Entrepreneurship by Young People Essay

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Young people’s entrepreneurship alludes to the ambitions and endeavors made by people under 35 to create and operate their businesses. These entrepreneurs frequently have fresh viewpoints and insights and may add vitality and creativity to the marketplace. Socially responsible business is one type of entrepreneurship I find personally interesting because of its transformative aspect locally and internationally. TOMS Shoes demonstrates an innovative company model, such as socially responsible entrepreneurship, in order to tackle social concerns and contribute to more equitable and sustainable world.

The technique of employing company strategies and actions to positively influence the community and the environment while still attaining financial success is referred to as socially responsible entrepreneurship. This can include employing environmentally friendly materials, establishing fair labor standards, or creating products and services that address social issues (Zainea et al., 2020). This form of entrepreneurship appeals to me because it corresponds to my beliefs and principles about the importance of business in society. Businesses have to add to the prosperity of their communities and the global community, and socially responsible entrepreneurship is one method.

TOMS Shoes, which uses a “one for one” model in which a pair of shoes is donated to a kid in need for every pair sold, is an example of a socially responsible enterprise. TOMS has used this concept not only to support children in need but also to establish a successful and profitable business with a good impact on society (Zainea et al., 2020). Socially responsible business is vital because it can help address some of our world’s most pressing issues, such as poverty, unfairness, and ecological harm. Socially responsible businesspeople can assist in creating a more equitable and sustainable society by utilizing business as a force for good.

In conclusion, as a remarkable example of socially conscious entrepreneurship, TOMS Shoes has improved the lives of children in need while growing a successful and lucrative company. The success of TOMS Shoes demonstrates that socially conscious companies may be successful, long-lasting, and able to impact society. By combining economic and social objectives, businesspeople can utilize this concept of socially responsible entrepreneurship to address a range of community’s issues and achieve a more just and sustainable world.

Zainea, L. N., Toma, S.-G., Grădinaru, C., & Catană, Ș. (2020). Social Entrepreneurship, a key driver to improve the quality of life: The case of TOMS company . Business Ethics and Leadership, 4 (3), 65–72. Web.

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essay about young entrepreneurs

Youth entrepreneurship is transforming our economy, but what does it take to excel as a young entrepreneur? Uncover the essentials in this no-fluff guide. We lay out the strategies that are propelling young business minds to success, the impact they’re creating, and how you can follow in their footsteps.

Key Takeaways

Youth entrepreneurship is surging, driving economic growth and innovation, and providing young people with financial independence and invaluable life skills.

An entrepreneurial mindset coupled with creativity, risk-taking, resilience, leadership, and communication skills is vital for young business success.

Support systems, including education programs, mentorship, networks, and financial resources, are critical for overcoming challenges and propelling young entrepreneurs toward achieving their goals.

The Rise of Youth Entrepreneurship

Young entrepreneurs are shaping the future of our economy, from running their first lemonade stand to seizing opportunities in the broader world of entrepreneurship, including the informal economy. With more children launching businesses, youth are empowered to gain financial independence and foster their growth while generating employment for others.

Rise of Entrepreneurship

No matter the age, anyone can start up their own business. Even a simple lemonade stand provides first-hand experience and imparts important life skills such as problem solving, customer relations and money management. For those interested, here's a great resource on how to start a lemonade stand , which can be the first step in a young entrepreneur's journey. These experiences will likely lead to success in larger entrepreneurial ventures down the road.

The blend of creativity and innovation brought forward by young entrepreneurs, whether they're selling lemonade or launching a tech start-up, has transformed how we view this space. It spans both traditional markets and modern technology platforms that enable new possibilities for today's youth.

Factors Contributing to the Growth

The youth entrepreneurship movement is driven by a variety of contributing elements, primarily access to knowledge. In today’s digital world, young entrepreneurs, even those running a simple lemonade stand, have access to an abundant selection of data and materials that aid them in making informed decisions, seizing chances for success and competing in the market efficiently. This advantageous availability benefits not just them but also suppliers they use as well as their employees, all having an impact on the greater community at large.

Supportive networks are crucial for young entrepreneurs, especially for elementary and middle school students who may be dipping their toes in entrepreneurship through ventures like lemonade stands. Being part of such a network creates a powerful atmosphere amongst like-minded individuals. This environment connects these aspiring entrepreneurs to larger circles. These circles offer invaluable advice and guidance. They also provide necessary tools like mentorship from successful role models.

mentors and role models

These role models, who may have started their entrepreneurial journey with a lemonade stand, offer advice that is even more valuable. This support helps young entrepreneurs tap into the fast-evolving global economy. It's an economy where creativity often wins over competition from existing companies. This pushes forward growth and encourages more youthful participation within the industry, be it running a lemonade stand or launching a tech start-up.

Impact on the Global Economy

Young entrepreneurs, including those starting with simple ventures like running a lemonade stand, have a profound influence on the global economy. Not only do they generate profits, but they also make invaluable contributions to society by creating jobs and offering meaningful employment opportunities to others. These young innovators, even those who start with a lemonade stand, help foster an innovative spirit and introduce fresh ideas into the market. These contributions promote economic growth for developed countries as well as aid development in countries that are in need.

Entrepreneurship, even at the level of a lemonade stand, can help these less fortunate nations reduce poverty through job creation, alleviate income inequality, and catalyze their overall development progress – successes made possible with youth ambition at its center point. Thus, businesses managed by young people can be seen not just generating profit or increasing productivity but rather that it is making notable differences too far-reaching than what money alone could accomplish.

Building an Entrepreneurial Mindset

Fostering an entrepreneurial mindset is essential for the success of young entrepreneurs. This involves more than just business knowledge and technical expertise, it encompasses various attitudes and behaviors that will help them surmount difficulties, capture opportunities, and advance their enterprises forward. These include traits such as creativity and innovation, which can be honed through simple ventures like running a lemonade stand. For instance, learning a simple lemonade recipe can be the start of understanding product development.

Risk taking and tenacity are also crucial, which can be learned from managing a small business, such as a lemonade stand. Command and interaction, when blended together, equip these budding entrepreneurs with all the skills required to realize their ideas into successful businesses, whether they start with a lemonade stand or aim for a tech startup, making a substantial contribution to society.

Creativity and Innovation

Young entrepreneurs have the opportunity to stand out in today’s business world by utilizing creativity and innovation, even when it comes to running a simple lemonade stand. By creating unique concepts, products or services, like a lemonade stand with a special twist, they can gain a competitive edge that allows them to respond quickly with solutions when faced with market changes. For some creative lemonade stand ideas , check out this link.

creative twist

Entrepreneurship provides an environment for budding professionals to develop ideas which meet their customer’s evolving needs while also challenging current norms of thinking. Even a lemonade stand can be a platform for them to experiment and learn from their mistakes. By encouraging experimentation and learning from mistakes as part of their entrepreneurial journey, young innovators will create businesses that are ahead of the game using modern strategies born out of creative problem solving.

Risk-taking and Resilience

Young entrepreneurs need to develop an entrepreneurial mindset which includes risk-taking and resilience. They must be open to taking calculated risks, trying new things, and leaving their comfort zone in order for a business venture to be successful. This includes coming up with catchy lemonade stand names to attract customers.

This is something that can easily start with children as even running a lemonade stand offers valuable lessons about these essential qualities of entrepreneurship. By being able to take chances while managing adversity constructively so they gain more insight into how businesses work effectively.

Leadership and Communication

Young entrepreneurs need to hone two key skills in order to lead their businesses effectively; leadership and communication. This development can start as early as running a small venture like a lemonade stand. Creative lemonade sign ideas can be a fun way to practice marketing and communication skills.

Making strategic decisions about pricing and product, motivating peers to join in, and building meaningful relationships with customers are all part of the process. Likewise, being able to articulate ideas clearly, comprehend what customers want, and negotiate well are skills that can be nurtured in these early stages.

These abilities are essential for young business owners to succeed in achieving their goals, whether it’s a lemonade stand or a tech startup. Thus, investing time into honing these capabilities from the get-go is of great importance for the success of any entrepreneur’s venture!

Inspiring Examples of Successful Young Entrepreneurs

Young entrepreneurs around the world have used their ideas and enthusiasm for entrepreneurship to create successful businesses. These ambitious trailblazers, who come from different backgrounds and industries, are setting examples by making a real difference with their passion for business-building. Essential to their success are the right tools and resources, such as finding the best lemonade stand supplies .

From technology innovators disrupting entire sectors of industry to social entrepreneurs utilizing sustainable practices in pursuit of solutions to big problems. Even creative minds find success through art - these motivated youth truly showcase what can be accomplished when armed with entrepreneurial spirit.

Technology Innovators

Young entrepreneurs, such as Mark Zuckerberg and Dustin Moskovitz who founded Facebook, prove that age does not define success in technology. The stories of these ambitious minds emphasize the necessity to have technical skills, passion for innovation, perseverance, which all contribute to achieving goals when creating products/services with a technological aspect. Similarly, even a simple lemonade stand flyer can be a step towards mastering marketing skills.

Their accomplishments show how vital it is for young entrepreneurs like them to adapt swiftly given their ever changing industry landscape so they can utilize modern technologies in order to maximize potential successes.

Social Entrepreneurs

Many young entrepreneurs are utilizing their businesses for social development. Notable examples include Kamaria Warren who founded Brown Girls Stationery, Lily Born the creator of Kangaroo cup and Fraser Doherty a leader in community beekeeping projects. These ambitious business people have created meaningful change in society by establishing companies that not only focus on making profits but also have the goal to tackle environmental and societal problems too. Even the aesthetics of a business, like lemonade stand decor , can reflect its values and mission.

Positively impacting lives as well as initiating progress within local communities with entrepreneurial methods. This highlights how being an entrepreneur can be used constructively creating motivation among other innovators aiming to make beneficial contributions through their own enterprises.

Creative Visionaries

Young people in the creative fields are achieving success by turning their artistic talents into thriving companies. Examples of such entrepreneurs include Moziah Bridges and his collection of ties and accessories, as well as Mia Monzidelis who has made waves with her Power Pony concept. They also learn to navigate the legal aspects of business, such as understanding if you need a permit for a lemonade stand .

These innovative businessmen have demonstrated that creativity can be used to achieve great accomplishments both financially and culturally. They bring color and beauty to our world while generating profit at the same time.

Their stories serve to inspire others on how one’s ideas should never remain just an idea – if you work hard enough then it could turn out successful like these very inspiring entrepreneurs show us every day!

Supporting Youth Entrepreneurship: Programs and Initiatives

Young entrepreneurs need the right support and resources to turn their business ideas into successful ventures. They require educational programs, mentorship opportunities, financial resources as well as training to help them navigate any potential challenges along the way. Engaging in activities like a lemonade stand game can also be a fun and educational way to learn about business. This kind of backing enables young entrepreneurs with knowledge, skills and necessary networks for beginning or expanding businesses in order to reach success.

The learning process within these programs not only provides an understanding of how things work, but also gives access to important connections that can greatly benefit a startup’s growth prospects while equipping them with the tools they would otherwise have no chance of obtaining alone, thus nurturing innovative minds toward achievement goals desired by all aspiring innovators. With this combination provided, motivated individuals are able more easily succeed in turning viable concepts into lucrative realities fueling innovation through proactive initiatives world wide.

Educational Programs

Youth entrepreneurs can benefit immensely from educational programs designed to bolster their business acumen and skills. Programs such as workshops, online courses, competitions, mentorship schemes, and initiatives like Lemonade Day offer young people the chance to gain practical experience with regards to topics like starting a company, analyzing markets and concepts, along with financial literacy and sales strategies that help them succeed in this area of work.

For kids attempting their own entrepreneurial endeavors (such as running lemonade stands), taking part in an education program or participating in events like Lemonade Day provides the perfect opportunity for children to gain hands-on knowledge in all areas of enterprise. This allows them to develop invaluable traits which may one day prove beneficial in any future ventures they embark on.

running a stand

Mentorship and Networking Opportunities

Mentorship and networking can be incredibly valuable for young entrepreneurs to achieve success. Having a mentor provides guidance, support, encouragement and an example of what is possible with dedication. Networking enables them to connect with other business owners and professionals as well as potential customers, which opens up new paths of opportunity. These two important resources are essential in order to help build successful businesses for future generations of budding entrepreneurs.

Financial Support and Resources

Many young entrepreneurs have innovative business ideas, yet find it difficult to acquire the necessary capital. To get around this problem, they can depend on personal savings and contributions from friends or family members as well as receive loans or investments from angel investors and government grants.

Crowdfunding sites such as Kickstarter, Indiegogo, GoFundMe, Patreon are also becoming increasingly popular in providing resources for entrepreneurial ventures initiated by youth. Not only do these avenues offer monetary aid, but they also provide an initial platform to increase awareness of their venture amongst potential customers.

Young people hoping to gain funds through crowdfunding need merely pitch their businesses’ plans online directly reaching out to a larger public who may be interested in sponsoring them financially. This type of support allows startups access much needed backing along with creating customer leads for new enterprises at the same time, two advantages which prove especially beneficial when starting off small operations like that favored by aspiring entrepreneurs today.

Overcoming Challenges in Youth Entrepreneurship

For entrepreneurs, especially young ones, achieving success means conquering various obstacles. Things like managing their studies and businesses together or obtaining access to capital must be tackled in order for them to reach the goals they have set out with their business ventures. With commitment as well as proper planning of strategies and harnessing needed resources, however. These issues can easily be overcome enabling budding entrepreneurs to concentrate more on honing skills vital for being an entrepreneur while gaining progress towards successes that go beyond merely starting a lemonade stand but rather striking it big through innovative startups.

Balancing Education and Business

Young entrepreneurs often face the challenge of having to divide their attention between schoolwork and running a business. Fortunately, with careful planning and efficient time management, this problem can be effectively dealt with.

Parents have an instrumental part in helping their children achieve success by being there for support while providing resources such as guidance on how best to prioritize tasks so that both education and entrepreneurship are given appropriate attention. With the right level of assistance from loved ones, young aspiring businessmen/women will easily find ways to excel at all they set out to do academically or entrepreneurially!

Access to Capital

For young entrepreneurs, getting the necessary funding for their business ideas is a big challenge. Despite having great concepts in mind, limited financial resources may prevent them from setting up a new venture. With ambition and effective planning, it can still be accomplished through various methods such as personal savings or investment received from family members and friends, loans provided by banks or investors, and government grants. And crowdfunding platforms. These are just some of the possibilities that aspiring businessmen must take advantage of to get the sufficient capitalization needed to turn these unique notions into thriving enterprises.

Building a Supportive Network

Young entrepreneurs aiming for success must construct a strong support system. They can gain insight and resources by creating connections with mentors, peers in the same industry, and other experts. Such networking helps to negotiate entrepreneurship related issues while learning from others’ experience as well as allowing exposure of their businesses.

To form such networks, young entrepreneurs should participate actively at events or programs dedicated to entrepreneurship. Get involved in clubs/organizations that focus on it, look out for potential mentors specialized in this field, use digital channels (platforms and social media) to reach like-minded people, collaborators and eventually consumers. A supportive network gives ambitious business owners more chances to achieve successful results in their endeavors.

