Young Entrepreneurs Defy Economic Downturn June 12, 2009
Entrepreneurs – in the past, stories of young entrepreneurs would make headlines simply because it was so unusual to see school leavers go into business for themselves rather than joining an already established company. Of course, in today’s business environment some graduates have little choice in the matter, and rather than becoming gainfully employed, their choices are either starting up their own businesses or joining the unemployment queue with so many others.
When the going gets tough, young entrepreneurs get innovative
A recent BBC News article provided a tough reality check for young people ready to leave school or university: it was revealed that only about one in five companies would be looking to employ school leavers this year. Adding insult to injury, a third of businesses have made graduate employees redundant this year alone, and almost half of employers asked said that they were not looking to take on any new employees from either of these groups in 2009. It is uncertain what this group’s employment future will be, but it doesn’t look good from here.
The lack of life experience and work skills put this age group at a heightened risk of entering unemployment virtually immediately after leaving education. Of course, there are some brave individuals who don’t let little things like the economic downturn and recession-enforced job losses hold them back. Young entrepreneurs are starting up businesses, and find themselves capitalising on book knowledge, classroom experiences, and buckets of enthusiasm and drive to get their entrepreneurial dreams off the ground.
Young entrepreneurs have the advantage
It makes sense that business-savvy young entrepreneurs have better odds at succeeding in today’s competitive environment than their classmates who are content with simply sending out copious letters to potential employers. While still sometimes looking for work with an established company, these young entrepreneurs also set up a business, craft an Internet presence, and incorporate all of the laws of business they learned about online, in the classroom, or from the papers.
If the new business is profitable, the young entrepreneur has the fiscal success that would have otherwise eluded him or her in the traditional workforce. On the flipside, even if the business fails to yield a sufficient income, the experience is extremely valuable. What is more, when properly incorporated into a CV, youthful entrepreneurship has the power to open doors that have thus far remained shut in the faces of graduates and recent school leavers.
After all, even if a company is hesitant to add a younger worker to the payroll, a young entrepreneur with a track record of at least trying to carve out their niche in the economy is looked upon more favourably than one who has been content with just waiting it out. The notation of an attempted business venture on the CV may even have the power to offer quicker upward mobility within a company than might otherwise have been possible for a young worker.
Is it not time that you took a chance and made the most of the skills you already have? You are never too young to get started as an entrepreneur, and the potential of turning your hobbies or passions into a lucrative business venture beats sitting on your hands any day. Who knows, a few years down the line you might actually be the one who gives jobs to your former classmates! Is this alone not worth the plunge into entrepreneurial enterprise?
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