Entrepreneurship Archives - The Entrepreneurial CPA https://entrecpa.com/category/uncategorized/ My WordPress Blog Tue, 22 Oct 2024 18:02:35 +0000 en-US hourly 1 https://wordpress.org/?v=6.7 230056674 The Young Entrepreneurial Movement https://entrecpa.com/2024/09/20/the-young-entrepreneurial-movement/ https://entrecpa.com/2024/09/20/the-young-entrepreneurial-movement/#respond Fri, 20 Sep 2024 21:35:11 +0000 https://entrecpa.com/?p=6121 Why the young entrepreneurial movement must occur. The rational is simply put that our youth unemployment will grow for years […]

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The Young Entrepreneurial Movement shows five energetic young entrepreneurs ready to spread their wings.

The Young Entrepreneurial Movement

Picture of John Smyk, CPA, MBA

John Smyk, CPA, MBA

Entrepreneurial Contributor

Why the young entrepreneurial movement must occur. The rational is simply put that our youth unemployment will grow for years to come. An uneasy feeling for me, as I look back to when I had graduated college. What happened? Since, the 1980’s we’ve experienced the multitude of mergers and acquisition that has reduced the potential career opportunities for many young people leaving school into large corporations today. The depth of offshoring many jobs to other parts of the world is making it almost impossible to compete for what jobs are available.

One way to combat these departures of employment opportunities has been the creation of a parallel economy. What is the parallel economy you may be asking? Well, the parallel economy has created a more cohesive community of companies serving the best interest of objective business models to consumers. The freshness of this approach has led to numerous new innovations through technologies, while, building the local economies by creating both jobs and wealth.

A New Entrepreneurial Frontier

As a result, these significant challenges facing many young people is giving an avenue for them to enter that will give them hope. This opportunity will take young entrepreneurs into the world of entrepreneurship to build their future by competing in the new digital economy. Young entrepreneurs have the distinctive advantage of growing up with the benefits of technology giving them many more options for work anywhere in the world.

Building one’s legacy comes with many sacrifices, especially when your mind is set to take charge with your career. Time, effort, sweat equity and all the qualities that derive character can very well line up with success. The new entrepreneurial frontier will create a pool of leading-edge innovation to inspire more entry level entrepreneurs to participate. Anyone can be an entrepreneur, if they’re focused in continually learning to refine their mission. 

Why Become A Young Entrepreneur?

The benefits will always outweigh the negatives in any which way you can assess this. Our younger generations have a much different prospective than ever before to not follow the traditional norms in business. For example, here are some attributes listed to inspire into entrepreneurship,

  • much greater independence to work freely in attaining their goals
  • not as fearful with mobility to work anywhere their mission takes them
  • the most technologically knowledgeable generations to unlock the tools available in the market 
  • more apt to build a digital e-commerce website than a traditional brick and mortar format
  • ability to build a diverse marketing identity to promote their work
  • a work/life balance is much more desirable and achievable
  • potentially greater job security
  • tend to be more socially conscience to the community

Becoming a young entrepreneur allows for defining every aspect of your life that may go unfulfilled in the pursuit of a traditional employment career. Always consider that you won’t be alone in an eco-system that generates new norms. This is the new youth entrepreneurial movement never seen before.

Some Fun Facts

It’s time to look at who these young entrepreneurs are according to Gen Zs in Forbes with their thinking. 

  •  72% believe times have been economically tougher on them, but 39% are not stopping from wanting to start another business
  • 39% employ five or more employees creating an economic benefit
  • 46% want lower taxes, 42% want affordable housing, 35% believe in benefits of universal basic income
  • 45% using their own savings to get their business started
  • 80% launched their business online or with a mobile component, while 46% began with a physical location

The Verdict

Finally, there exists no better time than the present to start your career by becoming a young entrepreneur. You’ll gain great direct business experience, life learning skills, developing your leadership and negotiation ability, while gaining resilience. Don’t be afraid to ask for a mentor to assist you to reduce the risk of poor decision-making. The key is to learn as much as possible to drive your ambition for a life long mission of success. Wishing all great rewards in the pursuit of The Young Entrepreneurial Movement. 

John Smyk is Founder of The Entrepreneurial CPA helping entrepreneurs, solopreneurs, small-large business. Contact us for a free consultation Let’s Go To Grow!

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