The journey of youth entrepreneurship has the potential to bring exciting opportunities for young people, allowing them to learn and evolve while also making an impact on our society. Through their creative business ideas (from a simple lemonade stand to launching tech startups), these budding entrepreneurs are helping shape today’s ever-changing market landscape with groundbreaking innovation.

As rewarding as it may be, embracing this entrepreneurial lifestyle is not without its difficulties. By equipping themselves with the right attitude along with necessary knowledge and resources, they can conquer any obstacle that comes in their path to success. We congratulate those already taking part in this venture now – being able to forge ahead into tomorrow’s world through their courageous decisions made today!

Frequently Asked Questions

Why is youth entrepreneurship important?

Youth entrepreneurship is incredibly valuable due to the innovative solutions it offers. Starting at an early age, these young minds generate ideas that can have a positive effect on society and address pertinent global issues.

By promoting entrepreneurial activity in youngsters, we inspire them to be problem-solvers as well as encouraging creative thinking, which may result in incredible inventions of benefit for all.

What is the youngest age to be an entrepreneur?

Anyone of any age can start a business, except in states where it’s expressly prohibited. In California, a 12-year-old can technically start an LLC with the help of a parent or guardian to navigate the process.

What is the disadvantage of youth entrepreneurship?

The challenge of youth entrepreneurship comes from the lack of knowledge that leads to a costly learning process for these young entrepreneurs. They often have difficulty getting financial support such as loans and investments due to limited access. This can make it difficult for them to grow their ventures successfully without having been exposed beforehand in this area. With perseverance and determination, most are capable of making progress along their entrepreneurial journey.

What is a youth entrepreneur?

Youth entrepreneurs are driven individuals who focus on business opportunities, even with the risks involved. They actively create and manage their own ventures in order to tackle economic issues like unemployment or poverty. Such enterprising young people look for ways to move forward despite any potential setbacks that may occur along the way.

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essay about young entrepreneurs

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The Secrets of Highly Successful Young Entrepreneurs

Getting a head start may help founders, but learning and taking risks are key to growth.

November 03, 2021

Colorful illustration of two entrepreneurs interacting with shapes and charts, surrounded by squiggle lines, circles and squares. | Credit by iStock/stonepic.

Young portfolio founders are the “stars” of serial entrepreneurs. | iStock/stonepic

In entrepreneurial circles, there’s a long-running, often contentious debate about who’s ultimately more successful — middle-aged founders or those who launch ventures in their 20s and 30s. Recent research has shown the average age of successful startup founders is 45. Yet founders under 40 run more than 40% of all new firms.

Plenty of well-known entrepreneurs got an early start. Mark Zuckerberg, Bill Gates, and Steve Jobs began their companies when they were in their 20s, contributing to the popular belief that the most successful entrepreneurs start young. (As the 22-year-old Zuckerberg stated, “Young people are just smarter.”) Those who see middle-aged founders as more accomplished say older founders’ years of experience and lessons learned contribute to their outsized success.

Kathryn Shaw , a professor of economics at Stanford Graduate School of Business, contributes to the ongoing discussion with a new paper coauthored with Anders Sørensen of Copenhagen Business School. Their research finds that founders in their mid-20s to early 30s learn and invest over time and can ultimately run new firms that are even more productive than those founded by older entrepreneurs.

In particular, entrepreneurs who get an early start running a firm and then open a second one can be quite successful, and in many cases are even more successful than founders who get started in middle age. Shaw and Sørensen find that young founders who become serial entrepreneurs see their sales revenues nearly double between their first and second firm. Their second firm is usually larger than the typical firm of older entrepreneurs.

The authors suggest that these ambitious young serial entrepreneurs share certain traits that feed into their success. “Serial entrepreneurs are very successful when they start young,” Shaw says. “Young people who end up being serial entrepreneurs learn on the job.”

These young businesspeople who “come of age” as serial entrepreneurs — 9% of all new founders — can evolve to be highly successful, Shaw says. “They’re a select group and they’re real go-getters.”

The Serial Entrepreneur’s Advantage

The researchers looked at data from Denmark on firm sales from 2001 to 2016, following more than 131,000 firms, most of which had founders who started only one firm.

On average, the founders they tracked were 38 years old and had 13 years of education. Seventy-five percent were male. Of all the firms analyzed — a combination of sole proprietorships and limited liability corporations across industries — nearly 18% were run by serial entrepreneurs.

Quote Young businesspeople who “come of age” as serial entrepreneurs can become highly successful. “They’re a select group and they’re real go-getters,” Shaw says.

In general, these subsequent firms tended to be more successful over time than novice, or standalone, ones. On average, serial entrepreneurs’ first firms were 57% bigger on their opening day than firms founded by novices.

The researchers discovered that young serial entrepreneurs, those in their mid-20s to early 30s, realize higher returns as they open their second business. Sales at younger founders’ first firms averaged $92,750 and $169,000 at their second, a jump of 82%. While sales at older founders’ first firms started off higher, at nearly $125,000, their second firms were only 20% larger than their first firms, and never matched the average sales level of younger entrepreneurs’ second firms.

Getting Older and Bolder

While some founders with a thriving first firm will choose to stick with a single endeavor, a subset will have both a great idea and the needed energy to start a second. Shaw and Sørensen also looked at these portfolio founders, who kept their first firm open as they opened their second firm, and made up 83% of all serial founders.

Young serial entrepreneurs’ second firms generally don’t fail as often or as fast as those run by novice founders. New firms run by novices fail, on average, three and a half years after opening.

The researchers also looked at the effects of parental business experience. Seven percent of the founders they studied had a father who was an entrepreneur. The probability that these founders would open an incorporated firm rather than a sole proprietorship was 4.3 percentage points higher when their fathers were entrepreneurs. The children of entrepreneur fathers also generated sales that were 5.9% higher than those of other founders.

As young serial entrepreneurs progress, they’re also more likely than older ones to register their second new business as an LLC, the researchers discovered, which protects them from personal losses should their firms fail. This increase in LLCs as young founders age also corresponded with the rise in sales between first and second firms, suggesting a link between the two.

Founders with an LLC may be even more emboldened, Shaw says. “The advantage of an LLC is that no creditors can go after your personal wealth if your firm fails,” says Shaw. “It gives downside protection, and when you have downside protection, you’re going to take on riskier projects in starting your new firm. Outsized firm success is then more likely when the entrepreneur takes greater risks, thus moving to LLC status with the second firm underpins the second firm’s greater sales success.”

“Young successful serial entrepreneurship is synonymous with portfolio entrepreneurship,” Shaw and Sørensen conclude. They describe these portfolio founders as the “stars” of serial founders. “We show that’s a clear way of achieving success,” Shaw says.

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essay about young entrepreneurs

Coming of Age: Watching Young Entrepreneurs Become Successful Kathryn Shaw Anders Sørensen

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Meet 10 Successful Young Entrepreneurs

Kamaria warren, ryan hickman, kiki hardee.

  • Michael 'Mikey' Wren

Moziah Bridges

Mia Monzidelis

Fraser Doherty

The bottom line.

  • Business Leaders
  • Entrepreneurs

10 Successful Young Entrepreneurs

Michelle Lodge is a contributor to Investopedia, who is also a writer, editor, and podcaster.

essay about young entrepreneurs

Every generation has had its share of successful young entrepreneurs, from agriculturalist Eliza Lucas Pinckney (1800s) to Apple founder Steve Jobs (1900s). Now, it's Generation Z's turn. Born between 1997 and 2012, this generation is finding innovative ways to make their own income. For many of these bright stars, that means starting early to pursue entrepreneurship as a means to leave their mark on the world. Read about the latest generation of entrepreneurs from the U.S., India, and the U.K.

Key Takeaways

  • A young entrepreneur is a child or young adult who finds opportunities to start and operate a business.
  • Kamaria Warren created a line of products for Brown and Black girls—stationary, vegan bags, and accessories—after finding no party products that represented girls of color. 
  • Ryan Hickman realized at age three he didn’t like the sight of discarded bottles lying on the ground, so he started collecting his family’s and his neighbor’s recyclables, which later became his business. 
  • Mikey Wren teaches financial literacy to kids in his community and has written two books on the subject.
  • Vinusha MK found her love of baking at a young age and is now the force behind Four Seasons Pastry, whose aim is to set up a cooking school for the underprivileged.

According to  The 2022 Investopedia Financial Literacy Survey , Generation Z adults (i.e., those between 18 and 25 years old) are more financially sophisticated than any previous generation was at their age. Some successful young entrepreneurs start really young. Whether inspired by family, events, or a desire to have fun, these young entrepreneurs set out to tackle the world of business.

At age 13, Hart Main came up with the idea of manly scented candles after teasing his sister about the girly scented ones she was selling for a school fundraiser. It wasn't until Hart set out to purchase a $1,500 bike that he reconsidered what he suggested in jest.

Hart and his parents contributed nominal amounts to begin the business and worked together to develop the candles, cleverly named ManCans. They are now handmade by the Beaver Creek Candle Company in Lisbon, Ohio, by a workforce consisting of people diagnosed with developmental challenges.

Adopting a simple and masculine theme, ManCans candles—with available scents including Campfire, Bacon, Sawdust, Fresh Cut Grass, and Grandpa's Pipe—are made using soup cans. As of 2016, Hart's candles are sold in every state, with sales exceeding six figures annually. Giving back to the community, Hart donates part of each sale to soup kitchens in Ohio, Pennsylvania, West Virginia, and Michigan.

At age seven, Kamaria Warren and her mom—graphic designer Shaunice Sasser—went shopping for birthday invitations for her upcoming party. What they found was no product that represented Brown and Black girls. That necessity hatched an invention, and Brown Girls Stationery was born.

That set the McDonough, Georgia, native on the route to creating party and school supplies, stationery, vegan purses, and accessories for girls. Most products bear a cheery illustration of a Black or Brown girl, and Warren also sells dolls.

“Because of our unique images and offerings, we are able to make money while having an impact,” Warren says of the business, which has five employees and five volunteers. She sells her products on Shopify, Faire Marketplace, wholesale, and at local events. On average, Warren sells some 10,000 notebooks, 2,500 notepads, and 1,500 backpacks each year.

What motivates her, Warren says, is “seeing other girls wear my stuff and being proud of who they are.” Her motto is: Dear Brown girl, you have the ability to change the world.

Failure and the fear of failure should not be the end of your entrepreneurial journey. Rather, allow failure to motivate you and use it as a catalyst to refine your strategy.

Ryan Hickman realized at age three that he didn't like seeing discarded bottles and cans lying on the ground, so he did something about it. Hickman started collecting his family's recyclables and then went with his dad to the local recycling center, where he got $5 for the haul. He was so inspired by that exercise that he started collecting his neighbor's recyclables by going door-to-door with a bag attached to his bike. By age seven, the Orange County, Calif., boy was running his own business, Ryan's Recycling Company.

Hickman has been lauded through the years by news organizations, including CNN Kid Wonder in 2017. He has also appeared on many national TV shows, including "Ellen" and "Today," talking about his mission. On his site, he sells T-shirts bearing the message, "Make the Sea Trash Free." All profits from selling his merchandise and recycling go to the rescue organization Pacific Marine Mammal Center. By April 2022, it had raised more than $14,000 and helped recycle 1.5 million cans and bottles.

Hickman has also started a new nonprofit, Project 3R, whose mission is to educate and stress the importance of recycling to kids and adults worldwide, as well as to organize and manage community clean-up efforts.

" If a kid like me can make a difference, anyone can, too," explains Hickman. "When we all do just a little bit, it adds up to a huge difference. Thanks for helping me clean up our planet."

The best way to deal with a spill is to avoid it. That's what inventor Lily Born had in mind when, at age eight, she noticed that her grandfather, who had Parkinson's disease, was frequently spilling his drinks, often leaving her grandmother to clear up the mess.

Born invented the three-legged cup, known as the Kangaroo cup, that won't tip and started her company called Imagiroo LLC. To perfect her design, Born and her dad traveled across the world to the ceramics capital of China, JingDeZhen. There, they were able to refine the models, find a manufacturer, and prepare for a production run of ceramic cups, which come in plastic, too. They also got financial support from the crowdfunding platforms Kickstarter and Indiegogo.

Today, Born has sold tens of thousands of Kangaroo cups worldwide and serves as an inspiration to children like her who don't see the problem, but the solution.

It was a good heart that led Vista, Calif.'s Katelynn "Kiki" Hardee at age five to make sure that neither her schoolmates' families nor local schools incurred debt for school meals. She had learned that her school in the Vista Unified School District had more than $600 in school lunch debt and that some kids had to skip lunch because their parents couldn't afford to pay for it. All of that was unacceptable to Hardee.

To raise money, Hardee began selling cookies and hot cocoa, as well as running other fundraisers, in what became known as Kiki's Kindness Project. Eventually, Hardee raised enough money to pay off the entire district's lunch debt to the tune of more than $7,000. Hardee's ongoing efforts have raised more than $22,000 with the goal of collecting $250,000—and encouraging other children to find ways to help those less fortunate.

Michael 'Mikey' Wren

Michael "Mikey" Wren definitely has a head for business.

At the tender age of eight, this St. Louis, Mo., boy started Mikey's Munchies Vending, a collection of vending machines. That was just the beginning.

Wren believes in helping the community by volunteering his time to teach financial literacy and hosts an annual drive to donate new toys to local kids. He has also written two children's books, Mikey Learns About Business , which covers writing a business plan, marketing strategies, and networking, and Biz Is a Whiz for children pre-K to 3. He regularly books speaking engagements to talk about his work.

Wren is also a member of two national kids' boards. He gave away $10,000 worth of brand-new clothing to youth in his community.

Mo's Bows

If style is important to you, then sometimes there's nothing for sale that suits your stringent sartorial standards. Enter Moziah Bridges, a Memphis native who at age nine couldn't find a suitable bowtie. So he started Mo's Bows—by first learning to sew and then making the colorful bowties with leftovers from his grandmother's sewing projects. Eventually, he hired tailors while he handled the creative and business sides.

Bridges, who has appeared on "Shark Tank," has sold more than $700,000 in handmade men's ties and accessories. He once gave then-President Barack Obama a custom-made tie in "Obama Blue," and his company also produced bowties and neckties for all 30 National Basketball Association teams.

Cole Haan, Bloomingdale's, and Neiman Marcus carry his products. In 2012, Moziah started the Go Mo Summer Camp Scholarship Fund, a charity focused on sending Memphis children to summer camp. To date, the organization has sent more than 50 kids to summer camp.

It was her mother's upcoming birthday that motivated Vinusha MK to bake a cake. The first time out, the cake tasted good but wasn't the right consistency. She vowed never to bake again—an oath that was short-lived. In subsequent tries, her cakes turned out great, and a baker was born.

"I started Four Seasons Pastry in September 2019," writes Vinusha MK of Chennai, India. "The name denotes seasonal colors and flavors used in cupcakes."

Vinusha also envisions setting up a culinary institute in India for low-income people. Until then, the industrious baker sells her signature cupcakes and a baking kit to help kids bake cakes without using the Internet or a smartphone. In the meantime, she is an intern under famous chefs at top hotels in India and sells pastries, cakes, chocolates, and sandwiches online through her business.

