The New York Times article Teenagers are Building Their Own Job Engine talks about teens starting their own businesses because of a lack of jobs.
According to the article, teen unemployment is at 22.7% and the economic downturn is leading older workers to take jobs that teens would normally get. This is resulting in teens becoming necessity entrepreneurs - starting businesses because there are not other options.
Gen Y continues to appear to be a very entrepreneurial generation.
It's fascinating, isn't it? I remember in my day how limited the prospects felt for myself or my friends. It was the local supermarket, shopping mall, gas station or bust. The thought of becoming entrepreneurs would have never occured to us. All is changed now.
Posted by: Donald | July 06, 2009 at 05:43 AM
This phenomenon is likely facilitated by the growth of the Internet, especially with the introduction of social media. It's so easy to create a video to promote yourself and use sites like YouTube and AdWido to get easy exposure for your business. Combine this with Facebook or Twitter and you've already got a pool of potential customers -- your friends and the people they know.
Posted by: Matt | July 21, 2009 at 10:07 AM