Youth Entrepreneurship: A Comprehensive Analysis of Trends and Impacts

This report provides a comprehensive overview of youth entrepreneurship, emphasizing its significance in modern economies. It explores the impact of technology and globalization on young entrepreneurs, highlighting the shift towards online business models and the role of blockchain technology. The report addresses the challenges faced by youth entrepreneurs, including unemployment, lack of capital, and competition, while also detailing the opportunities available through government agencies and financial support programs. It further delves into the literature review, emphasizing the importance of patience, commitment, mentorship, and risk management for success. Additionally, the report discusses the challenges youth entrepreneurs face, such as rejection, criticism, and difficulty in acquiring qualified staff, along with strategies to overcome these obstacles. It also stresses the need for adaptability, flexibility, and a positive mindset. Overall, the report underscores the importance of youth entrepreneurship for economic growth and development and provides valuable insights and recommendations for young entrepreneurs, families, and development agencies.

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YOUTH ENTREPRENEURSHIP
Name
Course
University
Date

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Introduction
Youth is the future in all aspects of life. Their participation in development activities and
projects is very significant. The states that have energetic and active youth in investments behold
very high levels of development, and they always have a rapid growth in their businesses. The
vice versa is true that a country that depends on the aging population experience slow rates of
growth and development due to the emerging trends in the business fields. Implementation of
current technology has resulted in high and efficient services in the entrepreneurial industry. It's
evident that older people would not know how to implement the use of machines invented in the
new and improved technology (Green 2013). One thing is for sure that the youthleads to
significant changes and improvements in the business and investment sectors through the
implementation of their talents and skilled labor in the market.
Globalization has turned the world into a small village through the connectivity made in
the era of technological implementation. Even the remote areas get accessed through the
channeling and use of highly managed computers made to keep the world intact and in contact.
Most youths contact their businesses online via the implementation of blockchain technology
whereby everyone has to get connected for them to carry out any business transactions without
much strain and waste of time (MANAGEMENT STUDY GUIDE, n.d.). Most people now buy
and sell online, an aspect that saves producers and consumers the stress of movement and
commotion in the stores in an attempt to acquire products and services. However, some youths
find themselves in entrepreneurship just because they could find a job. It's so evident that almost
the entire world is faced with youth unemployment chaos, which pushes many of them to
investments. Other young people have opted for online jobs for survival, which is not a bad idea.

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Most young people have ventured into various businesses in the perception of self-employment;
little did they know that investing is a real deal for growth and development.
The issue of youths in business has helped the governments in multiple states to solve
unemployment for young people who had become the talk of the day in almost every state.
People do not lack jobs because they don't satisfy the basic requirements but rather because the
market is flooded. Nearly every young person out there own professions in specific fields. The
big question comes in when these professionals cannot implement their skills and talents and do
something beneficial to themselves as individuals and the community in general
(MANAGEMENT STUDY GUIDE, n.d.). Various states have come up with agencies to
promote youth entrepreneurship and help curb the issue of unemployment. In this case, the
agencies found out that young people have very brilliant business ideas but do not have the
capital to put their ideas in action. Such organizations fund the growing entrepreneurs by giving
up star up capitals either in groups or as individuals. The active promotion of youths has resulted
in sustained economies, however small they have proven. The small businesses have also
created employment opportunities for other people who could have stayed idle hence giving back
to the community (Awogbenle and Iwuamadi 2010). The integration of youths in business leads
to overall extensive growth and development of the business industry.
Literature review
Youth entrepreneurship needs patience, courage, and commitment. The emerging trends
in the world today have misled many youths. Young people have indulged to various social
crimes, and therefore, the few that have the will to invest in their lives wisely should also make
an effort to identify the right company of people. The success of a business does not occur
immediately after the startup, and the circle of an investor should have a crew of focused and

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innovative minds. As long as youths want to venture into business, they should put into
consideration of who matters in their circle of friends. Business needs commitment, something
that many young people may not understand (Dzemyda and Raudeli 2014). In the case of a
partnership, young people should seek advice and mentorship from experienced investors in an
attempt to acquire the right information about the requirements for the journey. The youths
should have prior knowledge of how the business world operates and the challenges anticipated
to prepare them psychologically. All investors should have risk management skills because the
entire process would not prove smooth and straightforward. In other words, difficulties must
occur in many ways, and what matters is how the problems get dealt with to avoid future risks
and losses. Youth entrepreneurship is a bridge to solutions for economic growth and
development for young people.
The aspect of youths venturing into entrepreneurial activities needs close attention to
make sure that young people work efficiently and achieve the anticipated objectives. In this case,
teens should learn several things before venturing into any investment to avoid difficulties in the
long run. Youths should involve families and the community in their investment activities. As
long as they may want to keep the balance of having investors around them, the family has its
role to play hence they should have some space on board for the very success of the business in
question. Engagement of the family is a vital aspect and especially for rural youth as they will
always offer you closes support and encouragement in the face of challenges and difficulties
(Pompa 2015). Even though most youths might have invested due to lack of employment
opportunities, they should try as much as they can to learn other aspects and skills of
entrepreneurial activities once they get into the field. No doubt concentrating on the business
alone will yield profits, but then all innovations and investments should look for a way to give

