market with no or less skills, including women, there according to an estimate more than 32% unskilled youth in Pakistan. (Sana Z. and Hira H. 2011) Pakistani youth, rural and urban, male and female, face great number of issues and challenges at different levels. Policymakers need to design long term plans to address the demographic implications. By and large young people are getting frustrated with the empty promises of the government and no much progress in implementation of youth related development policies. This gives impetus to increased public-private efforts to take practical steps for improving youth condition in the country. Meanwhile, youth in this whole process have a central active role to play. (The Next Generation, 2009) Youth polices are formulated to carve out strategies for youth development. These policies aim at finding pathways to solve youth related issues and design action plan to achieve youth development. Punjab Youth Policy-2012 has tried to point out the youth related problems in the province. According to the policy, youth of the province need to be empowered with required skills and knowledge to cope with main three challenges i.e. social, economic and political. Youth bulge and demographic transition is also given due importance in the policy. This policy also focuses on “Skilled” knowledge workers. (Punjab Youth Policy, 2012) This report has mentioned many objectives to be achieved, but again it lacks proper action plan with any timeline or agendaResearch Methodology:Research Question:In this research paper we analyzing issues regarding youth entrepreneurship challenges in Faisalabad Pakistan. Our main objective of study is to analyze entrepreneurship challenges facing by youth of Faisalabad regarding starting business and retaining business in this era.Challenges of Entrepreneurship in Faisalabad facing by youth in starting and retaining business?Objectives:To find challenges for youth entrepreneurs in starting business.To clear these challenges for young entrepreneurs.To find solutions of these obstacles. Population:Hungler and Polit (1999) tells that word population means that total of objective covered, and all participants those are relevant to specifications which is set by researcher. Population as a full set of elements that may include individuals, groups, organizations, human products and events from which a sample can be drawn to generalize results for the entire population” (Welman and Kruger 2001). Population of this study is youth of Faisalabad whos operating and starting business in this city. Young businesses that are registered or not registered in FCCI is included in this study. Population for this research consists of university students because 90 percent of university students are falling under 20-40 age group and university is major platform to providing business mindset and opportunities and many universities promote entrepreneurial culture in youth i.e. many leading universities have Business Incubation Centers which provide ideas, skills, resources for youth to initiating and retaining business. Some of population is taken from different type of youth which is not enrolled in universities and operating their businesses in Faisalabad. These are also registered and non-registered in FCCI (Faisalabad Chamber of Commerce and Industries).Sample Size Sampling is a minor part of the population which we select for research by this we are able to get result of whole population.The mission of the sampling methods is to generate findings from targeted sample and achieve results from it and implement that findings on whole population. (Marshall 1996)Most of the researchers know that the sample size must be large, because while implementation of research study on population we get less errors because it is close to whole population. It is very difficult to target whole young people who want to start their own business and whos businesses is established in Faisalabad, so with the purpose of choosing sample we select Government College University Faisalabads students and some people in market. We collect data from 100 people both from university and market, 70 percent people from university and rest is from market.The main edge of collecting random sample is that the questions are easily understand by everyone and have positive points for population in this way that everyone can participate easily in collecting data process and the negative points of random sample is that we have need to communicate with different people to collect information about research study and most of them have no or less interest to participate in this process or answer that questionnaire attentively which we provide them to getting data.Data Collection Ordinary collection of data is important to confirm that data is collected in accurate way & we must give decision based findings which are according to topic. We can collect data from both primary and secondary sources, in this research study we collect data from primary source is called primary data by disseminating questionnaire among people and collect data from them. References:1 C. P. Kamal, H. Azimi, B. A. Samah, A. I. Ismi, and J. L. DSilva, Rural Malay involvement in Malaysian herbal entrepreneurship, Asian Social Science, 10 (2), 2013, 202—208. 6 K. L. Chan, S. Selvadurai, and A. H. Bahiyah, Malay youth entrepreneurship in Malaysia?: An empirical update, Malaysian Journal of Society and Space, 2(2), 2009, 55—67. 18 M. Nguyen and A. Phan, Entrepreneurial traits and motivations of the youth — an empirical study in Ho Chi Minh City — Vietnam, International Journal of Business and Social Science, 5(1), 2014, 53—62. KC, F. B. (2004). ENTREPRENURES IN NEPAL: An Empirical Study, Kathmandu: Tribhuwan University NepalShane, S. and S. Venkataraman (2000). “The promise of entrepreneurship as a field of research.” Academy of management review 25(1): 217-226. Punjab Youth Policy (2012), The Punjab Youth Policy-2012, Youth Affairs, Sports, Tourism and Archaeology department, Government of Punjab Marshall, M. N. (1996). “Sampling for qualitative research.” Family practice 13(6): 522-526.Sana Z. and Hira H. (2011), Engaging and Mainstreaming Youth in Development Agenda Youth Make it Happen. Retrieved on (29th October, 2014) from SSRN: http://ssrn.com/abstract=2041170 orhttp://dx.doi.org/10.2139/ssrn.2041170 The Next Generation (2009), Pakistan: The Next Generation British Council, Pakistan.McClelland, D. C. (1965). “N achievement and entrepreneurship: A longitudinal study.” Journal of personality and Social Psychology 1(4): 389. Gwija, S. A. (2014). Challenges and prospects of youth entrepreneurship in Khayelitsha, Western Cape. Gwija, S. A., C. Eresia-Eke and C. G. Iwu (2014). “Challenges and Prospects of Youth Entrepreneurship Development in a Designated Community in the Western Cape, South Africa.” Nieman, G. and C. Nieuwenhuizen (2009). Entrepreneurship: A South African Perspective, Van Schaik. Pillania, R. K., M. Lall and S. Sahai (2009). “Motives for starting business: Indian women entrepreneurs perspectives.” International Journal of Indian Culture and Business Management 3(1): 48-67. Schoof, U. (2006). Stimulating Youth Entrepreneurship: Barriers and incentives to enterprise start-ups by young people, International Labour Organization. Zimmer, C. (1986). “Entrepreneurship through social networks.” The art and science of entrepreneurship. Ballinger, Cambridge, MA: 3-23.Robinson, P. B., D. V. Stimpson, J. C. Huefner and H. K. Hunt (1991). “An attitude approach to the prediction of entrepreneurship.” Entrepreneurship theory and practice 15(4): 13-31. Murithii, C. (2013). “Youth Polytechnics Education and Entrepreneurship in Kenya;(Are We Promoting Entrepreneurs?).” International Journal of Academic Research in Business and Social Sciences 3(5): 491.CBS (2011). National Population and Housing Census 2011. kathmandu, Nepal, Central bureau of Statistics Nepal. Shane, S. and S. Venkataraman (2000). “The promise of entrepreneurship as a field of research.” Academy of management review 25(1): 217-226. Venkataraman, S. (1997). The distinctive domain of entrepreneurship research. In Advances in entrepreneurship, firm emergence and growth, 3. 119-138. JAI Press Inc. Hungler, B. and D. Polit (1999). “Nursing research principles and methods.”Welman, J. C. and S. J. Kruger (2001). Research methodology for the business and administrative sciences, Oxford University Press. Gwija, S. A. (2014).