Is youth entrepreneurship beneficial?

Success. Dreams. Passion. These are three things that drive a person to perform at their best, start businesses, and create an ambition. But is this just for adults? In this new generation, many young teenagers, even at the age of 10, are launching their own businesses and finding their own interests. The best thing is that it does not take a rocket scientist to generate an idea. The important skills that are required are identifying a problem, creating a unique solution, and identifying the market. If these three skills are mastered, then even a 10 year old can have the possibility of becoming a billionaire with their unique ideas.

In the past decade, youth entrepreneurship has been growing and the self-started initiatives have been becoming even more abundant. This is why there are now many incubators, or competitions, that allow these young individuals to create and expand upon their innovations through a mentorship program. The projects created in these programs build both technical and business skills that can be used beyond the project and can help the young entrepreneurs build upon financial, development, and even management skills.

Due to the growing number of youth entrepreneurs, Forbes, an American Business Magazine, started their Forbes 30 under 30 list in 2011, which recognized young entrepreneurs under the age of 30 who created sensational innovations, made some of the best discoveries, or even become successful in a particular industry. It is an annual list that is similar to the Forbes list of billionaires or the Fortune 500. Since its inception, the Forbes 30 under 30 list has accumulated more than 5000 nominations and has editors and researchers searching for the best fit individuals for each industry.

Throughout this past decade, many youth entrepreneurs have been focusing on innovations that can solve problems such as telecommunications, social media, computer technology, etc. Now, this next generation is focusing on artificial intelligence, cancer, healthcare, blockchain, etc. The youth entrepreneurs of tomorrow are creating technology and are diving deep into advanced subject areas to learn more and follow their passion which will take them to success.

Bill Gates of Microsoft. Mark Zuckerberg of Facebook. Evan Spiegel of Snapchat. Sergey Brin of Google. These were all young entrepreneurs who made the Forbes list of billionaires in their mid 20s. A common characteristic between them is that they all followed their passions and expanded on their knowledge to do what they loved. These young entrepreneurs had a vision for the future of their business. It is what brought the next generation of computing and the next generation of media.

So is youth entrepreneurship beneficial? When is the right time to become an entrepreneur? If a person has a passion or a strong urge to research and create what they imagine, they should. Youth entrepreneurship is nothing but taking an idea and bringing it to the market at a very young age. But what many don’t understand is innovation does not have an age. Entrepreneurship does not have an age. Anyone can follow their dream and become an entrepreneur at any age as it can help build skill and creativity while creating inspiration and building an innovation.

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