Is it hard for a young person to start a business

December 14, 2008 6:54am CST
When i say start a business, i mean an offical, goverment reconised one. i took a course in business, and understand the preperation of starting a business, but we were never told about making it offical with companies house. the business i want to start is a electrical disposal service. cheers
1 person likes this
2 responses
14 Dec 08
I deo not think that it is that hard, i run a online business that i started without anything, i then grew my clients so started to make money through this, yes this is a goverment run scheme and i also have to pay the tax man but i still earn enough cash to live, thanks
14 Dec 08
I thought about trying to start some sort of internet business, but in all honestly, i wouldnt have anything that someone else hasnt allready done, and already been over done
@stiener (735)
• Singapore
15 Dec 08
Actually, it is very subjective to determine whether it is tough for a young person to start a business. Let me point out 2 simple issues that supports and reject this claim. It is difficult for one to start a business because he may lack the capital or experience in running a business. Unless one person has been working part-time or sideline jobs/investments since young or has financial support from others, else he will be lacking capital to start. Even taking a loan from financial institutions will be difficult. Next they lack the experience which includes social experience to form deals for the company. This requires a lot of networking that youngsters usually do not have when starting fresh. Even as you are a graduate in business management, it may be difficult for you to cope with problems experienced in reality rather than in the textbook. I remember debating with a group of potential scholars about an issue in the business market. As I debated against the group, one of them question my grades in Business and I told them that I have gotten a "C" and they immediate concluded that my analysis does not stand. We watched how the situation progress in the way I have explained. Never had the group of scholars debated about business with me in my life. I had another discussions with 2 Business graduates who gave all sorts or reason why the fuel prices will continue to hit new highs. I felt otherwise because of one simple reason which is also the fundamentals of economics. The demand is not sustainable in the long run. But, the market proved them wrong again. I am a BSc of Psychology and that was the reason again that my explanations were not good enough for them to accept. What I understand is that they are fresh in the business world and they had a lot to learn. I have been studying and exposing to the business field since the age of 14. Despite the fact that I do not hold the qualification, it does not mean that I know nothing about management. They were simply binded by the boundaries of their textbooks and the classrooms. Being young has its clear advantage over more "experienced" people in the society. When you are young, you are adaptive to changes. You can take setbacks and back on your feet almost immediately. You are more exposed to things in the trend and that is where new business opportunities resides. You are open to ideas and dares to take up the challenge. Because you are young, you see a long path ahead of you and unlimited fields to venture into whereas old people feels that they are almost reaching the end of the road. They take no chances in their lifes and seek security with consistency. I am sure there are bound to be people exceptional to such cases. It is either they know it themselves or their actions that have proved them otherwise. Youth is something that money cannot buy and there is no way to turn back time. You can come back from a fall but not revert the aging process. This is just my personal experience and opinion. Happy MyLotting...