Enterprises should then go ahead and start up the business when they get the idea. It would be a waste of time if a young man or woman has a great idea but does not bring the idea into work.
It is important for the entrepreneurs to have everything ready that pertains to that business; tax laws, capital and time needed to begin. When everything is ready, practically start this business; get funds, buy the needed materials and have the name of your enterprise among others necessities.
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They should also understand that they are their own bosses and this call upon them to be more disciplined on how they manage their time and resources. Young entrepreneurs are expected to love and enjoy what they are doing if they have to be fruitful.
An entrepreneur can be described as someone who uses his or her creativity to serve the needs of others.
Nowadays people in business today started when they were young; many started as teenagers, because the ideas are fresh and the drive to succeed is at its highest level. For the youth that have finished his/her education, now is the best time to start your own business venture than waiting for the government for white collar jobs.
According to experts, starting a business when you are in your youthful age will increase your chances of succeeding, considering the luxury of time you have. There are fewer distractions such as family, job and adult obligations.
Youth entrepreneurs are people who start working early. In their youthful years, they are already owners of their own businesses or preparing to launch something.Their success rate is also enviable. Many studies and research among the youths of different schools and places have revealed that most of them want to be an entrepreneur or do something of their own at sametime of their life.
A youthful mind is generally an imaginative mind, not yet constrained by the restrictions imposed by age. This can lead to ingenuity and ground-breaking ideas, yet many young entrepreneurs fall at the first hurdle due to the perception that their product or service will never be funded or supported. Hence, if you have an idea, seek an opportunity and seize it!.
Along with mentoring, I encourage progressive business owners to consider providing venture capital support to young persons with solid business ideas. This financial assistance and managerial support will help to ensure a higher success rate among youth entrepreneurs.
The government should also look at establishing business incubators for young entrepreneurs where they can receive individual guidance, continuous business training, support facilities and tax incentives.
Blessing Pius writes from Department of Mass communication, University of Maiduguri