What are the Pitfalls of Young Entrepreneurs?
Gen Z is flocking toward entrepreneurship at a markedly higher rate than Millennials did, but why? The debt to stagnating wages cycle hasn’t worked out super well for Millennials and Gen Z has taken notice. They don’t want anything to do with that and they are getting creative about how to pay for college, which often means looking toward entrepreneurship from a very young age. Thanks to the Internet there are more options than ever for young people to become entrepreneurs, and starting small is often the best way to learn the ropes anyway.
Unfortunately there are many roadblocks in front of young entrepreneurs that they will need help overcoming. The most widespread and pervasive of these is good old fashioned age discrimination — the notion that young people are lazy and entitled. This leads to difficulties when someone doesn’t want to do business on the grounds the young person might not be serious. There are also legal barriers for things like loans and credit cards, and then places like rental car agencies and hotels that are necessary for conferences and business travel have even more age restrictions.
Learn more about the pitfalls of young entrepreneurs and how to overcome them from this infographic.