Lots of little kids want ponies. That's fine if they live in the country, but for urban and suburban dwellers, fulfilling that dream is nearly impossible.

That's what Mia Monzidelis' parents said to her when, at five, she asked for a pony to keep at her suburban home in Bellmore, Long Island, N.Y., but she was undeterred. She thought creatively about her dream and came up with the idea for Power Pony, a mechanical pony or unicorn made with a furry surface and mechanisms within that are interactive and have an iOS app.

The four-legged toys can travel around the room with the child riding in the saddle. The toy's dimensions are 20 inches from the ground to the saddle and 16 inches from the footpads to the saddle. It is 24 inches long from the handle to the tail.

Monzidelis said it was her dad who believed in her idea of creating the ponies and unicorns and helped her bring it to fruition. They sampled many pony toys before they struck the right one. "At times, it was frustrating, but we kept going until we got it perfect," stated Mia.

The company expanded to 15 employees and 12 volunteers, and during the 2021 holiday season, her company sold 5,000 units. In 2021, her company donated $5,000 to Garden City, L.I.'s Family & Children's Association. "I have always helped kids and families that are in need in whatever way I could, and now with Power Pony, I can help so many kids that are sick or need help," she says.

At the age of 14, Doherty began making jams from his grandmother's recipes. The teen started out selling the sweet treats door-to-door in his neighborhood in Edinburgh, Scotland. Then, he set up a stand at an Edinburgh farmer's market and biked to customers to deliver orders. However, as the word got out, he received more orders than he had time to fill. He dropped out of school and rented a factory for a few days each month to meet demand.

In 2007, the high-end U.K. supermarket Waitrose approached Doherty about selling his SuperJam products made from 100% fruit, leading to his jams gaining shelf space in many stores in the U.K. and Europe.  Five years later, Doherty launched his products in Korea and Japan, selling £1 million worth of merchandise in an hour on a Korean shopping network.

Even Queen Elizabeth II got into the act when she awarded Doherty an MBE medal for service to business in the U.K. By 2019, Doherty had sold his five-millionth jar of jam. He also runs hundreds of free tea parties for older people and has set up community beekeeping projects.

What Is a Young Entrepreneur?

A young entrepreneur is a child or young adult who assumes risks to start and operate a business or finds new ways to do business better. They are the type of person who identifies and pursues opportunities without allowing risks to become barriers.

How Do You Become a Young Entrepreneur?

If you are a child or young adult, think about a problem or issue you or someone you know have encountered and think of a solution. You could also think of how you can repurpose something that already exists. Create a plan, assemble resources, such as money, labor, and supplies, or seek help from an adult who can gather these resources for you. Don't be afraid to ask for help or learn from others who have been successful . Most of all, don't be afraid of failure. Use it as a learning lesson and continue toward your mission.

Who Are Some of Today’s Most Successful Young Entrepreneurs?

Possibly one of the most famous and accomplished young entrepreneurs is Mark Zuckerberg, who, at 19, co-founded Facebook (now Meta). Also topping the charts are Dustin Moskovitz, co-founder of Facebook, and Evan Spiegel and Bobby Murphy, co-founders of Snapchat. Not all young entrepreneurs will reach Facebook or Snapchat status, but success is definitely possible, as these 10 examples show.

Can a 12-Year-Old Own a Business?

There is no age limit on being an entrepreneur; a 12-year-old can become one. However, there may be an age requirement to legally form a business entity, depending on the jurisdiction. Some countries may allow a minor to own a legal business, but special legal rules could cause complications regarding the enforceability of contracts. Fortunately, in many areas, parents and guardians can file on behalf of minors.

Who Is the Youngest Major Company Owner?

On Feb. 3, 2024, Hong Kong's Hillary Yip, born in 2005, was likely still the youngest CEO in the world. She founded and runs MinorMynas, an online education platform for children. She began her journey into entrepreneurship at age 10, dabbling in the tech sector, and today sits at the table with some of the world's most renowned tech geniuses.

It's evident from these young peoples' stories that entrepreneurship is not a one-size-fits-all endeavor. It involves believing in the potential of ideas and pursuing them past ideation and concept development. These young entrepreneurs, inspired by family, academics, social trends, and events, have one thing in common: They found an opportunity and seized it—which is the true essence of entrepreneurship.

Times Reporter. " Young Entrepreneur Hart Main, 17, Owns Successful Candle Business ."

Beaver Creek. " Mancans ."

NFIB. " NFIB 's 2015 Young Entrepreneur of the Year Award Winner: ManCans LLC ."

Brown Girls. " Brown Girls Stationery ."

Ryan's Recycling Company. " Shop ."

Pacific Marine Mammal Center. " Pacific Marine Mammal Center ."

Ryan's Recycling Company. " About ."

Ryan's Recycling Company. " Rep. Mike Levin Celebrates Earth Day by Honoring Local Environmental Ryan Hickman as April Constituent of the Month ."

Ryan's Recycling Company. " Project 3R ."

Imagiroo. " Lily Had an Idea ."

Imagiroo. " About ."

Fundly. " KikisKindnessProject ."

Mikey Knows Biz. " The Kid Who Knows the Biz ."

Mo's Bows. " Dial Up Your Debonair ."

Mo's Bows. " Meet Moziah ."

LinkedIn. " Moziah Bridges ."

The New Indian Express. " At 10, This Chennai Girl Is a Chef and an Entrepeneur. Here's Her Story ."

Four Seasons Pastry. " Four Seasons Pastry by Vinusha MK ."

Power Pony. " Order Your Power Pony Today ."

LinkedIn. " Epoch 5 Public Relations ."

SuperJam. " The SuperJam Story ."

Forbes. " The First Million: Fraser Doherty ."

SuperJam. " SuperJam Home Page ."

Fraser Doherty. " Fraser Doherty, The Adventures of Jam Boy ."

Nolo. " Do LLC Members Need to Be 18 Years Old (Or Older)? "

Gent. " Meet Hong Kong's Youngest Entrepreneur ."

Latin American Post. " Hillary Yip, at 15 years old, is the youngest CEO in the world ."

essay about young entrepreneurs

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Researchers examine the secrets of successful young entrepreneurs.

The Stanford Center on Adolescence, led by Bill Damon, has teamed up with researchers at Tufts University to learn how we can effectively foster enterprising skills among adolescents and young adults.

Prof. William Damon

School of Education News By Brianna Liang and Amy Yuen

The passing of Apple CEO Steve Jobs last fall has inspired a flurry of speculation about the roots of his entrepreneurial success. How do some entrepreneurs like Jobs develop their abilities to succeed at a young age? And how can we foster these enterprising qualities among young people? These are questions that the Young Entrepreneurs Study (YES) project has been investigating. YES, a three-year, longitudinal study on entrepreneurship development among young adults, is a partnership between the Stanford Center on Adolescence and the Institute of Applied Research in Youth Development at Tufts University. The John Templeton Foundation has provided support to the project with a $2 million grant.   YES examines how entrepreneurial purpose, achievements, character attributes, and skills are developed among diverse adolescents and young adults in the U.S. It seeks to identify the cognitive, motivational, behavioral, and environmental factors that help individuals develop enterprising skills. “Entrepreneurship is a proven pathway to prosperity and freedom,” said Principal Investigator William Damon , director of the Stanford Center on Adolescenc e and a professor of education at Stanford University. “Yet little is known about how individuals develop such capacities during the years of youth and young adulthood, when entrepreneurship skills are often acquired. Without knowledge about how entrepreneurship abilities develop, efforts to create effective educational programs to foster entrepreneurial skills in young people will be limited in their effectiveness.” Researchers are studying the development of entrepreneurship among over 4,000 youth from ages 15 to 27 over a three-year period. A wide range of racially, ethnically, and socioeconomically diverse youth are participating from the Bay Area, the greater Boston area, and the Muncie, Indiana area. These areas were chosen for their diverse demographics, as well as for the presence of either general postsecondary educational institutions, or institutions focused on the enhancement of entrepreneurship. Researchers will employ measurement models that assess youth entrepreneurial purpose and achievement, qualities of character and other attributes associated with youth entrepreneurship, as well as social support and mentoring. The investigators will employ the Bundick, et al. (2006) Stanford Youth Purpose Survey, a measure developed in Damon’s laboratory during a prior John Templeton-foundation supported project. In addition to this quantitative measure that will be administered to the entire sample, 32 subjects will participate in an interview sub-sample in order to provide a more elaborate qualitative understanding of entrepreneurial purpose and achievement. Damon and other researchers hope that the results of the study will enable educators and business leaders with information about how to promote entrepreneurship achievement in adolescents and young adults from diverse backgrounds, including those who have grown up in disadvantaged settings. “The fields of developmental science, economics, and education have not provided a lot of information about how entrepreneurship develops,” added Co-investigator Richard Lerner , the Bergstrom Chair in Applied Developmental Science at Tufts University and director of the Institute for Applied Research in Youth Development at Tufts. “We hope that YES will provide the empirical data needed for providing this understanding and for creating effective educational programs and policies designed to foster entrepreneurship interests and achievements among diverse youth.” For more information about the Stanford Center on Adolescence and the Youth Entrepreneurship Study, visit http://coa.stanford.edu .  

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So You Want to Be an Entrepreneur?

  • Emily Heyward

essay about young entrepreneurs

One founder’s advice on what you should know before you quit your day job.

Starting a business is not easy, and scaling it is even harder. You may think you’re sitting on a completely original idea, but chances are the same cultural forces that led you to your business plan are also influencing someone else. That doesn’t mean you should give up, or that you should rush to market before you’re ready. It’s not about who’s first, it’s about who does it best, and best these days is the business that delivers the most value to the consumer. Consumers have more power and choice than ever before, and they’re going to choose and stick with the companies who are clearly on their side. How will you make their lives easier, more pleasant, more meaningful? How will you go out of your way for them at every turn? When considering your competitive advantage, start with the needs of the people you’re ultimately there to serve. If you have a genuine connection to your idea, and you’re solving a real problem in a way that adds more value to people’s lives, you’re well on your way.

When I graduated from college in 2001, I didn’t have a single friend whose plan was to start his or her own business. Med school, law school, finance, consulting: these were the coveted jobs, the clear paths laid out before us. I took a job in advertising, which was seen as much more rebellious than the reality. I worked in advertising for a few years, and learned an incredible amount about how brands get built and communicated. But I grew restless and bored, tasked with coming up with new campaigns for old and broken products that lacked relevance, unable to influence the products themselves. During that time, I was lucky to have an amazing boss who explained a simple principle that fundamentally altered my path. What she told me was that stress is not about how much you have on your plate; it’s about how much control you have over the outcomes. Suddenly I realized why every Sunday night I was overcome with a feeling of dread. It wasn’t because I had too much going on at work. It was because I had too little power to effect change.

essay about young entrepreneurs

  • EH Emily Heyward is the author of Obsessed: Building a Brand People Love from Day One (Portfolio; June 9, 2020). She is the co-founder and chief brand officer at Red Antler, a full-service brand company based in Brooklyn. Emily was named among the Most Important Entrepreneurs of the Decade by Inc.  magazine, and has also been recognized as a Top Female Founder by Inc. and one of Entrepreneur’s Most Powerful Women of 2019.

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Essay Samples on Entrepreneurship

What is entrepreneurship in your own words.

What is entrepreneurship in your own words? To me, entrepreneurship is the art of turning imagination into reality, the courage to chart unexplored territories, and the commitment to leave a lasting mark on the world. It's a journey of boundless creativity, relentless innovation, and unwavering...

  • Entrepreneurship

What is Entrepreneurship: Unveiling the Essence

What is entrepreneurship? This seemingly straightforward question encapsulates a world of innovation, risk-taking, and enterprise. Entrepreneurship is not merely a business concept; it's a mindset, a journey, and a force that drives economic growth and societal progress. In this essay, we delve into the multifaceted...

Social Entrepreneurship: Harnessing Innovation

Social entrepreneurship is a transformative approach that merges business principles with social consciousness to address pressing societal challenges. This unique form of entrepreneurship goes beyond profit-seeking and focuses on generating innovative solutions that create positive change in communities. In this essay, we explore the concept...

Evolution of Entrepreneurship: Economic Progress

Evolution of entrepreneurship is a fascinating journey that mirrors the changes in society, economy, and technology throughout history. From humble beginnings as small-scale trade to the modern era of startups, innovation hubs, and global business networks, entrepreneurship has continuously adapted to the dynamic landscape. This...

Importance of Entrepreneurship: Economic Growth and Societal Transformation

Importance of entrepreneurship transcends its role as a mere business activity; it stands as a driving force behind innovation, economic growth, and societal transformation. Entrepreneurship fosters the creation of new products, services, and industries, while also generating employment opportunities and catalyzing economic development. This essay...

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Entrepreneurship as a Career: Navigating the Path of Innovation

Entrepreneurship as a career is a compelling journey that offers individuals the opportunity to create their own path, shape their destiny, and contribute to the economy through innovation. While the road to entrepreneurship is laden with challenges and uncertainties, it is also marked by the...

Corporate Entrepreneurship: Fostering Innovation

Corporate entrepreneurship represents a strategic approach that empowers established organizations to embrace innovation, take calculated risks, and explore new opportunities. In an ever-evolving business landscape, the concept of corporate entrepreneurship has gained prominence as companies seek to maintain their competitive edge and adapt to changing...

Challenges Faced by Entrepreneurs: Innovation and Success

Challenges faced by entrepreneurs are a testament to the intricate journey of turning visionary ideas into tangible realities. While entrepreneurship is often associated with innovation and opportunity, it's also characterized by a multitude of hurdles and obstacles that test an entrepreneur's resilience and determination. In...

300 Words About Entrepreneurship: Navigating Innovation and Opportunity

About entrepreneurship is a dynamic journey that involves the pursuit of innovation, creation, and the realization of opportunities. It is the process of identifying gaps in the market, envisioning solutions, and taking calculated risks to bring new products, services, or ventures to life. Entrepreneurs are...

Best topics on Entrepreneurship

1. What is Entrepreneurship in Your Own Words

2. What is Entrepreneurship: Unveiling the Essence

3. Social Entrepreneurship: Harnessing Innovation

4. Evolution of Entrepreneurship: Economic Progress

5. Importance of Entrepreneurship: Economic Growth and Societal Transformation

6. Entrepreneurship as a Career: Navigating the Path of Innovation

7. Corporate Entrepreneurship: Fostering Innovation

8. Challenges Faced by Entrepreneurs: Innovation and Success

9. 300 Words About Entrepreneurship: Navigating Innovation and Opportunity

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Ideas and Inspiration from STVP, the Stanford Engineering Entrepreneurship Center

Pros and Cons of Being a Young Entrepreneur

What are the biggest obstacles and assets for young entrepreneurs? Unwrapped, inc. founder Josh Reeves answers that the biggest obstacle it not knowing how to manage all the priorities. Clara Shih, founder of Hearsay Labs, believes that being a young entrepreneur has its advantages because you can highlight your ability to solve problems from a fresh perspective. Steve Garrity, of Hearsay Labs, says that youth allows you to ask lots of seemingly naive questions. Plus, Increo Solutions, Inc. founder Kimber Lockhart adds that starting a business is challenging for everyone, not just young entrepreneurs. Don’t assume that older, first time entrepreneurs have all the answers.

