Why do more and more younger people start running businesses?

Question

I have my hypothesis but I want to know your 2 cents. 🪙🪙

More and more people around me (maybe at the age of 17 or so) are trying to run businesses. I find them more ambitious compared to my age group or elderly age group.

Why is it so?

Here are my assumptions:
– previous generations were more oriented on family,
– this is the era of hustle, financial freedom (quitting the corp world),
– is it a kind of Flynn effect of awareness & intelligence?

Lemme know your POVs.

AuroraW · Accepted Answer

I think that's because they value independence and flexibility in their careers. They want to create something meaningful on their own terms, rather than following traditional career paths.

YanXu · Answer

It could also be a case of survivorship bias; what you see are just young people who have just started their entrepreneurial journey and have not yet experienced failure and trials.

Answer

I think theres lower barrier to entry now compared to before especially with so many tools available on the internet to start your business with, plus social media is also so powerful in creating this mindset for people.

Christopher David Anderson · Answer

Definitely, the internet and social media have made it way easier for younger people to start businesses nowadays compared to before. So many tools and resources available online to get a business up and running quickly. Plus, seeing other young entrepreneurs crushing it on social media is super motivating and makes it seem more achievable. Lower barriers to entry across the board for sure!

Andres Rosas Sanchez · Answer

I believe that the great wave of entrepreneurs is due to the changing times we are experiencing.

There is already enough technological and social evidence to affirm that the world is changing, and we, as young people, are the ones who must and are taking the initiative to shape the new world that is emerging.

Udaya Sri · Answer

I think this generation is pretty competitive. Plus, working a 9-5 job is often seen as dull and ordinary, and nobody wants to be just ordinary.

Business Marketing with Nika · Answer

@hamza_afzal_butt @kamjin it is a kind of approach of certain people, some of them still cherish what they have learned. The situation changes and you can find helpful your knowledge maybe 20 or 30 years later because you will find out that "ah, I know this.. that learning from 5th grade I can use right now) :D

Business Marketing with Nika · Answer

@udaya_sri the last generation cherishes more adventurous things + explores or comes up with something new. I am amazed at how fast (and the yearly age) they want to achieve something.

YanXu · Answer

@udaya_sri Yes, most office work is quite monotonous. This generation, because of their exposure to more knowledge, wants to make a difference for themselves.

Natalia Toth · Answer

@udaya_sri they see working a 9-5 job as dull and ordinary, so they opt for working 24x7 with their own business LOL. Sorry for this comment, I just feel that owning a business means literally working round the clock.

Nathan Covey · Answer

I think it's because of the accessibility of information and social media. There are so many people out there talking about their successes and then also offering education that it attracts more people.

Jack Lipsky · Answer

I think a lot of younger people have realized they don't need to take the traditional "long route" of building themselves out for years until they hit an age where they're "ready" to start a business. Not everyone needs to climb the ladder to get to their end point.

For many people, college is no longer a necessity - if you're already working in the industry you want to be in, why go to four years of school if you can already keep building your professional experience? Why put off getting a job or starting a business if you already have the ability to succeed? I think a lot of the younger generations have accepted and embraced expediting their professional career by just jumping into ventures, rather than waiting.

Zane Ryan · Answer

@busmark_w_nika 
Is it possible that you were the most relaxed and happy when you were a kid? I feel like childhood was simpler, but now everything is so complicated. I want to get back to a simpler way of living

kamjin · Answer

@hamza_afzal_butt @busmark_w_nika As we age, we may find that we don't have as much energy as we once did. The experiences that were once valuable to us have gradually lost their significance in the face of an ever-increasing volume of resources. Competition is fierce, and it’s harder to find an edge. However, the lessons we've learned are far more diverse than those of younger people. I believe this diversity of experience is worth exploring.

Jack Lipsky · Answer

@busmark_w_nika Oh of course! There are many, many professions that require formal education and training! I was thinking in terms of the ever-expanding tech/digital media space there are a lot of successful, autodidactic entrepreneurs.

I can absolutely agree, I would never want to go doctor who picked up his knowledge from Youtube!!

Why do more and more younger people start running businesses?

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