Challenges & Obstacles for Young Entrepreneurs Unit 1.

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Presentation transcript:

Challenges & Obstacles for Young Entrepreneurs Unit 1

Challenges for Young Entrepreneurs The greatest difference between a youth and an adult with respect to becoming an entrepreneur is age and specifically: ▫limited experience and knowledge ▫no credit history, no collateral, and no track record in paying off debt, which makes obtaining financing a real challenge.

Opportunities for Young Entrepreneurs Media interest helps young entrepreneurs market their ventures with free publicity that adds credibility to their efforts. There are many business start-up programs available to help young people; they are usually free of charge and offer consulting, mentoring, and administrative services. ▫St. Catharines Business Enterprise Centre

Other opportunities: Part-time job experience before you start your own business offers an opportunity to develop enterprising and entrepreneurial skills. ▫ Learn the importance of reliability. ▫Develop the ability to complete work quickly and accurately. ▫Hone interpersonal skills. ▫Learn about infrastructure and about the industry. ▫Develop a positive reputation in the industry. ▫Build a network of contacts. ▫Earn money you can save for the future.