Whether it is running a lemonade stand or establishing an online business, young entrepreneurs are making their mark in the world of entrepreneurship. They are generating ideas that can make a difference in society, tackling pertinent global issues and delivering solutions – even when they’re still kids!
Youth start-ups offer unique advantages over adult businesses. For one, they have an abundance of energy and enthusiasm to tackle any challenge. They’re also often more creative and can think outside the box, leading to new innovations that can transform an entire industry.
Additionally, a young person’s start-up can be easily scaled. This allows a new company to expand and grow at an exponential rate, with the added bonus of boosting revenue. This type of growth is especially helpful for entrepreneurs in emerging economies that need to support a growing population, which may otherwise struggle with unemployment and financial instability.
One such example is the COVID-19 pandemic, when many small businesses and startup enterprises emerged to help support a struggling economy. For example, SEPAK, a Cambodian youth-led digital E-commerce platform, branched out to create handmade masks to boost their sales and provide additional jobs during the pandemic. They are now a multi-million dollar company that has transformed the lives of millions of individuals.
In fact, it is estimated that over 600 million jobs will need to be created by 2022 to reduce poverty levels across the globe. Many of these jobs will need to be generated by entrepreneurship – especially in developing countries with high youth unemployment rates.프랜차이즈창업
However, some youth are unable to identify or exploit their business opportunities (Hitt and Reed, 2000). Various studies have been conducted to understand the barriers that are preventing youth from achieving their entrepreneurial goals.
Thankfully, with the advent of technology, a variety of tools have become available to help teens succeed in their startup endeavors. 청년창업 For example, online marketplaces like Shopify and a host of print-on-demand apps allow teens to easily build a store and sell products. In addition, the AZYouthforce program offered by Boys & Girls Clubs of the Valley offers resources and mentorship to help teens get their business off the ground.
Furthermore, social media platforms are another useful tool that can be used to market a business. This can include Instagram, Facebook and other popular platforms. Finally, crowdfunding is a great option for teens who want to obtain monetary aid in order to launch their venture. This method of funding can be done through sites such as Kickstarter and Indiegogo, where the public can directly fund projects that they believe in. This enables young people to gain initial customer leads and promote their business on a large scale. In doing so, it provides a safe and risk-free way to begin their journey as entrepreneurs.