Thinking Space Paper No.2: Effectuation principles supporting young underserved entrepreneurs

Not all entrepreneurs can tap into large funds, which does not mean that they cannot be successful. Young entrepreneurs can start small with who they are, what and whom they know and then focus on downsizing the risk. This paper provides an overview of tools and methodologies that can be applied in the three business creation phases orientation, planning and testing, as well as in sustaining a growing of the created enterprise. The effectuation tools are linked to topics addressed in business planning and lean start-up. These tools should be helpful when supporting NEETs aiming to start a business, as the approach targets using the means which the young entrepreneurs have already available.