WHY EVERY YOUNG PERSON SHOULD EMBRACE ENTREPRENEURSHIP

Why every young person should embrace entrepreneurship

There is a latin adage that says “Ceteris paribus elses quis vuit alicui servo” translated as “ All other things being equal, nobody wants to be someone elses servant”. This is a trait that is in every human, but only a few displays it in commerce. These individuals are the owners of SME and Large businesses. It has been observed from survey that up to 70% of self employed individuals have no intention of returning to the conventional employment. Rather they intend to grow their businesses.

Here are few reasons you as a young individual should desire to create your own business:

Job safety and future security is what every individual deserve. Professionals born in the 1950s, reaching retirement age have worked for the same employers for more than 30years. In return, they received desirable health benefits, countless perks and a good retirement plan. Those born the 1970s and 1980s get only about one-third of this benefits.

I read a story on the social media; “In Nigeria a man started work with the civil service in 1983 with a basic salary of N500 ($700), he retired in 2016 on a basic salary of N180000 ($500). For 33 years, he was slowly and consistently moving backward.

Employers are shifting from FTEs to Contract workers:

Employers now see full-time employees (FTEs) as costly and inflexible. They desire to cut every cost possible to optimize productivity and maximize profit. When workers are on contract, the company is no longer responsible for common employee needs; health care, income taxes, retirement and insurance.

System has shifted to independent professional and client economy:

We are already in the twenty-first century, Technologies are evolving and approaches to problem solving are advancing. The conventional employer-employee roles in the economy is becoming obsolate. Business owners are consistently on the lookout for clients. After all the business is established meet clients needs and the employees.

You Take Charge:

You have the opportunity to take control what happens in your life from the start. Self employment offer an increased flexibility and uncapped income. You do not want to be swallowed up in the politics and shuffling of corporate organisations. Workers want to have flexible hour that accommodate personal priorities.

You Can Thinking:

As a youth you need to think deep and make moves while you still can. Young people think deeper and believe in the possibilties in impossibility. It has been scientifically proven that when presented with the problems, kids propose hundreds of solutions compared with adult. It simply demonstrate how wide and confident a young mind can be.

Career independence is the future, the earlier one can embrace it, the sooner he/she takes the drivers seat in the new economy.