In the last decade, the number of teenage entrepreneurs has grown significantly. Research from Junior Achievement and Ernst & Young LLP (EY) shows that 41 percent of teens would consider entrepreneurship as a career option, versus working in a traditional job.
Teen entrepreneurs face both unique advantages and barriers when it comes to launching their startup. The benefits of having family support and minimal existing financial obligations or responsibilities are a few examples of being in a more advantageous position. On the flip side, however, can be a lack of experience, maturity, or barriers to funding and resources.
Regardless, the world has recognized many teen entrepreneurs and with that, new programs, resources, and funding options have been introduced to help provide teens with the support they need to become successful business owners.
Read on to learn more about some of the unique opportunities available for teen entrepreneurs as well as some important considerations for those ready to take the steps towards entrepreneurship.
Teen entrepreneurs are growing in number. The Global Entrepreneurship Monitor says that the average age of a typical entrepreneur is between 25 and 45, but that more and more people are starting businesses at a younger age. This has given rise to an increase in the number of teen entrepreneurs around the globe.
Teenage entrepreneurs are cropping up fast these days. Today’s teens are bright and full of great ideas that they are sure will make a huge impact. That is important because teens are starting their own businesses not just to make money, but to change lives and make the world a better place to live.
Important Industry Happenings
- Top 10 Advantages Teen Entrepreneurs Have While Commencing a Business (via Entrepreneur)
- The 50 Youngest Kid Entrepreneurs in the US (via Business.org)
- Number of Teenagers Starting Businesses up Eightfold Since 2009 (via The Guardian)