A $30 million scheme will be launched to help 1,000 youngsters become self-employed while $500 million will be used for two youth training schemes.

Permanent Secretary for Economic Development & Labour Matthew Cheung said the one-year Youth Self-employment Support Scheme pilot programme will target people aged 18 to 24.

Participants will be given training, hands-on practice and support services in areas like IT and multimedia applications, personal care and public performance. They will be trained to conduct market research, marketing strategy, sales technique, customer service, financial management and budgeting.

"We trust the experience gained from the scheme will be useful whether or not the applicant chooses to run a business or go into employment in the end," Mr Cheung said.

Number of self-employed growing

Self-employment has grown considerably in the past decade, notably in the business, community, social and personal services sectors. The number of self-employed has risen from about 5% of the employed population in the early 1990s to 7% last year, which translated into some 225,000 people being self-employed.

The unemployment rate for the 15 to 19 age group fell to 24.4% from last summer's historic high of 37.6%, and to 8.8% from 14.6% for the 20 to 24 age group. In absolute terms, 16,000 youths aged 15 to 19 are currently jobless while 27,000 youths between 20 and 24 are out of work.

Noting the figures are still unacceptably high, Mr Cheung said the Youth Pre-employment Training Programme and the Youth Work Experience & Training Scheme will offer training and jobs for some 34,000 youths in the next two years at a cost of $500 million.