Young Guns

The Salt Lake Tribune just came out with an article on the growing trend of young people becoming entrepreneurs. With the down turn of the job economy in the past couple of years, graduating students have been searching for jobs in vain. Some are getting creative, however, and becoming successful on their own! Hell yeah!

It is difficult to estimate exactly how many young business owners there actually are because the Federal Small Business Administration does not keep statistics by age, but there are many signs of growth.

The Virginia-based Young Entrepreneurs' Organization, a group founded in 1987 that requires $1 million in annual sales before it will admit a business owner, now counts 95 U.S. members younger than 30 in its ranks. And a first-time survey done this year by the National Association for the Self-Employed found that about 15 percent of its members are in their 20s or early 30s. Also, small business consultants are finding that more and more young people are seeking advice.

This news can be great, or detrimental, for us all! Some people really like the idea of flexibility and being our own bosses, and some of us would rather not deal with the stresses of being in charge. I thought this article was very interesting, because this will be an issue that we will all be facing this year or next!


Bryce Larkin said...

I think this is a great article because it shows that younger people can make a business work and make a large profit doing it. I don't think this discourages other students it should encourage them to use their skills and make something of themselves.

Maudi said...

Being your own boss is a great thing. However in an up and coming generation like this one there is only one problem. The work ethic today is much different than that of yesterday. Many kids today are after the easy money but, the problem with the easy money is that they usually have to work in the somewhat gray area in order to get it. Entrpreneurship is all about being smart and working (HARD). I hope that we can all follow in the footsteps of those who have done it right and worked hard to get their money.

Kova said...

Yeah for our generation!!! I think it is great that people are starting their own businesses at even younger ages. We, as business students, are going to school to learn the ins and outs of running a business so it makes sense that so many people would decide to do it for themselves. Also, I think our generation has a lot of great ideas that can be turned into great businesses!

Dr. Tufte said...

I'm dubious about this "trend". I think it's fine, but I'd really like to see some more concrete evidence that a change is afoot.