Video clips from: Panel of Young Entrepreneurs [Entire Talk]

Reasons to start a company, part 1, reasons to start a company, part 2, to raise money or not, part 1, to raise money or not, part 2, technical degree versus a business degree, how to find customers.

essay about young entrepreneurs

The Ethics of Innovation [Entire Talk]

Video clips.

essay about young entrepreneurs

Leadership in a Digital World

The duty of digital leaders, ethics in emerging technologies, disproportionate job displacement.

essay about young entrepreneurs

A Brainy Approach to Innovation [Entire Talk]

essay about young entrepreneurs

Embodying Innovation

Mind control of machines, pivoting toward impact, automating legal consulting, confessions of a ‘cyber-optimist'.

essay about young entrepreneurs

Taking a Lead From Tech [Entire Talk]

essay about young entrepreneurs

‘What Would Different Look Like?'

Realities of startup life, essential but unsung skills, a blank invitation, choose your peers wisely.

Entrepreneur Interviews

Business Advice

10 advantages and 10 disadvantages of young entrepreneurs 0.

essay about young entrepreneurs

Young entrepreneurs possess inherent advantages in rolling out their products and services – think back to the 20-something genius of two future billionaires: Mark Zuckerberg, Facebook’s founder, and Sara Blakely, the visionary of Spanx undergarments. But youth has its downsides, too. Here’s a look at 10 pros and 10 cons for aspiring entrepreneurs who have yet to sprout gray hair.   

10 Advantages of Young Entrepreneurs  

  • Their risk is lower. A young entrepreneur is unlikely to suffer either an unrecoverable financial disaster or permanent reputational consequence from a failed venture. He or she is probably toiling in obscurity without putting up significant collateral for a loan. Young entrepreneurs aren’t worried about building a college fund for their kids or a retirement plan for themselves.
  • Family and friends are supportive. Parents, siblings, extended family, and school pals might invest in the dream of someone they view affectionately. They might cover the entrepreneur’s health and car insurance costs; they might pony up a structure such as a garage or guest room for the start-up. And they may be willing to house and feed the idealist while kicking in some cash for incidentals such as transportation, cell phone and internet fees. In addition, they offer emotional support as cheerleaders and sounding boards.  
  • They’ve got time. Young entrepreneurs can devote close to 100 percent of their waking hours (if unemployed) or nearly all of their non-day-job, non-sleep hours (if employed) to a passion project in hopes it will lead to a full-time career and lifelong satisfaction.
  • They can hire young employees. They can tap like-minded contemporaries to work within a creative culture. Long hours go with the territory of a start-up, but the allure for everyone is building something unique and having an ownership stake – along with the bragging rights that you were there from the get-go.
  • Costs are lower. Young entrepreneurs will sacrifice physical comforts (working in less-than-ideal temperatures in a cheap location, for instance) and make little money during the start-up phase. Ramen soup can be a supper staple. Work uniforms can be jeans and T-shirts. They’ll use social media for advertising and customer relations.  
  • Business innocence can be a plus. Sometimes when people lack the background to know something is pretty much impossible, they make the attempt and score a miraculous success. When Samuel Adams Boston Brewery was in survival mode, founder Jim Koch famously opted to concentrate solely on sales; he would worry later about producing proper financial paperwork. Naïve, perhaps, but the strategy worked for him and has worked for others.
  • Learning is simplified. Cheers to the internet! YouTube videos and TED Talks materialize within seconds. Have questions? Expert answers arrive quickly after queries via social media, live chats, text messages, email, and that old standby, the telephone – because contact information is easily found. For an old-school tactic, almost any book (the Dummies series and Idiot’s Guides are terrific) can be delivered within a couple of days.
  • There’s tolerance for failure. In the millennium, respected thought leaders insist it’s OK – even desirable – to fail fast and fail often, and then rebound with a better idea. No one says, “You should’ve known better.” Young entrepreneurs’ stumbles are likely to be excused. And besides, the entrepreneur learns from his or her mistakes.
  • Enthusiasm abounds . Think about sports fans’ zeal for body paint, weird costumes and dyeing their hair in team colors. Think about the willingness to humble oneself singing karaoke. Go-for-it-all attitudes play well in pitches for start-up capital and the need to work 18-hour days and persevere through setbacks.  
  • Staying up-to-date is easier. As with No. 7 above, vital information is ready to be mined by a few keystrokes and mouse-clicks – or even voice commands – “Hey, Siri!” News, techie, business and blog websites abound.

10 Disadvantagesof Young Entrepreneurs   

  • They lack experience running a business. Laws about wages and overtime, employee health, company policies, tax considerations, and other financial and human-resources legalities can bite now or later, with serious consequences.
  • Financial backing can be an uphill battle. Investors are hesitant to shower big bucks on someone with no track record and no assets or collateral. 
  • They have few or no business connections. When every sales call is a cold call, it’s tough to get past the gatekeepers at first and close a sale later. The negativity does a beat-down on the entrepreneur’s morale. And even when the deal is done, there’s the problem of getting paid: The little guy can be last to receive payment in tough economic periods because the customer knows a struggling start-up company may have the least resources for collecting. 
  • Customers may be slow to trust young entrepreneurs. Potential clients, like potential investors, will fret over throwing money at the new kid. 
  • They’re not focusing on school. OK, so Bill Gates didn’t finish college and he’s not hurting. But he’s an exception and knows it – he has sent his kids to top schools, Stanford University among them. The average software, robotics or math nerd probably disdains silly stuff like writing a persuasive essay (with correct spelling and punctuation), delivering a speech, learning business etiquette or understanding behavioral psychology. But those topics help build a well-rounded person who can tactfully fend off objections after a sales pitch, comfortably rub elbows with venture capitalists, compose an effective email, and manage a talented but challenging employee.
  • Big contracts will be elusive. This dovetails with No. 4 above. Until the entrepreneur builds a reputation and history for delivering on promises, clients are likely to stay in the sample phase of the buying relationship, dipping in a toe but not taking a major plunge.
  • They may have problems managing personnel. Inexperienced leaders may be unable to create their desired workplace culture. Or they may have trouble dealing with difficult workers – for example, employee defensiveness after constructive criticism, personality conflicts among staff, and deploying talent in the ways it will pay off best for the company’s long-range benefit.
  • Even trivial tasks might be difficult. In a company’s early days, entrepreneurs may have to split their focus to serve as plumber, barista, electrician, counselor, recruiter and janitor, which at times will sideline their preferred work of concentrating on the Big Idea. They must do payroll and pay bills on time. Documenting a process so it can be replicated by clients might be difficult when the founder is a technical genius but not much of a communicator. It’s crucial to be able to shift gears between skill sets and between mundane tasks and high-level concepts. With maturity comes the crucial ability to know your weaknesses and compensate for them, delegating as needed. 
  • Self-discipline may be in short supply. While there’s the eagerness to try many new things and a reluctance to tell people no, these tendencies can translate to a scattershot approach instead of the single-mindedness that’s crucial for putting a project in the win column. 

10. Work-life balance is sacrificed. All work and no play is, well, no fun. Slackers aren’t cut out for taking an initial raw concept to marketplace perfection. Nope, it takes dogged effort. This means forgoing a three-day video-game tournament if a big order is due on Tuesday as well as telling friends no to beer pong when a sales pitch is scheduled for 8 a.m. the next day. 

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Exploring Social Entrepreneurship: ‘My Generation Is Full of Activists and Humanitarians’

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Knowledge@Wharton High School first met Fiorella Riccobono in 2015 when she was a senior in high school. We featured her in a story about a business class project to promote fair trade practices among Haitian coffee farmers. Now Riccobono, who is 19, is a college student studying finance and interdisciplinary social science with concentrations in economics and social entrepreneurship. In this personal essay, Riccobono talks about how and why she is embracing her calling to become a bold and tenacious change maker.

I just completed my freshman year of college at Florida State University (FSU), and in many ways I am feeling transformed. When you first step foot onto your college campus, the feeling is incredible. You have a sense of personal freedom that you have never experienced. In college, you start to explore your major based on your passion and build the necessary classes and curriculum to earn your degree. Now imagine that the major you chose is an emerging field in the business world. Imagine that it is a new program at your school, and imagine just how much room for growth that opportunity means for you.

That chosen field for me is social entrepreneurship. I fell in love with social entrepreneurship a few years ago when Mrs. Zocco, my business teacher at Edward A. McCarthy High School in Florida, showed me a video of the most genuinely happy and grateful man I had ever seen. He was one of the farmers participating in a fair trade coop in Haiti that our class was helping to run, and his smile was amazing. He was thanking us because now, through fair trade – which in this case was helping coffee farmers in Haiti’s poorest region earn a just wage for their very hard work — his children had enough money to go to school. Since that moment, I have been driven to learn all I can about social entrepreneurship and how to make it my life’s work.

Leaving the World a Better Place

Many of us want to be extraordinary, to be change makers and to make positive and influential contributions to society. I have discovered that my generation is full of activists, humanitarians and philanthropists. No matter our passions — education, health, environment, economic development — many of us share a common goal: to leave this world a better place than how we found it. I’ve gathered inspiration from the stories of famous social-justice advocates around the world, like Muhammad Yunus, who created the concept of microfinancing, and Malala Yousafzai, who advocates for women’s education. Both Muhammad and Malala are recipients of the Nobel Peace Prize.

Social entrepreneurship is such an emerging concept that it is still not clearly defined. Most importantly, though, it is not charity. Although social entrepreneurs may need to rely on donations to launch their endeavors, they can’t create a business model based on donations, because charity is not sustainable. How can you build a business when you don’t know where your next dollar is coming from – or when?

In my experience, social entrepreneurs are individuals who draw on innovative business tactics to create solutions to societal issues. Social entrepreneurs combine government, nonprofit and traditional business practices in order to create a sustainable business model that is not only profitable, but also beneficial to the social sector. These innovators create large-scale, systemic and sustainable models by addressing a societal issue at its foundation – poverty, climate change, pollution, whatever it may be. Social entrepreneurs do not have an idea and then apply it. Instead, they go directly to the source of the issue and ask what is needed. Based on that answer, they build their business plans. Social entrepreneurs are often empathetic, bold, open-minded and tenacious.

So, that first day I stepped onto campus, I was more than ready to begin the next phase of my social entrepreneurship journey. The social entrepreneurship culture at Florida Sate University is growing rapidly. Early freshman year, I met Valarie Rodriguez, who wanted to start the Social Entrepreneurs and Innovators Club at FSU. I was the first person to join the team, and since then two of our board members have created social enterprises that are thriving within the Tallahassee community. Ramon started Unhoused Humanity, which uses crowd funding to help working homeless citizens make the down payment to get into a home. Often, the working poor do not have enough money saved up to make the hefty down payment needed for renting living space — typically first and last month rent and security and utility deposits. But they do generate enough income to pay their monthly rent once they are in. Unhoused Humanity helps the homeless get over that initial down-payment hurdle.

Another one of our members, Nikolas, has started Qultur. Qultur’s purpose is to use art to decrease crime in communities. Qultur creates and finds financing for events that bring together local artists, businesses and community members with the premise, “When we support and trust each other, we can live in harmony.”

Launching a social entrepreneurship club feels a bit like starting your own business. You have to find funding, promote your mission, explain the concept, and get people invested in your passion. I recruit local entrepreneurs to come speak at our events, plan those events, find funding and sponsors, and educate people on all aspects of social entrepreneurship.

I am getting hands-on social entrepreneurship experience in other ways, as well. The spring semester of my freshman year, I interned with a local fair trade coffee shop in Tallahassee. During that time, my team of interns created a micro social enterprise using the coffee shop’s food truck. We were trained as baristas and innovators and were responsible for creating a business model that would be profitable, while also maintaining a social mission.

We researched local areas and events and chose where to take our “fair trade” truck, what beverages we should make, and handled the actual food truck operations . We were the first group of interns to ever break even and create profit for this program. Our business model – like many other social enterprises — addressed a triple bottom line: people, planet and profits. The model had three key features: first, the coffee we brewed was purchased from small farmers who were paid a fair price through certified organic cooperatives. The coffee farms were bird-safe and shade-grown to ensure the organic coffee was environmentally sound. (Coffee farmers sometimes take strides to grow coffee in sunnier settings because it is faster; however, this often damages the biodiversity of the region.) And finally, the coffee shop placed all our profits in local and global humanitarian causes, truly addressing the triple bottom line.

Helping the Homeless

It is immensely inspiring to be part of a community where social justice is a priority. It is motivating to be surrounded by young individuals who are not only incentivized by profit, but by creating systemic change. I believe social entrepreneurship is the future of business and policy making. People are no longer seeing global poverty as a call for charity, but as a place of economic and cultural growth. Young business minds no longer want to exploit our natural resources, rather build business models that protect our environment.

The best advice I can give to incoming freshmen at any school is to be empathetic, bold, open-minded and tenacious. You are about to be exposed to a world of information, opportunity and incredible curiosity. I am as passionate as ever about my social entrepreneurship future. This fall, with the help of my club members, I will be starting a research project at a local homeless shelter. My plan is to speak personally with members of the homeless community in Tallahassee in order to better understand their backgrounds, prior education, work experience and willingness to rejoin the workforce. I want to use this quantitative data to possibly identify a pattern in homelessness. By pinpointing the need, I can create meaningful solutions.

My ultimate goal is to launch a program that rehabilitates the homeless community and reengages homeless people as active, contributing members of society. My heart tells me that many of them want to improve their circumstances, but need the proper channels for lasting change. I’m not sure how this will all play out, but I have little doubt that we are laying the foundation for something truly extraordinary.

Related Links

  • RedEye Mobile Cafe
  • NY Times: The Rise of the Social Entrepreneur
  • K@W Video: Muhammad Yunus: Lifting People Worldwide Out of Poverty
  • FSU Social Entrepreneurship
  • Unhoused Humanity

Conversation Starters

Fiorella Riccobono stresses that social entrepreneurship is not charity. What does she mean by this? Why does she make this important distinction?

Using the “Related KWHS Articles” and “Related Links” tabs, find out more about Malala Yousafzai and Muhammad Yunus. How have they made an impact on the world? Can you think of any other social-justice champions whose missions inspire you?

Fiorella says, “I believe social entrepreneurship is the future of business and policy making.” Do you agree? Why or why not?

200 comments on “ Exploring Social Entrepreneurship: ‘My Generation Is Full of Activists and Humanitarians’ ”

Fiorella Riccobono stressed that social entrepreneurship is not charity. She wanted the readers to understand the difference between social entrepreneurship and social services, which I believe readers should give certain importance. As a reader, I feel that I have understood the relation between social entrepreneurship and charity. This distinction plays a role in opening the minds of the readers in defining other facets of social entrepreneurship.

