1. Business Ideas
  2. Business Plans
  3. Startup Basics
  4. Startup Funding
  5. Franchising
  6. Success Stories
  7. Entrepreneurs
  1. Sales & Marketing
  2. Finances
  3. Your Team
  4. Technology
  5. Social Media
  6. Security
  1. Get the Job
  2. Get Ahead
  3. Office Life
  4. Work-Life Balance
  5. Home Office
  1. Leadership
  2. Women in Business
  3. Managing
  4. Strategy
  5. Personal Growth
  1. HR Solutions
  2. Financial Solutions
  3. Marketing Solutions
  4. Security Solutions
  5. Retail Solutions
  6. SMB Solutions
Product and service reviews are conducted independently by our editorial team, but we sometimes make money when you click on links. Learn more.
Start Your Business Entrepreneurs

Kids Ready to Take Reins of Business Ownership

Step aside, folks, and make way for the next generation of young entrepreneurs. In spite of the lingering recession, 40 percent of young people between the ages of 8 and 24 would like to start their own businesses at some point in the future.

And these kids already have their sights set on financial freedom. More than 30 percent of 8- to 12-year-olds said they would prefer to own their own business than work for someone else. These are the finding of a Kauffman Foundation poll – released in conjunction with the start of Global Entrepreneurship Week (GEW).

Knowing someone who has started a business seems to be key to encouraging similar action among youth. Among those who know an entrepreneur , almost half (46 percent) would like to start, or already have started, businesses, compared to only one-third (31 percent) of the young people who do not know a business owner .

Nearly six-in-ten tweens (58 percent) and teens (59 percent), and even more young adults (66 percent), know someone who has started a business.

Interestingly, entering the workforce seems to have an impact on how kids perceive business ownership. Young adults, for example, prefer the security of working for someone else more than teens do.

This year’s, GEW is being held this week and features event, seminars and training all over the world. It is also encouraging social media participation.