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Benefits of being a young entrepreneur

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Article by Materahub – Photo credits Photo by Priscilla Du Preez on Unsplash

Entrepreneurship is a great opportunity for young people looking for a job and a new challenge. There are several benefits of being a young entrepreneur, of the biggest advantages is to learn important and valuable skills, both useful at work and in life, such as teamworking, networking, problem solving, critical thinking, creativity, communication and more.

Youth entrepreneurship provides employment prospects to youth, with or without experience, it has a huge impact on the economic growth increasing job opportunities, innovation and competition, also it generates a social impact while boosting local and sometimes disadvantaged communities, creating social and economic change and accelerate sustainable growth.

Another important factor is that young people who set up a new business can be seen as role models from their peers, a source of inspiration for the others, an example of willingness to turn good ideas into reality and how these can become successful.

Here are five reasons to find a motivation and become an entrepreneur:

1. Expanding Your Network

Being an entrepreneur can help you to interact with different people and new environments every day and have the opportunity to network with a large community of motived people, and develop communication skills while building a network of contacts.

2. Risk-Taking

Being a young entrepreneur teaches you how to take calculated risks, and helps develop confidence while overcoming the crippling fear of failure which will ultimately pay-off in the future.

3. Flexibility and Freedom

By becoming an entrepreneur at a young age, you quickly learn to be independent and self-reliant. Entrepreneurs have full control of their schedule and business, they are their own boss. There is an opportunity to expand your skill set by experiencing and performing the varied roles in a start-up. Self-directed learning is another positive side-effect.

4. Making a Difference

Entrepreneurs give back to society because their product or service could provide the community a solution to a specific, existing problem such as creating an environmentally-conscious product.

5. Accessible and Available Support

There are many organizations that support entrepreneurs and their start-ups, to get funding or providing some mentoring program which can guide the young entrepreneur to acquire new transferable skills.
In this moment of the pandemic crisis, many people lost their jobs and the risk to get excluded from the labor market is spreading among youth, the difficulties for employment increased and the learning opportunities can be not accessible for all, the economy is uncertain, therefore, the entrepreneurship can represent a concrete solution in our society and a real tool for a more secure future for young people.

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