Increasing numbers of young entrepreneurs are starting their own businesses after graduating or leaving college.
Instead of automatically looking for employment immediately after college, they’re weighing their options and considering entrepreneurship.
Millions of recent graduates are having a tough time finding employment.
Although the unemployment rate have declined for graduates with a bachelor’s degree or higher, many new grads are still struggling to find a good, full-time job. Many are unemployed, underemployed or working in a low-paying job.
What makes matters worse is that new graduates and dropouts are often leaving college with crippling levels of student loans and debt.
They need some other way of creating income. Instead of waiting around for their dream jobs to open up, many new grads are choosing to start their careers as entrepreneurs.
The big advantage for young entrepreneurs today is that there is a low-cost barrier to entrepreneurship.
What do you need to start a business?
- You need access to a computer.
- You need an Internet connection.
If you don’t have access to a computer and the Internet at home, you can borrow a computer with an Internet connection from family and friends. Alternatively, you can rent one in an Internet cafe or use one in your local library for free.
The are many resources available to young entrepreneurs for building a business:
- You can start a blog for free.
- You can get cheap hosting for your blog and website.
- You have easy access to free and low-cost technology for business and marketing.
- You can easily access a lot of tutorials online to educate yourself about starting and growing a business.
- You can collaborate with people anywhere in the world using social media and other tools for free.
- You can have access to a global audience and reach your customers using free and low-cost marketing strategies.
- You can use crowdfunding sites to raise money for your start-up. However, most entrepreneurs choose to self-fund or bootstrap their company.
The infographic below shows many useful ideas for young entrepreneurs starting and building a business.