I agree, because many people don’t know the difference between social entrepreneurship and social service. In the social entrepreneurship, you gain money and it is very different than a charity

Social entrepreneurship is where you start companies and develop a fund for some type of environmental issue. Fiorella Riccobono does gain money, but it is for a cause. Fiorella Riccobono donates money to the homeless community because they want to improve their circumstances. I agree as well, that many people don’t know the difference between social service and social entrepreneurship. Unhoused Humanity helps the homeless get over that initial down-payment hurdle. When you are in Social entrepreneurship, you are exposed to a new world of information and technology.

Social entrepreneurship and charity overlap in many fields (helping the homeless, for example); however, charity fosters a feeling of dependence in its recipients. Knowing this, many are scared away from the field. If social entrepreneurs are looking to make a difference, they must set themselves apart from well-established foundations and philanthropy.

1. Fiorella Riccobono stresses that social entrepreneurship is not charity. She is correct. Social Entrepreneurs run a business. While they are more empathetic because their helping the social sector by solving global and humanitarian issues, they ask what is needed and then base their business plan around that. They make a profit while contributing to society. 2. Muhammad Yunus won the Nobel prize for founding the Grameen bank which aided a lot of people with financial structure. Malala Yousafzai fought for women’s education in Pakistan. 3. I agree that social entrepreneurship is the future of business because it builds a good reputation, which is important for an enterprise, while simultaneously making a profit.

1. Fiorella believes that donations are essential, however it can’t create business models because charities are not sustainable. A sustainable business is not only profitable, it has to be beneficial. They want to solve issues and make the business better. Businesses want to fix social issues as well as enviornment issues.

2. Yuman won the noble peace prize and helped people with finances, Malala wanted education for women in Pakistan

3. I agree with social entrepreneuership because it builds a businesses reputation

1. Fiorella Riccobono believes that it is not charity because she is trying to point out to the reader that social entrepreneurship is not a charity, as a charity is not sustainable, because you can’t control the influx of money. She means that social entrepreneurship can last over a long period, and has to be sustainable in order to help the most people possible.

2. Malala and Muhammad inspire the world. Malala inspires women to be educated, even in countries where women are not educated. She wrote a book of her injury, when she was shot by an Islamic group. Muhammad inspires young leaders globally. Also, he won a Nobel Peace Prize for his work on social entrepreneurship. Another social justice champion that I admire is Oprah. She broke barriers by being one of the first black female millionaires in the United States. She also established an empire.

3. I believe that entrepreneurship offers a hopeful way to guide society. This helps people who have less money and in third world countries.

1) Fiorella Riccobonno stresses that it is not charity because she is trying to point out to the reader that social entrepreneurship is not a charity, as a charity is not sustainable, because you cant control the influx of money. She means that social entrepreneurship is different than charity because social entrepreneurship can last over a long period, and has to be sustainable in order to help the most people possible.

2) Malala and Muhammad inspire the world. Malala inspires women to be educated, even in countries where women are not educated. She wrote a book of her injury, when she was shot by an Islamic group. Muhammad inspires young leaders globally. He also won a Nobel Peace Prize for his work on social entrepreneurship. Another social justice champion that I admire is Oprah Winfrey. She broke barriers by being very successful in her field of work, and her work in helping those less fortunate.

3) I believe that social entrepreneurship offers a hopeful way to help rehabilitate the community of people that are less than well off when it comes to their financial situation. Social entrepreneurship is a great way to give back to the less fortunate.

Fiorella Riccobono stresses that social entrepreneurship is not charity because because charity is not sustainable it cant support. she means that how can you build a buisness not knowing when your next pay is. she makes this important distinction so that she can inform the reader so that she gives a guideline. Malala Yousafzai is a pakastani actavist that emphasizes on women empowerment and how a group of people can make a change.

Fiorella Riccobono stresses that social entrepreneurship is not charity because although entrepreneurs may rely on donations they cant really create a business model based on it. She makes this important distinction because people may think that entrepreneurship is based on charity and donations when they are basically innovative business tactics to create solutions to social issues.

I Believe Riccobono stresses that social entrepreneurship isn’t charity so much because of how she wants to impact the world. If Social entrepreneurship was a charity, the problem would only at best get monetarily fixed. However, Social entrepreneurship targets to change the actual problem rather then just throw money at it.

I agree with Fiorella’s statement that social entrepreneurship is the future. Based on the information in this article it appears as though the goal of social entrepreneurship is to help fix the world’s problems. However, instead of simply creating a solution social entrepreneurship also finds ways tranform the issue into an opportunity for economic growth.

Social Entrepreneurship is not a charity because the business still makes money. They do help the community, but making money is a priority. This is an important distinction because she needs to stress the fact that the business still needs to make money. Fiorella does not want people to think that the are a charity that donates all their money.

When Fiorella Riccobono stresses that social entrepreneurship is not charity she means that its also a business and she makes money off it. This is an important distinction because she needs to stress the fact that its a business and she still needs to make money at same time as helping.

The way in which Fiorella explained how social entrepreneurship is not a charity is very educated and clear to understand. It is easy to agree with her statement on social entrepreneurship not being a charity even though it, in some cases, acts like one. For example when a business receives money from investor, it is similar to a charity receiving money from people to support the business. She makes a very good point in saying that a business cannot operate not knowing where they will get their next dollar. Another good point she makes that not everybody would think of is that if a business is running on donations, and donations alone, the business would not be able to create a business model since charity is not sustainable.

I do agree with her thinking, thanks to our generation of young people getting more interested in social matters and being more open minded. Nowadays, people is more intereste in social, environmental, and economical matters, therefore, making them more eager to get involved with our society . Social entrepreneurs will help in developing abetter society for our people

When Fiorella states that social entrepreneurship is not charity she means that social entrepreneurship is its own thing. She recognizes it as being something that can help many people, in many different places, for many different causes. As opposed to charity which is something that helps one cause, or raises money for something in specific. She makes this important distinction because she also realizes that the topic could be confusing for some who do not necessarily know the exact difference between the two.

Malala Yousafzai is a true hero, a legend, who will be remembered forever. She is a courageous leader who fights for women to be able to get an education. On October 9, 2012 she was shot by the Taliban and left in critical condition. She pushed through and from this tragic event that happened to her, she made her voice heard. Her story is touching and she now has her own foundation that advocates for womens’ rights worldwide. Muhammad Yunus is a social entrepreneur from Bangladesh. He is known for founding the Grameen Bank and developing the concepts of microcredit and microfinance. His objective was to put an end to poverty by giving out loans that were suitable to the people and teaching them some financial principles to help themselves. Not only did these two icons earn a Nobel Peace Prize Award, but they will also have an everlasting legacy for their keen, creative, and unique minds. Some other social-justice champions that I admire are Eleanor Roosevelt and Oprah Winfrey.

Fiorella Riccobono explains that social entrepreneurship is not charity. She goes on to clarify that social entrepreneurship is, in essence, using traditional business practices to create a sustainable business model that is not only profitable, but also beneficial to the social sector. Fiorella makes sure to note that charity is not sustainable and that a business model cannot run on donations alone.

Social entrepreneurship is definitely the future of business and policy making because it is a business enterprise not only focused in profitable gains and societal claims. Its significance is reflected on the demand of customers for business to have grater social objectives.

Fiorella says that social entrepreneurship is not charity because it can’t create a business based on donations. Social entrepreneurship creates solutions to societal issues. This is an important distinct because social entrepreneurship should be it’s own business/its own work. It is not a charity where anyone can help, social entrepreneurship helps other businesses to thrive.

Malala Yousafzai and Muhammad Yunus are both huge figure in the world for what they are and what they accomplished. The impact that they had on the world is different from one to another but both helped the humankind to be better. Another social-justice champion that had a mission that inspire me is Nelson Mandela, for what he forgive and what he accomplished.

3. I do believe social entrepreneurship is the future. It allows to have a business that is self sustainable and driven to help the community/planet without having this motivation for self gain. More and more people will start to realize that if we help the planet as a whole, then we will all benefit from it. Not only does it feel great to know that you’re helping people but also you get the satisfaction of helping the whole entire planet.

Personally, I believe that there is a quote that fits this article.

“If you give a man a fish, you feed him for a day. If you teach a man to fish, you give him an occupation to feed him for his lifetime.”

Charity can be given to someone and yes, it can help them, however it does not provide something long lasting. Giving people jobs, and a way for them to work in just conditions is how you can truly help people. A sustainable company that can support the people, support the environment, and still make a profit for more investment is a company that can help people. That is how you can truly help and make a impact. That’s the difference between social entrepreneurship and charity. One is sustainable and can sustain others.

Malala Yousafzai is Pakistani activguist who publicy campaigned for girls to go to school and won a Nobel YouthPeace Prize. Due to her popularity and exposure, the Taliban were after her. On October 9, 2012, a Taliban masked gunman boarded her school bus, and asked for her by name. The gunman shot her in the head, neck and shoulders. Malala survived the attack and is now a world famous activist for peace and girls in school.

Muhammad Yunus is a Bangladeshi entrepreneur that was awarded the Nobel Peace Prize for founding the Grameen Bank and creating microcredit and microfinance. He is working hard to help advocate a world without poverty.

According to “I believe social entrepreneurship is the future of business and policy making.” as Fiorella said, I agree that social entrepenueurships is the future of bussines annd policy making since entrepeneurs are going up and being more involved in the future policies as well as business

As far as social entrepreneurship being the future of business and policy making, yes, I agree with Fiorella. She has definitely made some interesting and realistic points. She believes that, given our generation and what that all have made a living out of, we all want to leave the world a better place than how we found it. Social entrepreneurship is saving poor regions with solutions such as fair trade and I agree that if you work hard to make that a part of your life work that it can make a difference.

Yes I do agree that, “social is the future of business and policy,” because not only does the entrepreneur make a profit, he or she also supports and helps local, small businesses which in turn helps all the people in a community. Social entrepreneurs need to be smart and innovative to find ways to make money, but still support the community. This benefits the social entrepreneur and the people they are helping. This can build innovative skills and social skills making are world communicate and making our world be together.

I agree with Fiorella when she says “I believe social entrepreneurship is the future of business and policy making.” because we are moving towards a more socially and environmentally cautious world. More and more companies are starting to deal with environmental issues. I t is likely that most future companies or enterprises will be helping raise money to help solve global problems from the start

Fiorella Riccobono stresses that social entrepreneurship is not charity because charity is not sustainable and relies on donations from people. Social entrepreneurship is when individuals use a variety of tactics and strategies to tackle societal problems. She makes this important decision because although they overlap in some areas, social entrepreneurs need to find ways to make their business profitable.

1. Fiorella Riccobono stresses that social entrepreneurship is not charity because in a social entrepreneurship, making money is part of the goal. It does help the community. However, unlike a charity, social entrepreneurship can be sustainable. They don’t base their business plan off of the donations they received but they use innovative ideas and plans. I believe she addressed the difference between the two to clarify that they are separate concepts and emphasize the difference between them.

Throughout the article, Fiorella Riccobono emphasizes on the idea that social entrepreneurship is not charity. Fiorella realizes many young people are willing to help but prevent them self from doing so due to the dependent nature of charity. Through using social entrepreneurship, one is not dependent on others to create a sustainable and reliable network to help those in need. This entices future business students who want to help while still utilizing the skills they have learned.

When Forella says “I believe social entrepreneurship is the future of business and policy making,” I agree with this statement because nowadays the world of business is becoming based off of networking and social elements. It is becoming more common that people want to go out and work on social projects and participate in the community. As this becomes more popular it will begin to become a business. It takes knowledge to turn social work into a business. However if done right, it can make the world a better place.

Social entrepreneurship and charity are two different businesses models. As Fiorella Riccobono says, charity is not a viable business plan that can make money. Social entrepreneurship triple bottom line is people, planet, profits. They want to help the world while making a positive change in the world while making a profit.

I agree with Fiorella’s statement that “social entrepreneurship is the future of business and policy making” because it gives companies the opportunity to give back to their community while making a profit. The upcoming generation of business owners want to leave the world better than they found it, and social entrepreneurship is the perfect opportunity to make a difference. I believe this is extremely beneficial to society and its members as it will also help shape the future generations to become successful leaders through international connections and job opportunities.

Fiorella, in the article, stated that social entrepreneurship is not charity. By stating this she means that charities will help gain money for a cause, but as a social entrepreneur, you have the opportunity to take your knowledge and make money and business. In the article, Fiorella states that “People are no longer seeing global poverty as a call for charity, but as a place of economic and cultural growth. ” If more people are able to gain that knowledge and share it, many people would be able to help more people at a constant rate. Charity is for one cause while social entrepreneurship can be for many.

Fiorella believes that social entrepreneurship is the future to business and policy, and I agree. Although, I would also argue that it is fundamental to today’s business and policy. This is so important because social entrepreneurship in other words is networking. These skills are important to meet others in the business world and expand upon your knowledge. If you have a wide range of connections you will have more opportunities to get jobs, knowledge in every field of business, and create a supportive business network in your working environment. After all you are not working next to computer all day, but next to people that are similar to you!

Fiorella makes the distinction between social entrepreneurship and charity. This is an important distinction because money in a charity flows in one direction. Conversely, money in a social enterprise flows both ways. Social enterprises cannot be charities because they are businesses, and need money to operate. Compared to traditional businesses, though, social enterprises are conscientious about the environmental and social impacts of their actions.

I agree with Fiorella when she claims that social entrepreneurship is the the future success of business and policy making. It doesn’t only help people who already have good conditions of life but it also financially helps those in need and who can’t afford much money. Entrepreneurs can make a lot of profits and invest their money on themselves and the community on where they which can benefit everyone.

The reason Riccobonno made the distinction between social entrepreneurship and charity is because some people don’t understand that social entrepreneurship is in fact a business and relies on more than just donations. In any business it is important to know where and when your money is coming from. Without the knowledge of when you will have money you can not make financial investments or take risks. If your business is not sustainable and it goes bankrupt it will not be able to help anyone.

Fiorella Riccobono stresses that social entrepreneurship is not charity because you cannot created a business based off of donations. Social entrepreneurship makes solutions to social issues.

I agree with Fiorella that social entrepreneurship because it will help many people.And to help the environment and the community.

Fiorella Riccobono stresses that social entrepreneurship is not charity. She focuses about this topic because she wants the reader and society to have the understanding of the difference between entrepreneurship and charity. An entrepreneurship may help and change many people, with different causes or problems, at different situation. A charity is help for a certain person or situation. She wants to make a change not throw money at it and have the problem fixed momentarily.

1. Fiorella Riccobono believes that social entrepreneurship is about making the world a better place. Charity is a completely different subject. Though, they do share a common goal. Malala Yousafzai held a campaign for girls to get an education at school. Muhammad Yunus won the Nobel Peace Prize for social entrepreneurship. They are an inspiration to society. I believe in Fiorella’s point of view. Social entrepreneurship is the future of business. It well help us grow and develop as a person. As well as create opportunities for many in creating a difference.

What Fiorella Riccobono stresses about social entrepreneurship not being charity is that it doesn’t have the ability to launch a business solely based from donations. This is not able to support a fully working business. The charity people give is meant to last a bit, it does not have the ability to make a business work for a long period of time. She makes this important distinction so readers can see the difference between a business that can support itself vs a business that runs on charity.

