Join the Futuremakers Forum 2022

How can we, together, put young people into the driving seat and create the financial systems they need to achieve success?

Nearly 1 in 4 young female entrepreneurs say they don’t control their own money; 75% of young people with business bank accounts say they assumed they weren’t eligible for any further financial products and services; and 62% of young people say they don’t know enough about financial products and services to use them.

These are just three of the findings from our recent research with 1,270 young people across 21 low- and middle-income markets. 

The invitation:

I would like to invite you to join me, young participants and critical financial system stakeholders from around the world to examine what these statistics really mean for the future of young people. And together, form solutions to help young people achieve their potential – to lift participation through financial inclusion.

Join us virtually between 6 July to 7 July for the Futuremakers Forum.

During the Forum, expect a ring-side seat at the interview between young participants and Standard Chartered Bank CEO Bill Winters; micro-pitches by young female entrepreneurs; advice on financial health and building resilience; opportunities to connect with decision makers; and a live hackathon to co-create new financial products and services that could make a real difference. 

Together we will spotlight new ideas that make financial systems work for young people, provide opportunities to learn about new inclusive finance research, and co-create solutions to narrow the gap in financial services.

The significance:

With economies tightening due to inflation, the need to make our finances work hard is more important than ever. Young people’s livelihoods in lower-income communities have been especially impacted in the past few years. Globally, youth employment fell by 8.7 per cent in 2020 compared with 3.7 per cent for adults, with young women being disproportionately affected (ILO, 2021).  At the same time, young workers aged 15-24 are almost twice as likely to be experiencing in-work poverty as workers aged over 25 (ILO, 2019). 

There is an urgent need for all sectors to offer substantial support to help young people achieve their ambitions. Financial services, multinational organisations, the public and private sector are all instrumental in enabling young people to fulfil their aspirations, to work and benefit their societies.

 To date, more young people in lower income communities have been excluded from financial services. This disproportionately includes young people who are poor, female and live in more rural areas. It is important when extending services to consider the specific needs of marginalised groups, and how to protect them from the risks of high interest rates and debt. 

Our solution: 

Futuremakers by Standard Chartered is our global initiative to tackle inequality by promoting greater economic inclusion in our markets. Futuremakers supports young people from low-income communities, especially girls and people with visual impairments, to learn new skills and improve their chances of getting a job or starting their own business. 

Young Futuremaker participants, their supporters and partners will join together during the Futuremakers Forum. And we want to welcome you too. We know that only by working together can we forge real, lasting solutions.

Greater financial inclusion for young people in lower-income communities could offer pathways to individual- and national-level development. The Futuremakers Forum will look at the barriers to young people’s financial inclusion as well as what lies beyond them, identifying ways to redesign financial services to better meet young people’s needs.

 So I would like to encourage you to register and join us at the Futuremakers Forum, to invite those around you who could also benefit and to challenge you to bring your ideas so that we can, together, co-create solutions to inclusive finance that work for young people.