What Is a Young Entrepreneur?
A young entrepreneur is a child or young adult who assumes risks to start and operate a business or who finds new ways to do business better. They are the type of person who identifies and pursues opportunities without allowing risks to become barriers.
How Do You Become a Young Entrepreneur?
If you are a child or young adult, think about what opportunities exist that have not been exploited, and consider the value it could bring if you pursued it. You could also think of how you can repurpose what already exists. Develop a plan, stating the opportunity, your answer to the opportunity, and your plans to execute. Assemble resources, such as money, labor, and supplies, or seek help from an adult who can gather these resources for you. Don't be afraid to ask for help or to learn from others who have been successful at entrepreneurship. Most of all, don't be afraid of failure. Use it as a learning lesson and continue toward your mission.
Who Are Some of Today’s Most Successful Young Entrepreneurs?
Possibly one of the most famous and accomplished young entrepreneurs is Mark Zuckerberg, who at 19 co-founded Facebook (now Meta). Also topping the charts is Dustin Moskovitz, co-founder of Facebook; and Evan Spiegel and Bobby Murphy, co-founders of Snapchat. Not all young entrepreneurs will reach Facebook or Snapchat status, but success is achieved nonetheless. Other notable successful young entrepreneurs include those we highlighted: Fraser Doherty, Ashley Qualls, and others.
Can a 12-Year-Old Own a Business?
There is no age limit on being an entrepreneur; so, a 12-year can become one. However, there is an age requirement for forming a legal business entity in the United States. Due to contract law, a person must be at least 18 years of age to form a legal business. Fortunately, parents and guardians can file on behalf of minor children.
Who Is the Youngest Major Company Owner?
At age 15, Hillary Yip is the youngest CEO in the world.17 She founded and runs MinorMynas, an online education platform for children. She began her journey into entrepreneurship at age 10, dabbling in the tech sector, and now sits at the table with some of the world's most renowned tech geniuses.
The Bottom Line
It's evident from these young people's stories that entrepreneurship is not a one-size-fits-all endeavor. It involves believing in the potential of ideas and pursuing them past ideation and concept development. These young entrepreneurs, inspired by family, academics, social trends, and events, have one thing in common: they found an opportunity and seized it. And that is the spirit of entrepreneurship.
You must be logged in to post a comment.