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back to the community that made that who they have become in life. Youths should always look
forward to developing skills and talents that could get implemented in other fields at the end of
the project. Such skills and developments help in encouraging and mentoring other youths,
families, and community business-wise.
Development agencies and programmers should come up with ways to support the youths
financially for startup and expansion of their businesses in case a need for the same arises. As
mentioned earlier in the text, most young people have ideas but lack the capital required to put
them in motion and activity. The groups should also advise the youths on the best lines and
chains of investments to avoid losses and a waste of time and money. Proper planning gets the
issue down in the required manner because access to financial resources differs significantly
from one nation to another and also between different communities (Geldhof, Porter and Weiner
2014). Such plans help out in the continuity of business even in the face and occurrence of
financial struggles. Before the start of any business, youths should involve mentors to go through
their business plans and make an analysis of validity and the set requirements to ensure that they
can yield success and lead to more excellent innovations. The need for a mentor includes getting
the essential information from an experienced person in an attempt to avoid future mistakes.
These guides also help in the assessment of capital needed for a smooth running of the business
and in case of shortages; they can always provide alternatives because to them it's not happening
for the first time (Pompa 2015). For youths to prosper in their entrepreneurial activities, they will
need experienced expertise to see them through the basic requirements for a successful
investment.
Young entrepreneurs should have a ready mindset that creates flexibility for any changes
and switches as required within the continuity of their businesses. In most cases, the young

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generation gets first implication from environmental, political, economic, and social changes,
and hence, they should always have the preparedness to adapt (Pompa2015). Various people find
it a little bit hard to tolerate changes, which in most cases turn out the source of their failure. For
instance, people living in rural areas tend to go through the same types of problems because they
almost depend on the same thing as a source of income in a particular geographical area. Having
someone in the same locality who can adapt changes will show a significant difference because
their lives will go on well despite the slight amendments. Generally, young investors should have
this kind of inspiration regardless of what's happening around their investments. The main aim of
training to live with adaptability is that change is inevitable and the world is always evolving
meaning that changes will occur in the entire life of an entrepreneur. Youth entrepreneurs should
be flexible and get ready for any changes that might arise in their entrepreneurial activities to
ensure continuity of the business at the face of challenges.
Challenges faced by youth entrepreneurs
As young and non-experienced investors, youth entrepreneurs face a lot of problems in
the industry because almost everyone thinks that they would not make it. In several occasions,
the investors face rejection from family members and friends, and they end up feeling ridiculed
because these people could give them adequate support (Phillips 2018). This action lowers their
morale, and hence, their motivation for work goes down, leading to failure. Some family
members question the decision of not working as regular employees who have the guarantee of a
basic salary. In this case, the investors should surround themselves with other people in their
fields of operation to combat the neglect and get connected all over again. In another example,
business people who work for long hours should try to balance between work and social
relationships to enhance a healthy lifestyle. Investors should try as much as they can to support

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their families and friends in spite of their tight and busy schedules. Criticism is another major
challenge facing youth entrepreneurs as most people do not believe in their skills, talents, and
potential to work and impact change. In most cases, people evaluate their work and come up with
a null idea of a better performance while they don't know what went down behind the
achievement. Criticism comes from jealous people probably envious of other people's success.
Youth entrepreneurs should take the mockery as a source of motivation and work hard towards
success and achievement of the investment goals.
Small business units face the challenge of acquiring and hiring qualified staff. The main
problem occurs during identification of the skilled labor force required by the investment for
success. For instance, a company located in rural areas finds it to acquire adequate employees
because most people might find it better working in urban centers for better and improved
experiences. In this case, the young investors based in remote areas find it hard to get the skilled
labor required for their operations. In emerging trends, some people have opted to work away
from the office at their comfortability. The long-distance employer-employee relationship saves
the business stress of utilities and space in the office. Young employees can consider the latter as
it will help them save money, which could go to the expense of renting space. Everyone, whether
young or old, would feel happy if they own a business a fact that explains how the young
entrepreneurs feel after starting up their first business units. The same happiness experienced
might come with some sought of anxiety and stress as one may start doubting themselves
(Phillips2018). At first, it would get understood that someone might have some financial battles
due to low incomes leading to unsettled bills at the end of the long run. Many people tend to
think of giving up when faced with challenges and stressful situations, but that's not the way.
Entrepreneurs can deal with self-doubt and fear by reviewing their set objectives and mission at