I agree that social entrepreneurship is the future of business. I believe this because we need to look out for others. There are many people in this world that are self centered and don’t think about others. We need to make sure we take care of others and make sure no one is left behind.

Business entrepreneurship is not charity basically because social entrepreneurs may need to rely on donations to launch their endeavors and making money is part of the goal.

When Fiorella Riccobono states that social entrepreneurship is not charity, she means to create the idea that social entrepreneurship is stable and a dependable new business worth taking part in. She makes this distinction because she wants it to be clear that although it shares a similar idea with charity, it is not only about helping the people but also the planet and business world of the future.

There definitely is a big difference between social entrepreneurship and charity. What Fiorella Riccobono means when she makes this distinction is to not think of social entrepreneurship as the same because of the many differences it has with charity. For example, charity can be looked at as a way to help one specific problem only one time. What she tries to make out of social entrepreneurship is that it helps more than one cause, it is more of a broad way of helping. Also it can shape a better lifestyle for people while charity can only help in one specific way. Giving someone money is not as big of a deal as giving a person a job to consistently earn money. Fiorella makes the distinction so readers know the way that she helps people, by setting a better road for the rest of their lives.

Social entrepreneurship is the future of the business and policy making because it is a way for entrepreneurs to not only make a profit but helps out the community and support their new ideas. And it is a smart way for people to come together as a community and do many great things together.

Fiorella Riccobonno stresses that it is not charity because she wants the reader to be aware that a charity isn’t sustainable because you don’t know where your next dollar comes from, in contrast with social entrepreneurship that is the process to earn profits while helping other people.

[3.] When considering Ms. Riccobono’s statement, “I believe social entrepreneurship is the future of business and policy making.”, I am reminded of the importance of working with non-profit, government, and traditional business, when working towards startling a successful and innovative business. I agree that social entrepreneurship is an important aspect thats importance will become increasingly apparent as time goes on. Using the policies and beliefs that fall under this category, I believe these thing will change the future of business management and development.

Fiorella Riccobono emphasizes a difference between social entrepreneurship and charity. She highlights that in a social entrepreneurship, the owner cannot solely depend on donations in order to maintain the business plan and model to a profitable amount. She makes this distinction because all social entrepreneurships create profit, whereas charities, specifically non-profit organizations, do not.

Ms. Riccobono had her opinion about the meaning of Social Entrepreneurship, in which she thought that it is not charity at all. She stated that making money is the desired outcome, while as compared to charity it is also stable and/or sustainable. She wanted to clarify the actual difference between the two, explaining it through the expression of her own opinion.

-Fiorella Riccobono believes that it is not charity because, she is trying to tell the reader that social entrepreneurship is not a charity, as a charity is not sustainable, because you can’t control the influx of money. She means that social entrepreneurship can last over a long period, and has to be sustainable in order to help the most people possible.

-Malala and Muhammad inspire the world. Malala inspires women to be educated, even in countries where women are not educated. She wrote a book about the injury that she had injury, when she was shot by an Islamic group. Muhammad inspires young leaders globally. Also, he won a Nobel Peace Prize for his work on social entrepreneurship. Another social justice champion that I admire is Oprah. She broke barriers by being one of the first black female millionaires in the United States. She also established an empire.

-I do believe social entrepreneurship is the future. It allows to have a business that is self sustainable and driven to help the community/planet without having this motivation for self gain.

Fiorella Riccobono stresses that social entrepreneurship is not charity. What does she mean by this? Why does she make this important distinction? She wants the distinction to be clear that social justice in businesses for employees isn’t a charity, and that it’s an obligation for workers to be treated/paid fairly. She strives to make a community where social justice is a priority. Using the “Related KWHS Articles” and “Related Links” tabs, find out more about Malala Yousafzai and Muhammad Yunus. How have they made an impact on the world? Can you think of any other social-justice champions whose missions inspire you? Malala aimed for the education of all women in the world, even in countries where they aren’t educated. Muhammed inspired young entrepreneurs around the world. Fiorella says, “I believe social entrepreneurship is the future of business and policy making.” Do you agree? Why or why not? I agree, social justice calls for fairness in business with helping the homeless, being able to assist those in need, and policy wise making work better/ more efficient for employees/

I agree with Florella in believing that social entrepreneurship is the future. Social entrepreneurship is a useful tool to help the community while still making money in the proccess. Being a social entrepreneur allows said entrepreneur to help the people with less money while being able to maintain profit in the proccess.

Fiorella stresses a good point about social entrepreneurship because the businesses that are focused on being run like this are also making an enormous impact on different societal issues while benefiting as a business as well. That being said, theses businesses are definitely not like charities. She makes the distinction between the two because i’m sure the first thing many people think of when they hear about “social entrepreneurship” is charity. Social entrepreneurship is definitely going to take over in the future because it is a great way for businesses to thrive while also having a positive impact on society and the world.

Fiorella Riccobonno stresses the fact that social entrepreneurship is not charity because she wants the reader to understand the difference between social service and social entrepreneurship. Social entrepreneurs are also businessmen and run a business that also helps others.

Social Entrepreneurship is not a charity. It is not a charity because the business still makes money. They do help the community, but making money is the main/top reason. This is an important because she needs to continue stressing the fact that the business still needs to make money. Fiorella helped the people because she paid them more than what they were getting paid.

When Fiorella Riccobono stresses that social entrepreneurship is not charity, she means that the business cannot rely on donations. It would obviously help the business if donations come to them, but the business model cannot be built by just donations. Charity is not sustainable, which means that a certain business can’t survive on donations. Social entrepreneurships are meant to solve societal issues and that is what she is trying to do.

I believe social entrepreneurship is the future of business and policy making because the world is becoming more and more social. Whether it is through social media or just talking to people, people get ideas from other people who get ideas from other people. Nowadays so many people believe they want to be an entrepreneur and its possible because there are so many places to start a business.

Fiorella Riccobono stresses about social entrepreneurship not being charity and that it is not going to be able to launch a business solely based from donations. This is not able to support a fully working business. The charity people give is meant to last a bit, but it does not have the ability to make a business work or last for a long period of time. She makes this important distinction so readers can see the difference between a business that can support itself vs a business that runs on charity.

Fiorella Riccobono stresses that social entrepreneurship is not charity. What does she mean by this? Why does she make this important distinction? She means that she believes a business is not sustainable by donations. On the other hand, charities are 100% sustained by donations. A business is very costly and it cannot be held by a thread or sustained by chance or luck. Starting a business, one wants to know that his or her business has an opportunity of thriving and growing. When one finds out someone is donating, the donation most of the time arrives that same day. In businesses, one has to know where the next dollar is coming from ahead of time. If a business is failing a backup plan needs to be formed, it cannot just sit around and hope for a miraculous donation.

I agree that social entrepreneurship is the future of business because it is a great way to give back to the people that are struggling financially, and it builds a good reputation which is very important for a business.

When Fiorella stresses that social entrepreneurship is not charity, she means that charity is not sustainable, because the influx of money isn’t not controllable, and a social entrepreneurship has to be sustainable so most involved benefit. I agree with Fiorella that social entrepreneurship is the future of business, and where relationships are built while making profit.

Fiorella stresses the difference between social entrepreneurship and charity. A business model can’t be made in a charity, due to charities not being sustainable. Both of these help the community in many ways but you can make money also in social entrepreneurship as it is sustainable.

Fiorella says,”I believe social entrepreneurship is the future of business and policy making” I agree with this statement because I believe that people now a days are trying there best to make this world a better place so being a social entrepreneur is not only helping yourself but also helping your community.

I really find this idea of “social entrepreneurship” to be very defining because this allows people with somewhat experience with the business world to get to experience real life. Many people don’t think business is that hard but this thought of having social entrepreneurship I feel will actually make the image of the business world easier to understand. Social Entrepreneurship is the future and is actually happening already, the reason is because being able to interact with customers and consumers will allow the buyers to have more confidence in the product. Interactions also allows the business to have good credit and good credit to a company means that they are worth more and are recognized as a company that has good stuff. Another reason why social entrepreneurship is the future is because it is easier to start than that of an actually big name company, so I predict that there will be more social entrepreneurs than companies trying to sell small products (that is the job of a social entrepreneur).

Fiorela Riccobono stresses that social entrepreneurship because it is still a business even though it helps people in need. People know the charities are basically just giving money to people and that is not what social entrepreneurship is about. Social entrepreneurship is a business so it still makes a profit but it also helps people. These businesses are all about making a profit while still maintaining a social message. They follow business plans and make a sustainable business while still making an impact with the social sector of the world.

Fiorella Riccobono states that social entrepreneurship it’s not charity. Social entrepreneurs run a business from which they want to take profit while they are contributing to society. She states that they practically show emapthy and use society to make money, which in a way, making money or not, at the end they are still helping people.

Fiorella Riccobono stresses that social entrepreneurship is not charity. She wants to show that social entrepreneurship isn’t charity because it isn’t to get things for people in need. Social entrepreneurship is to develop, fund and implement solutions to social, cultural, or environmental issues. She makes this important distinction because social entrepreneurship uses techniques and has ideas behind funding solutions to social culture, while charity is to do for the good of the people in need. Also social entrepreneurship looks to find solutions for issues, when charity just helps a certain cause.

I believe strongly in the idea of Social Entrepreneurship and the benefits it can bring to many people. I think that is great for college campuses to have social entrepreneur ship clubs so that college students can be exposed to all of the problems that the world has, I love how the article stresses how its important to be open minded and expose your self to new experiences because the world changes every day and it is key for young people to know that because they are the ones who have the most power to change things for the better

Fiorella strongly stresses that social entrepreneurship is not charity. This means that it is still business, that means that it is for profit. I think this is a good thing because the best way to support social programs is by money from companies that still have profit. Fiorella also must believe this because she is sure to emphasize the fact that social enterprises are making money and not bankrupting themselves for their programs or relying heavily on inconsistent and unreliable donations like a charity.

Riccobono emphasizes that charity is different from social entrepreneurship by expressing that charity works with donations and social entrepreneurship handles profits. She makes this distinction to help realize that everyone can win; farmers receive just payment for their goods and vendors of these goods can make a profit. This has definitely made an impact on the world by allowing almost any person attain a fair an income at little to no expense. I don’t completely agree with Fiorella’s belief because today many giant corporations, such as Monsanto, benefit greatly at others’ expense and won’t easily change. Yes, it is a great concept and should be adapted all over but it doesn’t seem like something that will truly happen.

What Fiorella Riccobono means by social entrepreneurship not being a charity is that they are totally different concepts. She makes this important distinction because a charity depends on people donating money for their cause. While social entrepreneurship do accept donations, they don’t rely on it. They use a business model to plan it out like a business.

3: I don’t necessarily disagree or agree with the statement that social entrepreneurship is the future of business and policy making, because there are many other business fields that can have a larger effect on society, for example, the economy keeps the world turning by trading goods to other nations and providing everyone with the funds they earn. The economy also provides storage units known to most as banks, to store any earned money that was not to be spent, this being the opposite of in-wallet or in-pocket money.

But, social entrepreneurship is a very crucial business, and as time goes by, this will get more important. In addition, social entrepreneurship is interconnected with the economics, because with social advantages, one might have a vast connection, thus leading to a higher chance of getting advertised, hired, or partnered with another company.

Firoella Riccobono stresses that social entrepreneurship is not a charity. Social entrepreneurship is a business that is profitable and is indeed not a charity because then it wouldn’t be sustainable. Instead it is comprised of individuals who want to make the world a better place.These individuals try to make the world a better place by using business tactics to try to create solutions to some of the societal issues that we face today, like poverty, climate change, and pollution. So, not only is it not a charity, it is profitable and at the same time it helps make the world a better place.

1.Fiorella Riccobono stresses that social entrepreneurship is not charity even though they receive donations, they can’t create a business model, charity is not sustainable. 2.Malala Yousafzai fights for gender equality, and Muhammad Yunus help the poor and poverty worldwide. This inspires me to leave my mark on the world and change the world for the better. 3.I agree when Fiorella said ” I believe social entrepreneurship is the future of business and policy making.” Because this will help the poor and raise charity.

Fiorella says, “I believe social entrepreneurship is the future of business and policy making.” I agree with Fiorella because it will help give back to those who do not have the resources that they need. It will not only make provide good reputation to the business, but it will give you such a good feeling to know you are being involved in the community and helping others.

Fiorella Riccobono stresses that social entrepreneurship is not charity, because it’s not possible to create a business model based on donations, because charity is not sustainable. Malala inspires the education of all women in the world, even in countries where they are not educated. Muhammed inspires young leaders globally, and he has also won a Nobel Peace Prize. I agree that entrepreneurship is the future of business and policy making, because it gives hope to those who need help.

What Fiorella means when she says that entrepreneurship is not a charity is that in the business you have to know when your money is coming not just to wait around for a donation, which is what charity does. I do agree with Fiorella when she says “I believe social entrepreneurship is the future of business and policy making” because it helps keep the community going to a better place.

She means that you still make profit off of social entrepreneurship, as it is what is desired because charity is not sustainable. She makes this important distinction to show that social entrepreneurship is not charity and needs to have a constant influx of cash to help as much people as you can. I do agree because it is a good way to help people who are less fortunate with their situations.

Fiorella Riccobono affirms that all related with social entrepreneurship is not charity, by that you can extract that corporations or business don’t live related with donations or charity. Business must grown from experience, hard working and good ideas and not from donations. Donations can surely help, but a business concept doesn’t not relate to that.

Malala and Muhammad had a big participation with the world. While Malala made the education available for womens she wrote a book that affected the globally society. Muhammad inspired young leaders over the world. He won a Nobel Peace Prize for his social entrepreneurship, which had successful results. I agree with her when saying that the social entrepreneurship is the future of business, because the social entrepreneurship allows a business that self-survive to help the good causes without having this motivation for self gain.

What Fiorella Riccobono means when she says that social entrepreneurship is not a charity is that it does not involve raising money for a cause. Charities also do not have enough money to sustain them for a long period of time without donations. Social entrepreneurship aims to solve problems while still having the ability to make profit, although they do accept donations. It is a business that at the same time makes a huge impact on society.

When Fiorella says that social entrepreneurship is not charity she means that social entrepreneurship is its own thing. She recognizes it as being something that can help many people, in many different places, for many different causes. As opposed to charity which is something that helps one cause, or raises money for something in specific. She makes this important distinction because she also realizes that the topic could be confusing for some who do not necessarily know the exact difference between the two.

When Fiorella Riccobono stresses that social entrepreneurship is not charity, she means that social entrepreneurship is not focused on raising or donating money. Social entrepreneurship is a business that benefits when money is used. Of course you are going to need to raise money from somewhere, but the purpose of social entrepreneurship is to run a business not to collect money. Clearly, Fiorella makes this important distinction because she wants to show the readers that social entrepreneurship and charity are two separate things.

Fiorella Riccobono stresses that social entrepreneurship is not charity. When Fiorella said this, she meant that a social entrepreneurship does not just base solely on donations. Of course, donations can help, but a social entrepreneurship thrives from people working hard to help others. In addition, a charity, unlike a social entrepreneurship, is not sustainable She shows that it is more about creating a work place than a place just collecting money.

