ENTREPRENEURS GATHER!Are young entrepreneurs on the rise? The world is in economic turmoil making it exceedingly more difficult for young entrepreneurs to gain the initiative and strength to make it through the tough times involved with starting your own business. No, in fact people under the age of 35 that want to start businesses are at a lower rate.
A young entrepreneur, said to be a person who can organize, manage, and take on the risks involved in the business world, has to be able to cope with financial upsets. This being said, financial struggles of the global economy prohibits many of the older generation from affording the investments needed to start up a good financial plan. The business world places financial responsibility on the shoulders of young adults that do not carry as much financial responsibility, the question then being are they ready for it?
With the increase in the youth population from the age of 25 and younger, many would believe that there would be an accumulation in the number of people from the younger generation in the business field. Regrettably that is not the case. People aged 15 to 25, currently, either seek work or have given up the job search in its entirety.
Most adolescents are driven to engage in the business world not out of enjoyment but out of the necessity to provide for ones family. According to the Global Entrepreneur Monitor assessment or, (GEM), any activity in the U.S. entrepreneurial field has fallen significantly from 10.6% in 2005 to 6.9% in 2009, affirming that more people are less inclined to start up a business rather then keep one. Business ventures, more then 42 months in operation, have a higher survival rate because of this rapid decline.
Moreover colleges are recognizing this decrease all over the world and have set in place a number of programs to support/encourage students with an entrepreneur mind set, hoping to reverse the decline of start up ventures and increase the successability. For example the HSBC Young Entrepreneur Awards in Thailand, first launched in 2004, proposes a business plan competition, where local undergraduates can demonstrate their entrepreneurial skills.
Another example being the Young Entrepreneurs Program, or Y.E.P., which includes business-training programs directed toward young people of ages 14-27. Their ultimate goal is to have young people become more interested in self-employment as a career option.
The Young Entrepreneurs Association (Y.E.A) works closely with the Kelley School or Business in Indiana in order to achieve what is necessary for undergraduates to organize goals and achievements in order to make it in the entrepreneurial career.
This being said, if all of this effort is being put into trying to engage more students in setting off in the entrepreneurial world then why is there the decrease?
Some say, the rapidly increasing high world population is to blame. In order to secure the right investments in health, education, entrepreneurship, and agriculture to support our worldly population you would need certain amounts of educational opportunities along with a good economy that includes healthy labor markets. The current situation of many countries now does not fit the requirements of healthy labor markets backed by a good economy, resulting in the unemployment records of many of the young generation.
Many hope that this decline will not last and that social entrepreneurship has made it through its toughest part. While some statistics do not back this claim, it does not dissuade people from hoping and believing that the world will not continue to decline.
By Megan Lewis
Writer for Young entrepreneur ninja
Make your financial decision at MyFinancialDecision.com
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