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How to Succeed as a Young Entrepreneur – Essential Resources

How to Succeed as a Young Entrepreneur – Essential Resources

By Caron_Beesley, Contributor
Published: September 13, 2012 Updated: September 21, 2016

Move MastersAccording to Kauffman Foundation, young entrepreneurship in the U.S. is on the rise, with the 20-34 age group comprising 29 percent of the total new entrepreneurship activity in 2011.

Entrepreneurship can be an exciting adventure, and for the young it can be easier than you might think. The barriers – including cost of entry –are low, (working at home, online, etc.), and younger people are often unconstrained by the commitments of family and marriage.

And of course, there are inspiring role models from big names like Facebook’s Mark Zuckerberg and SBA’s very own 2012 young entrepreneur of the year, Mark Masters.

You don’t need a business degree or the backing of an investor to go into business, you just need an idea. Of course, starting a business has its challenges. This is especially true for young entrepreneurs without business experience. Common questions include:

  • How can I be taken seriously?
  • Is there a market for my business?
  • How much will it cost me to get started?
  • How do I get in front of the right people?
  • Do I need to incorporate?
  • When do I start paying taxes?

If you are interested in starting your own business, take a look at SBA’s Young Entrepreneur Guide, a one-stop resource for any young entrepreneur looking for resources and financial support to start a business. The site includes free online courses, links to in-community training and support, and other initiatives from across the U.S. government intended to make it easy for our youth to succeed in business. The site is constantly changing to reflect the latest initiatives, but current resources