In the age of digital advancement, the youth seem to be more exposed to opportunities and challenges at a younger rate than the previous generations. One recent trend in the business world would be the emergence of ‘millennipreneurs’ – a term coined for the new generation of entrepreneurs under 35 years old.
Businesspeople who fall under this age bracket are interested in the new economy, particularly thriving in retail, e-commerce, social media, and technology, to name a few.
If this teaches us anything, it would be that the world is ever-evolving. And in a fast-paced sector such as business, the youth is adapting more quickly than the rest of the world. This goes to show that everyone, regardless of age and experience, can thrive in business, if given the proper avenues and encouragement.
So, why is youth entrepreneurship important?
Youth entrepreneurship is a good training ground for a business career path.
When students express interest in starting a business, they not only think of it as a substitute to employment, but also an eventual career goal to be pursued whether before, during, or after their collegiate years. While these young minds decide on their respective tracks, being a young entrepreneur enables them to explore what lies down the road while still at the convenience of being in school.
Being a young entrepreneur promotes independence.
Many people are limited by certain underprivileges, such as their economic situation and educational attainment. If we were to be realistic, this limits opportunities for them, especially when making decisions. Through entrepreneurship, young people are empowered to be independent and are given a means to successfully navigate in today’s competitive global market. Organizations such as the International Youth Foundation have been partnering with different sectors around the world in providing entrepreneurial prospects in parts of the world where business ownership for interest youth prove to be a struggle.
Giving the spotlight to youth business leaders can be inspiring to people their age, as well as those eager to start their own business.
When we think of success stories in business, of course we think of the bigshot pioneers: Bill Gates and Steve Jobs are among the most popular sources for entrepreneurial inspiration. And what do these technological business magnates have in common? They were all college dropouts.
While we do not encourage leaving school just to start an entrepreneurship journey, their success stories have the power to inspire. In an interview, Facebook CEO Mark Zuckerberg has revealed that learning about Gates influenced him to start the social media platform while he was still in Harvard.
If Zuckerberg himself was called to action after seeing someone he can relate to succeed, imagine what seeing young successful entrepreneurs could do for a diverse generation of aspirational youth. Better yet, imagine seeing teenage women CEOs or people of color. Relation and representation makes all the difference.
They say the future of the world lies within the youth. Through encouraging youth entrepreneurship, we are opening more spaces for learning and development. Sharad Vivek Sagar understood it best when he said: “We cannot afford to let the ideas of our young generation go untapped or unbacked.”
If you’re looking for more signs to start your business journey or support one underway, read up on these stories that highlight its importance!