Special Challenges on Teen Entrepreneurs

Only available on StudyMode
  • Download(s) : 159
  • Published : July 8, 2012
Open Document
Text Preview
Special challenges that must be faced with teen entrepreneurs are: Credibility:
The main problem of credibility is because of age difference. Teen entrepreneur candidates who will develop business will be treated as a young guy who does not have knowledge or experience in a business. Even more, because of teenagers bad habit that usually seen by older people, they are labeled “a lazy people who only do what they want” by older people. This makes finding business partners, borrowing money from a finance firms, and getting some customer is harder, because they will have less faith than older entrepreneur do. However, because of knowledge and experience on living that the teenagers had in their era, they are probably able to do more than older entrepreneurs despite of their lack of business experience. Financial:

To start a business, entrepreneurs certainly need funds to initiate it. Because of the status of teen entrepreneur which are student, they are unable to produce financial capital for the business with their own hands right now. Besides, teen as they are, banks and other finance firms do not easily build trust on their capacity as entrepreneurs. That is why in loan approval, they will be least prioritized than older people. If granted, they will be given lower financing schemes than older people get. However, even they cannot handle capital problems perfectly yet, they still can manage it with doing part-time job for a while, also they can ask for help from their parents and relative to help them by donating their capital. Time Management:

Teen entrepreneur candidates must able to control their time nicely, because besides becoming an entrepreneur, they are also a student who has a duty to study in their school. Besides, they also have to take some entertainment (playing games, watching TV, etc), associate, doing an interpersonal relationship and relax in time between after doing schoolwork and next tomorrow morning. This makes them unable to manage...
tracking img