I came across this story in Business Week and it made me think back to my younger days. It’s always been difficult for young Americans to start their own business, and for a variety of reasons. When I was in my late teens and early 20’s, I remember working for my cousin on his landscaping business. My Uncle bought the business for him and sent him out on the road to get new clients. Had my Uncle not invested the capital in starting the business, my cousin would never have been able to grow the business to what it is today.
A few years later, I decided to start my own Car Detailing business. It didn’t take much capital to start, and with the help of friends and family I had an instant clientele. Many entrepreneurs in American history have started with next to nothing. Some had the fortune of inheritance and others the connections to bring in investors.
However, if you read this story you’ll find that in today’s world it is much harder for young people to start their own businesses. With the typical income of someone under 35 in America being $11,800, you can see how massive the challenge is!
Click this link to read the Business Week Story: “Why So Few Young People Start Businesses”