When Fiorella Riccobono says it is not charity she means that these companies are not run on donations and not ran by volunteers in their free time. She is saying these companies are real businesses that have to compete in the real world. They too have the goal of making money however, they also make businesses that help a society as well as protect the environment. She mentions this because often times they have no idea where there next check is coming from and when. This is a important distinction because these are people who are interfering with their career or salary to make the world a better place and not doing it on extra time.

Riccobono emphasizes that social entrepreneurship isn’t charity. The difference between a charity and social entrepreneurship is that in a charity, funds received are dependent on the contributions of donors. Profit generated from social entrepreneurship are directly correlated with the economic aspects that entrepreneurs find themselves confronted by, such as competition as well as supply and demand. Because of this, the defining aspect at the core of social entrepreneurship is that success is defined by the financial decisions that entrepreneurs choose to make within the current state of the market in which the entrepreneur operates. Au contraire, running a charity would rely on sporadic donations that prove to be a less reliable source of money than the profits and economic stimulus caused by small businesses and lower-class workers.

Fiorella Riccobono stresses that social entrepreneurship is not charity because even though some social entrepreneurs do rely on some charity to start their business, social entrepreneurship aims to solve problems and create a sustainable business that doesn’t rely on others to make profit.

1.I believe that Fiorella Riccobono had the need to express that social entrepreneurship is not charity, rather that relies on donations because she felt the need for the individuals that read the article to understand that this project is so innovative and new that the majority of the people don’t really know about it. Charity is defined as an organization that wants to help and raise money for those in need. Instead, what Fiorella Riccobono is doing relies on donations because although she is helping the needed and businesses, she needs resources and wants to improve the ideas she has for individuals to take on their business as soon as she sets them up for success with her unique innovated plan. This makes an important distinction because it may not always be for free that Riccobono may be doing her job, rather to create a change with an imaginative job that helps improve the world.

3. When Fiorella says, “ I believe social entrepreneurship is the future of business and policy making.” I somewhat agree with what she said. Due to the fact, that her job might be one of the ones that may help a large amount of people as it has economic and balanced strategies to make a business start or grow exponentially. However, I don’t coincide with it being the essential future of business rather social entrepreneurship taking on a branch. As it will only help an specific business that are in certain conditions. In addition, it may be a good and productive job, but not the overall future.

Fiorella Riccobono stresses that social entrepreneurship isn’t charity to emphasize that it isn’t an organization that runs on donations. Social entrepreneurs create real businesses that make a profit. Although their objective is to improve issues in society and assist people, their goal at the end of the day is also to earn a profit. I think Fiorella makes that important distinction to show that although social entrepreneurs are there to help people in need, they also create thriving business. It shows that there’s a lot more to social entrepreneurship than most people are aware about and how it’s different from any other non-profit organization.

Malala was shot by a takin when she was 14 years old, since then she fought for the rights of young women to study and gender equality. She became the youngest nominee for the Nobel Peace Prize and won it in 2013. Muhammad Yunnus created the Grammen Bank, it researched to study how to design a credit delivery system to provide banking services to the rural poor, he won the Nobel Peace Prize in 2006. Another social-justice champion is Martin Luther King Jr, he is best know for his role in the advancement of civil rights using nonviolent civil disobedience based on his Christian beliefs. On October 24, 1964, King received the Nobel Peace Prize for combating racial inequality through nonviolence.

Malala Yousafzai is a Pakistani women’s right and children’s activist, who is also the youngest-ever Nobel Prize laureate. Muhammad Yunus is a Bangladeshi social entrepreneur ans economist, who was awarded the Nobel Peace Prize for founding the Grameen Bank, in which he developed a micro loans and credit system that helped poor Bangladeshis ‘borrow’ small amount of money. Paulette Meyers mission inspired me because she founded and chaired the Women’s Initiative for Self Employment in San Francisco, for 15 years, which helped to train and finance low-income women to start their own businesses.

Fiorella Riccobono is saying that social entrepreneurship is not a charity because they are very different. For instance, charity needs people to donate money to succeed while social entrepreneurship does not rely on donations even though they do accept money to help their concept. Instead, they use innovative business tactics to create solutions to social issues.

Fiorella says “I believe social entrepreneurship is the future of business and policy making.” I believe this statement is very accurate to the future of the business landscape as large corporations are increasingly searching for ways to give back and help out society. Social entrepreneurship also opens up new possibility to those who enjoy philanthropic work while still utilizing their business skills. Through creating self-sustaining businesses that help out society, more individuals will be open to the idea of entering a field which help people as it eliminates the feeling of charity and volunteer work.

Fiorella Riccobono stresses that social enterpreneurship is not charity because although enterpreneurs may rely on donations they can’t really create a business model based on it. She makes this important distinction because people may think thet enterpreneurship is based on charity and donations when they really are basically innovactive business tactics to create solutions to social issues.

Fiorella Riccobono stresses that social entrepreneurship is not charity because charity is giving to those in need with nothing in return, which is similar to social entrepreneurship in the helping side but social entrepreneurs are looking for a profit and the thing that differ them from most of the entrepreneurs is that besides a profit they are looking to help, they are trying to make an impact in their community for the good. Making an impact is clearly really important to her and that’s why she distinct what social entrepreneurship to encourage people to also make an impact and show them they can make a profit out of something that will benefit the social sector.

Social entrepreneurship IS the future of business and policy making. The world is full of hunger, poverty, pollution, etc. What would be more successful than making a profit while helping to make this dirty filthy world a better place?

I agree with Fiorella Riccobono’s statement that social Entrepreneurship is the future of business and policy making. Based on the information her article is giving us, the goal of social entrepreneurship is to help fix the world’s issues or problems. To her, instead of a simple solution, social entrepreneurship can also finds ways to transform the conflict into an opportunity for economic growth.

Fiorella says, “I believe social entrepreneurship is the future of business and policy making.” Do you agree? Why or why not? I don’t think it is the future, yes it is helpful to the world and is good and helps people in need, but this can not be the future of business. If a business wants to be successful in the world they can’t be nice, they can’t just go around helping. A business needs to make a profit, needs to be able to pay all its employees, and all its assets. If a business ever hopes of progressing in this world it has to be heartless, or it will be taken advantage of. It cant have a soft spot it it will be open and it will be used. I understand why she would say this but that is in a dream world, but the business world is far from a dream. It is ruthless and has no heart, its all about the money.

Hi Sebastian. Fiorella, the writer of this essay, read your comment and wanted to respond. Here are her thoughts:

Although I do agree that a business needs to make a profit, I disagree with you on the point that the only value a company can generate is revenue. That is an outdated perception of the value modern day corporations and financial institutions are trying to generate. Social entrepreneurship does not exist to be charitable, it exists to create systemic social impact at the core of it’s day- to- day operations, while simultaneously generating profit.

The modern business structure is steering away from a profit-driven model, to a strategy that systemically addresses the triple bottom line. This is not a dream world perception, but rather the new trend and business models of all corporations are trying to adapt in order to stay competitive. But, you do not have to take my word for it, let’s use a modern-day example of investment banking. The young individuals who are entering the banking industry are increasingly making investment decisions that focus on sustainable growth. In order to learn more about impact investing, a form of social entrepreneurship, I have attached an article recently published by Morgan Stanley:

https://www.morganstanley.com/ideas/sustainable-socially-responsible-investing-millennials-drive-growth?cid=sm_smsp_LINKEDIN_MorganStanley_20170831

This generation is demanding socially minded products and companies are responding to this in order to stay competitive and relevant.

When Fiorella says that social entrepreneurship is the future of business and policy making I could not agree more. Many people in this generation are empowered to make a change in there society and around the globe. Social entrepreneurship is a great way for both a way to make a lot of money , and help the change that you want in the world. Also, social entrepreneurship is a great way to gain customers, because people that believe in your platform will want to buy your product and goods. Social entrepreneurship is a great way to not only help yourself succeed but also a great way to help other succeed and get through there struggles.

2- Muhammad Yunnus founded the Grammen Bank and pioneered the concepts of microcredit and microfinance. He gave loans to entrepreneurs too poor to qualify for traditional bank loans. by this Yunus and Grameen Bank have shown that even the poorest of the poor can work to bring about their own development.

Malala Yousafzai is an activist for female education. She is known for human rights advocacy, especially education of women in her native Swat Valley in Khyber Pakhtunkhwa. Yousafzai opened a school in the Bekaa Valley, Lebanon, near the Syrian border, for Syrian refugees. The school offers education and training to gils aged 14 to 18 years.

A social enterprise is not a charity because is organization that applies commercial strategies to maximize improvements in human and environmental well-being. They basically combine business with social concerns; they ensure that the society can have access to opportunities to grow in the business environment and be able to sustain themselves.

Fiorella Riccobono stresses that social entrepreneurship is not charity. What Fiorella means by this is that entrepreneurship is not runned by money or even sustained by money like a charity is. Although she says that here and there money will be involved but really and truly its not based on donations at all. Her making it a important distinction lets everyone know that its a innovative business.

Fiorella states that social entrepreneurship isn’t a charity. She emphasizes that is not a business that simply runs on donations, which is similar to a charity. Social entrepreneurs create certain businesses to make profit. These businesses do not rely on others to make profit. An important distinction made is that charities are run totally on donations. Real businesses simply can not last on just donations. Social entrepreneurs have actual businesses that make money that is used for social, cultural, or environmental issues. The important distinction is that charities are run on donations while social entrepreneurs create businesses that make money.

When Fiorella says that social entrepreneurship is not charity she means that social entrepreneurship is its own thing. She recognizes it as being something that can help many people in need, in many different places, for many different causes. As opposed to charity which is something that helps one cause, or raises money for something in specific. She makes this important distinction because she also realizes that the topic could be confusing for someone who does not necessarily know the exact difference between the two.

Freshman need to join college already thinking of a way to change the world. By being innovative in the beginning, it opens your mind to greater things in the future. By joining entrepreneurship clubs, you can discover a whole new world of chances to help homeless people and poor communities. These people are in the need of a shelter and income, and if you somehow can manage to help those communities, they may even increase their business, earning well deserved money, and help other communities too.

I agree with Fiorella that, social entrepreneurship is the future of business and policy making because, to start a business people have to have technics and know how to talk face to face with other company CEO’s or to talk to banks so they know they will get a profit off you if they lend you their money. Those are the reasons why people have to be socially ready.

I agree when Fiorella says that she believes social entrepreneurship is the future of business and policy making. In a growing age where successful businesses are known for their high rates of pollution, many advocate for business techniques that are more environmentally friendly. Not only does social entrepreneurship promote profit while keeping detrimental environment effects to a minimum, but it also reaches out to the community to aid and improve the lives of those in need. Business thrives off high profit and the ideals behind social entrepreneurship (such as eco-friendly techniques and public aiding) are essential to good policy making and an excellent community of people. Thus, future business and policy making would greatly benefit from this.

Fiorella Riccobon stressed about social entrepreneurship not being a charity so much since the idea of a social entrepreneurship does not want to be labeled as a charity, because their approach to the problem can be very different. Charity solely depends on donations and uses the money the get to first have their business then give back. This distinction is very important since what social entrepreneurship wants to do is give back and make sure their purpose is directly served and is not based off on only donations.

Fiorella stresses about social entrepreneurship not being charity because it is not an organization that runs in donations, social entrepreneurs create real business that make a profit although there goal is to improve the issues in society and help people but at the end of the day there goal is to make a profit out of there business, I think that fiorella makes that important distinction, to show that social entrepreneurship is there to help people in need, and create a working business that are able to create profit at the end of the day.

I think what Fiorella meant by social entrepreneurship not being charity was that people actually have to put a lot of work in to their business and not just rely on donations. She states, ” charity is not sustainable.” Which means that entrepreneurs should not run a business if they do not know who is giving them money; especially off of donations.

Fiorella Riccobono stresses that social entrepreneurship is not charity. Social entrepreneurship is not charity because you cannot create and run a business in which you, the entrepreneur, do not know when or where the donations to your business are coming from. Social entrepreneurship is also not charity since it is a business, and the entrepreneur and his or her business earns a profit while helping others. Fiorella makes this important distinction so that people do not think that a social entrepreneur’s business is a charity to the homeless, it is a business that earns a profit while helping the community and the homeless.

Social entrepreneurship is indeed not a charity. While a charity is reliant on donations, a social entrepreneurship cannot create a stable business model without having a stable source of income. Instead, a social entrepreneurship finds an underlying problem such as pollution or poverty and then creates a business model that does not only solve the underlying problem, but also makes the business model profitable. Fiorella Riccobono stresses the distinction between a charity and a social entrepreneurship in order to highlight the fact that a charity only helps people, whether it be through financial or material means; while a social entrepreneurship continuously helps people by creating a profitable business model that not only solves a social issues, but also creates a profit. The distinction between a charity and a social entrepreneurship can be seen in the analogy where, “If you give a man a fish he will be fed for one day, if you teach that man how to fish and he’ll never be hungry.” A charity can be seen as simply giving a man a fish, while a social entrepreneurship can be seen as teaching a man how to fish.

Fiorella is right/wrong when she claims that entrepreneurship is not charity even though some business do help our community. Most of the business have a goal of making money and benefiting themselves, that’s the main goal of most entrepreneurship, they are sometimes too ambitious and don’t care about society. On the other hand some do care about our society and help our community by investing on something using their profits that will benefit not only them but everyone else in the community. She makes that important distinction because charity relies on donations and money support for those in need, she is trying encourage more people and other business that thrive in order to be more charity and help those in need.

When Fiorella Riccobono stresses that social entrepreneurship is not charity she means that you can’t create a business model based on donations, because charity is not sustainable. She says this to make it clear that it is not a charity.

Fiorella Riccobono stresses that social entrepreneurs is not charity and I agree. She means that social entrepreneurs create a business and make profits. They can’t create a business on donations. Social entrepreneurs create solutions to societal issues. She makes this important distinction because she wants people to understand that social entrepreneurs is not about donations, it’s about assisting and helping ours and your community.

I do not agree with Fiorella when she says, “I believe social entrepreneurship is the future of business and policy making.” Although social entrepreneurship will continue to grow and thrive in western businesses, saying it will be the future of all business is impossible. In places like the United States and other similar countries people generally have more money than those in third world countries, so when people start businesses they are more likely to have enough money to use sustained practices to create there products.we have also seen a shift in what consumers want. More and more consumers are looking for ways to make themselves feel like they are helping society in what they buy, so shifting to social enterprise might actually benefit your business more. Although this is true for first world countries in most other second and third world countries this business method would not work. In these countries people make a much smaller income than they would in first world countries so when consumers are looking for products to buy they will most likely pick a cheaper product that does not give back to society rather than spending more money for the same product with the difference this one will give back to society. These business also have less start up money making it harder for them to produce products in a sustainable manner. For reasons like this social enterprises will grown in first world countries or rich people but is no a viable option for people of lesser income. this is why I do not believe social enterprises will be the future business of the world but rather of the first world.

Fiorella Riccobono stresses that social entrepreneurship is not charity even though it has some analogous needs and events. For example, social entrepreneurship may need to rely on donations to launch their endeavors. However, like charity is not sustainable, it is futile to create a business model. It is crucial to express that social entrepreneurs try to solve societal issues by combining government, nonprofit, and traditional business practices.

