What will the future look like in this post-near-financial-meltdown world? One thing is for certain. There will be lots of young entrepreneurs.
According to an Inc. post The 7 Best Times to Start a Company:
Reason 1 for starting a company: Youth
Young people have the time, energy, ignorance, and innocence it takes to go after starting a business. We don’t have a lot of responsibilities. We do have a lot of energy, passion, and drive. However, one thing that works against us is the pressure that many of us feel to succeed. Many students have lots of debt coming out of college. They get focused on that number they have to payoff to get above water. Yes, Start-ups are risky. Most will fail. All who try will learn more than their counterparts who chose the safe route.
Reason Number 2: You’re miserable at work.
The number of underemployed in this country has soared thanks to the economic downturn. A college degree doesn’t get you too far anymore. “Everyone” has them. If you are an ambitious college grad, the last place you want to be stuck is at the bottom of a corporate ladder or working part-time in a restaurant. Unfortunately, that is where many of us find ourselves. Start-ups give you the opportunity to take on new challenges, learn new roles, and, if you’re lucky, make some money.
Reason Number 3: You’re out of work
Need I say more?
More and more universities are pumping money into developing their entrepreneurship initiatives. Business plan competitions and entrepreneurship coursework that was once found at Ivy League Schools are now making their way to public and private colleges alike. Schools are making entrepreneurship a priority, and hopefully these initiatives will get more grads employed.
David Miller, a PhD Candidate at George Mason University, is focusing his research on the role of colleges and universities as hubs of entrepreneurial activity. You can check out his Campus Entrepreneurship Blog.
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