ENCOURAGING SELF-EMPLOYMENT TO ELIMINATE UNEMPLOYMENT
Unemployment is among the most pressing issues the modern world is currently facing, with over 40 % of the total world’s population unemployed. These individuals not only burden the economy by withdrawing hefty social welfare amount but also do not contribute towards the tax accounts. Unemployment is expected to soar in the coming years, and a definitive plan at hand can only fend it off. To the brighter side, the United Nations has prioritized unemployment to be dealt with on immediate basis. For this purpose the UN has initiated a program where self-employment will be promoted to cater to unemployment. Startup incubators are being funded to develop on business plans and launch new business to curb unemployment. These initiatives will not only reduce unemployment but will also help new businesses to emerge, contributing towards the tax accounts of the countries.