Member Article

Why it’s important to inspire enterprise in young people

There is a distinct gap between older and younger generations. A gap that not only acts as a divide on issues such as politics, attitudes to work, money and family values, but as it widens it causes society to become more fragmented. However, within the business world younger people can look to their elders for guidance and advice; whilst the older generation will look to the younger as the future of business and to provide lasting wealth for our economy.

Having started business at the age of 14, I understand the struggles and obstacles that lie in the way for young people wanting to start out. For many, they can feel disenfranchised and as though their goals aren’t achievable or tangible. However, it’s important that young people are encouraged and nurtured on the path to success. My advice to any young aspiring entrepreneur from any walk of life is that it is possible to achieve your goals with the right attitude, support and of course a lot of hard work.

According to research, more young people are looking to start their own business than ever before. A recent survey conducted by Populus suggests that nearly twice as many people aged between 18 and 30 are now in the process of starting a business compared to just over a year ago.

Whilst this research is affirming the idea that young British entrepreneurs are on the rise, there is still a misconception that only those with a university degree or from a privileged background will thrive in the business world. However, from my own experience, having a university degree, or coming from a privileged background, isn’t a prerequisite to being a successful entrepreneur.

Unsurprisingly even some of the most recognised business figures aren’t from typical backgrounds. It’s widely known that Alan Sugar left school at the age of sixteen and even some of those from BBC’s Dragon’s Den chose not to go university in favour of pursuing their own business ventures.

Young people shouldn’t concentrate on their background or circumstances and let that hold them back from future success. The business landscape is a diverse scene full of successful entrepreneurs with their own personal back stories and obstacles that have helped them get to where they are today.

With the right mindset, hard work and determination to succeed, anybody can prosper within business and overcoming your personal obstacles and circumstances will become easier. There are many organisations today that are aimed at helping aspiring entrepreneurs, particularly from disadvantaged backgrounds, succeed in business. In order to help these individuals thrive, having the right support in place is essential if we are to continue seeing the UK’s boom in young and diverse entrepreneurs.

Dr Stephen Fear will be co-hosting ’Dr Fear’s Business Remedies’, a four-part series aimed at inspiring young people to go into business. The first episode will be broadcast on September 8th at 5:30pm on Ujima Radio 98FM.

This was posted in Bdaily's Members' News section by Stephen Fear .