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the start of the business. The review will give young investors motivation and energy to work
harder and overcome their fears through success and achievements.
Rationale
The main aim of starting a business is to earn profits and in that case, for any firm to gain
success and achieve the maximum benefits, then it has to make sales of the commodities and
services produced. Occasionally, small businesses face the challenge of getting and maintaining
loyal customers (Phillips, 2018). The main reason behind the stress is that most consumers would
want to purchase from well-established organizations believing that quality might go hand in
hand with size and dominance whereas the established companies give commodities at very high
and unaffordable prices. The small and new business should take that advantage and produce
high-quality brandy commodities. The sufficient goods produced should then go at a fair price to
attract buyers. The life of an entrepreneur should get based on the satisfaction and happiness of
the customers regardless of the existing challenges. Age is just a number and should not make
anyone feel demoralized to the extent of stopping what they had planned to do. Young people
should work towards their plans and goals to achieve their desired success in spite of the
challenges coming their way.
Youth entrepreneurship is a factor that has grown due to several factors impacting change
in the lives of young and unemployed people. The economy of most developing countries is
mostly unstable, resulting from breaking down of large and established businesses
(MANAGEMENT STUDY GUIDE, n.d.). The market gaps created due to the failures occurring
in the market give room for small and young investors to venture into small business units.
Political stability leads to the growth of small businesses because the investors have an assurance
of security and protection of their companies from the government. Friendly policy frameworks

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encourage youths to enter into entrepreneurial activities because the structures provide
everything required for small business startups, including financial solutions for that lacking
capital to implement their business ideas. Some education systems help in equipping learners
with leadership skills meaning that they can think outside the box of seeking jobs in case
unemployment prevails (Hulsink and Koek2014). This perspective helps many young and
learned people to have options of surviving because getting regular employment is not the only
key to success but just one of the ways. Young professionals should have a wide range of ideas
to approach difficulties and challenges if the plan of getting a job straight after college does not
work as per the expectation.
Conclusion
Youths should take advantage of the natural resources around them to start and run
entrepreneurial activities. Although the process of setting a business, running its operations and
maintaining a good position in the market in terms of the competition is not easy, the success
gained at the end of the long run is worth the struggle. In this case, young people should consider
doing something valuable for their lives and the future of the community and the nation in
general because they have the potential, energy, and skills to promote economic growth to higher
levels. The point of complaining about unemployment issues may not make sense anymore
because opportunities for investment exist for everyone without bias, including young people.
Summary
The young and growing population should work hard because they have the future bright
of the coming generations in their hands. Youths can come up with groups in which they could
get financial aid from the government and non-governmental organizations to venture into

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business opportunities. Although as new growing entrepreneurs, they may face various
challenges, young people should never think of giving up as an option. Every activity and
investment requires patience, as the growth process might be hard and tough. If the youths look
at how far they have come and considered their dreams and aspirations as young entrepreneurs,
the problem of stress and worries about an incidence of failure will never get into any of their
topics of discussions. Young people should have a focus to achieve their plans and objectives
through succeeding in entrepreneurial activities.

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References
Awogbenle, A.C., and Iwuamadi, K.C., 2010. Youth unemployment: Entrepreneurship
development program as an intervention mechanism. African Journal of Business
Management, 4(6), pp.831-835.
Dzemyda, I. and RaudeliÅ, J., 2014. Sustainable youth entrepreneurship in conditions of the
global economy toward energy security. Entrepreneurship and Sustainability Issues, 1(4),
pp.247-256.
Geldhof, G.J., Porter, T., Weiner, M.B., Malin, H., Bronk, K.C., Agans, J.P., Mueller, M.,
Damon, W. and Lerner, R.M., 2014. Fostering youth entrepreneurship: Preliminary findings
from the young entrepreneurs' study. Journal of research on adolescence, 24(3), pp.431-446.
Green, F., 2013. Youth entrepreneurship. Background paper for the OECD Centre for
Entrepreneurship, SMEs and Local Development Paris, www. OECD.
org/cafe/leed/youth_bp_finalt. pdf.
Hulsink, W., & Koek, D., 2014. The young, the fast and the furious: a study about the triggers
and impediments of youth entrepreneurship. International Journal of Entrepreneurship and
Innovation Management, 18(2-3), 182-209.
MANAGEMENT STUDY GUIDE. (n.d.). Youth Entrepreneurship - An Overview. Retrieved
from https://www.managementstudyguide.com/youth-entrepreneurship.htm
MANAGEMENT STUDY GUIDE. (n.d.). Youth Entrepreneurship - An Overview. Retrieved
from https://www.managementstudyguide.com/youth-entrepreneurship.htm
Phillips, J., (2018, April 4). Top Challenges You'll Face as a Young Entrepreneur. Retrieved
from https://www.paymill.com/en/blog/challenges-for-young-entrepreneur/

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Pompa, C., (2015, December 11). Five ways to strengthen youth entrepreneurship. Retrieved
from https://www.odi.org/blogs/10191-five-ways-strengthen-youth-entrepreneurship.