Social Entrepreneurship is an emerging concept and, as any concept that is new, some people don’t really know what it means. Although it relies sometimes on donations, a business can’t sustain itself just by charity. Social Entrepreneurs main purpose is to help needed business to succeed and creating innovative plans in order to do that.

I believe that social entrepreneurship is the future of business and policy making due to a great deal of social entrepreneurs looking toward the future and building business models that favor our environment. These innovative minds see harsh problems like global poverty and world hunger as a new slate for growth in areas like economy or cultural growth. In the end, the positive minds of social entrepreneurs will be those of the future in business and policy making.

Fiorellla Riccobono is constantly stressing that social entrepreneurship is not similar than charity, because both overlap in many things. But what people don’t realize is that compared to charity social entrepreneurship is a business looking to make profit. Malala Yousafzai is a Pakistani activist for female education and the youngest to ever to receive a Nobel Prize, also survived a shot to the head once and is now a bounty. Muhammad Yunus is a Bangladeshi social entrepreneur who was awarded the Noble Peace Price for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance. I agree seeing the benefit of social entrepreneurship just as many others.

Fiorella says, “I believe social entrepreneurship is the future of business and policy making.” Do you agree? Why or why not?

I disagree with her. I found social entrepreneurship a very respectable cause and i loved the idea, but i don’t think it is the future of business because since now there weren’t social entrepreneurship, so entrepreneurs can create their company without that help.

I agreed with what Fiorella Said about the future or entrepreneurship. I think that these newer generations are more biologically aware of what is going on with our planet and communities, specially with the current science they have more knowledge and a better understanding of the problems on this world. So judging by the way these generations are more aware and having more knowledge they would lean more towards businesses that can help the world and our communities.

“Fiorella Riccobono stresses that social entrepreneurship is not charity. What does she mean by this? Why does she make this important distinction?”

She means that its not a charity because a charity is not sustainable. She make the important distinction because a lot of people confuse it for a charity. She wants to make sure that they know the definition of social entrepreneurship is.

Fiorella is making points that social entrepreneurship can make a difference in people’s lives. Social entrepreneurship can help build of jobs and businesses. It also is helping other people that aren’t working in those businesses and improving their community around them. She wants to make a difference in this world I think that this is the key to change the future and what is soon gonna be the next generation of entrepreneurs.

When Fiorella said “I believe social entrepreneurship is the future of business and policy making.” I agree because social entrepreneurship is very important in the business world. People have to be able to communicate with people face to face. In todays millennials everyone uses phones and in the future could have a hard time communicating with people face to face. So I think that social entrepreneurship will be very important in the future.

Fiorella stresses that using social entrepreneurship isn’t just a charity and it is a way to make money. Even though it isn’t charity way of working it can contribute to the advancement of others or addressing problems injustice in the world. The social side promotes it to which the business can grow off the help of others it needs a source of revenue like any other business to thrive. Though the company’s can take in donations to work and run this helps things and what they need and to do at the same time promoting problems.

I agree with Fiorella. Social entrepreneurship is the future of business and policy making. As time goes on, more and more people are becoming aware of the state of our world and the people who live in it. Social entrepreneurship finds the source of a problem, and not only fixes it, but helps to make the world a better place in the process. I believe that this generation, as well as generations in the future, will want to help our world and people in need. More people are wanting to leave the world in a better state than we found it, and some people are already trying.

Fiorella Riccobono is saying that the Social Entrepreneurship is not a charity at all. The whole Social Entrepreneurship point is to help fix the worlds problems but making money is still a priority for the Social Entrepreneurship.This idea still finds ways to transform the issues for an economic growth. So Fiorella basically wants us to know that they’re not a charity that donates all their money.

Yes I do agree with Fiorella, social entrepreneurship is the future of business and policy making and the idea of it, is a great idea to help young entrepreneurs that are lost in the world of business, this would be a very good and helpful tool for them, and we can’t escape from that, because the technology is growing every second of our lives so i wouldn’t be a surprise if technology take over the world of business, many companies are successful and they did it without that help, but now it can be a very good addition for young kids with great ideas this can help them start and i believe they can be very successful with their projects and new businesses

Fiorella Riccobono stresses that social entrepreneurship is not charity. What does she mean by this? Why does she make this important distinction? she means its not charity because it cant create a business model, based on donations, because charity is not sustainable, because charity is mot sustainable. you cant build a business when you don’t know where your next dollar is coming from or when.

I agree with what Fiorella thinks about social entrepreneurship. The program is related to charity but is not the same thing as she had stated in the article. This program has a potential strong base for jobs in the future. The course deals with societal problems by matching them with economy issues as well as financial issues like a business. This sets it as a powerful candidate for future employments and jobs in my opinion as it has an extravagant amount of potential.

I agree and believe social entrepreneurship is the future of business and policy making because one of its main purposes is to make the environment and future businesses successful and better.

I agree with Fiorella because it’s true that in the future we need to socially communicate with different people. Some people are working and are not getting paid enough for the work that they are doing. It’s good that she and other people are making a change to this problem in the world. With the homeless Fiorella and other people are trying to make a difference helping the people that are in a finacial crisis or are in need of help

I agree with Fiorella. I find that social entrepreneurship does a good balance between profit and helping the community. They are not dependent on outside source like charities and are not focused on massive profit like the big enterprises. I believe that more of those kind of business will start to appear and be successful on the near future.

Fiorella Riccobono stresses that social entrepreneurship is not charity. What does she mean by this? Why does she make this important distinction? Fiorella means that social entrepreneurship is forced to donate and charity is your choice to donate money to charity.

Social entrepreneurs can only do so much to help people out. Being a social entrepreneur cannot be anything like a charity because you need to guide yourself and get yourself out there. Like she said, we all want to leave the world a better place than it was before yourself, so yes you can help out but if you just keep helping someone, they are constantly going to keep asking for help. Give a man a fish and he can eat that day but teach a man to fish and he can now provide for himself. She makes this important because people need to understand it, too many people guide others around and can help them for that time but not later on in life. It’s similar to the first 18 to 20 years in your life, your parents provide for you with food and a roof over your head but they cannot support you forever.

I agree with Fiorella. No person, for their entire lifetime, is going to want to be bossed around by someone. Everyone eventually wants to become their own boss and be the founder or CEO of their own company. Everyone can do it, and there are many opportunities down the road, whether you’re getting right out of college (or even high school) or you’re in your later years and have some money to work with and want to make a change in today’s society.

As Fiorella Riccobono said, Social Entrepreneurship is not a charity. It is easy to think that, however it is important to recognize the difference between the two. A Social entrepreneurship is financial and business organization that combines aspects of a running business while helping social problems in the world advance.

I agree with Fiorella because Fiorella wants to make a charity to help homeless people and I think that’s great because she understand that Homeless people needs help and I like to help people that needs help.

Fiorella says, “I believe social entrepreneurship is the future of business and policy making.” I agree with her because as people grow up they are starting to realize the real world and businesses and businesses techniques are changing

The student explained what social entrepreneurship is. She explained that it is not a charity and that it is made to last. In social entrepreneurship you have to think how to make the idea work so the idea doesn’t fall apart and you give money for specific things which will help the idea to develop.

Fiorela has stressed that social enterprise is not at all a charity, it makes money. She means that it is not a charity because then it doesn’t sustain itself well at all. It cannot create a good business model with donations, or nothing at all. She wants people to know that they are not a charity that donated all their profit away.

Fiorella Riccobono is correct because social entrepreneurs is a business. In social entrepeneurs people is more empathetic because of their helping the social sector by solving global and humanitarian issues, they ask what is the problem and then base on that they plan their business around that. They make a money while helping the society.

Social entrepreneurship is truly the future in my opinion because of business and policy making, it is a business enterprise not only with a focus in profitable gains and societal claims. Its meaning is reflected on the demand of clients for business to have grater social goals or targets.

When Riccobono thinks “social entrepreneurship is the future of business and policy making”, I support her opinion. For me, I think as young adults develop, they establish beliefs on how they can have a positive impact on the Earth. Of course, one of these ways is by social entrepreneurship. With young innovative minds, they can think of things they can create. These people need passion and commitment. They also need to develop skills that persuade other passionate and committed people to join their cause. Social entrepreneurship is about helping the world, and an increasing number of people are constantly trying to do that. As a result, global issues, like poverty, will decrease.

A social entrepreneurship is not a charity because all of the proceeds do not go to other organizations. A part of the revenue goes towards organizations but some goes towards the business to keep it running. A social enterprise is sort of a hybrid between profit business and non-profit charity. What she means to say is that the social enterprise’s goal is not to just give away money but instead to create money for its own needs while giving money to organizations that need it. She has to make this difference clear because many people know about charities and often do not want to donate, but since this is a charity/business in disguise it generates money while also providing a service and good.

Yes I agree that social entrepreneurship is the future of business and policy making. I believe that social entrepreneurship can do a lot of good in the world and benefit people both the ones being helped and the ones helping. It will open many doors for many people that need help.

1.Fiorella Riccobono stresses that social entrepreneurship is not charity because it makes profit and it is not a situation where someone receives money once, and slips back into trouble. When profit is made, the organization is clearly no longer a charity and social entrepreneurship helps people get back on track. This is an important distinction because it helps people realize that unlike a charity, this organization makes profit and helps people at the same time.

2. Malala Yousafzai has made an impact on the world by advocating for young girls to go to school, and Muhammad Yunus has made an impact on the world by providing small loans to the poorest people in the world. The most inspirational social justice hero to me, is Mahatma Gandhi because he liberated an entire country from England in peace and in friendship.

3.I do not believe social entrepreneurship is the future of business and policy making, because there are certain businesses that this won’t work with (Ex: car companies) and there are many people in the corporate world that will not support this type of organization.

Fiorella Riccobono stresses that social entrepreneurship is not charity because while both aims to aid those in need, social entrepreneurship makes a profit. Charities may give money to those in need, but unless these people are able to regain an income, they will return to their original conditions. It is impossible for charities to keep on giving money to support these people for the rest of their lives since charities relies on donations and the people working in charities also needs an income to support themselves and their own families. Social entrepreneurship tries to address the root of the problem and create a solution. As Fiorella Riccobono has mentioned, instead of giving small coffee farmers money, they bought their coffee for a fair price and sold it at their trucks. This not only helps the farmer, but also helps the people running the business to keep going and continue making contributions to the world.

I do agree that social entrepreneurship will be the future of business and policy making. Social entrepreneurship helps develop, fund, and implement solutions to many different social and environmental issues around us. With different aims and sizes of this concept, it can apply to almost any organization or job. So it can pretty much help out others who work in different industries.

1. Fiorella Riccobono is stressed that entrepreneurship is not charity because they are both different from each other, entrepreneurship helps us make the world a better place by making ideas. Charity is people helping others by giving them money to be successful in life.

2. I agree that entrepreneurship can be helpful in our future because of how helpful it can be for the country and for us living a better and healthy life style. It can also impact others and convince them too work for entrepreneurship to help our grow even bigger then it was suppose to be.

Fiorella Riccobono stress es that social entrepreneurship is not a charity, because charities are not sustainable and can not control the influx of money, in the contrary, social entrepreneurship is a business that is expected to make a profit and relies on more than just donations. Although social entrepreneurship is not a charity, it was also invented in order to help people, businesses and helping make the world a better place. Social entrepreneurship is the future to business and policy making and it is supposed to make enough money to keep the business going, with profits included, and help other businesses that may need financial help.

I think it was very wise for Fiorella Riccobono explain to us that social entrepreneurship is not charity because it makes us understand that you can do the right thing and still get revenue from your work. I think that now I understand way more about social entrepreneurship and I think is a great thing. I feel that It helps the community to improve in many ways. I’m glad she wrote this, I think she may have changed the point of view of a lot of people about entrepreneurship that thought it was like a charity.

Firoella Riccobono explains that social entrepreneurship is not charity because since its just emerging as an idea, she thinks that charity is not sustainable enough to do the job. You can’t build your business on not knowing when or how much money you are gonna receive from charity. They combine government, non-profit, and traditional business in order to create a sustainable business. These innovators create large sustainable models by addressing an issue in the world like poverty, pollution etc.

Fiorella says, “I believe social entrepreneurship is the future of business and policy making.” I agree with her statements beacuse I think that future and presents Entrepreneurs are thinking in ways to make the world a better place. This impacts lots of people by the fact that they are attracted to make the world a safer and healthier place for everyone, especially for the people in need, like the homeless. While lots of people are getting involved in business, the majority will want to start their own social Entrepreneurship campaing which gives a high income and helps the world to be a better place.

I agree with Fiorella because the next generation of Entrepreneurs are trying to find new ways to make the world a better place. This has a huge affect on people today, For example the more unfortunate people.Now a days everyone want their own business where they can do something for money. But Fiorella addressed social entrepreneurship is like a charity where you get a profit from. This is another way we are trying to develop something new to make the world a better enviroment to live in.

I forgot to add that either most or all charities don’t profit, and that this is why she talks about the topic this way.

Fiorella Riccobono stresses that social entrepreneurship is not charity because for the business to thrive and grow it must have a stable amount of money behind it. The business can use help from donations but it cannot purely be charity. If it were to rely only on donations, it would not be sustainable over a longer period of time. Social entrepreneurship is for the benefit of important causes like the homeless. Having financial support ensures they can do their job.

When Fiorella Riccobono stressed that social entrepreneurship is not charity, she meant that social entrepreneurship although helping people, helps the person who made it generate income, while charity is straight up giving people or organizations money or aide without getting profit. This is an important difference because charities rely on donations and volunteers more than anything, and you never know how much you’ll get over relying on others. In a social entrepreneurship, you are responsible and you make money.

1. Fiorella Riccobono explains that social entrepreneurship and charities are different from one another: A charity is a nonprofit action that is made to see some sort of change in the world, for the better. However, it is made quite clear that social entrepreneurship is a business. Even though it receives donations, it is a business that generates some sort of profit; but, nevertheless, a business with a goal in mind, one that is to make the world better than how we found it. It’s important to make the distinction because a social entrepreneurship is better able to maintain itself without having to purely rely on external sources and donations.

When Fiorella states that social entrepreneurship is not charity work, I attatched that to the fact that it is strictly enterprises for a social change. The business owners in the social enterprise industry understand that they are not being given money for a cause nor are they raising awareness. Social enterprises are not charities because charities are given donations by others. Social enterprises on the other hand can be funded, but can not be donated to. This is a important distinction to make so that other do not get confused and make mistakes when they are starting their own businesses. It is crucial to make this distinction for the sucess of other businesses to come.

When Fiorella says that social entrepreneurship is not charity, she means that if you want to start a business, you have to have stable money behind it to produce it. Social entrepreneurship is a business that makes profit. In charities, you only get money for volunteers, not knowing if you will make lots of profit. Fiorella expresses this because she wants people to know that in entrepreneurship, you have to work or your business and get profit, not getting money from charities.

When Fiorella state that social entrepreneurship is not a charity, she is referring to the fact that charity relies only on founds specific for one cause, which may not be sustainable for a long enough time. Mean while social entrepreneurship, focusses on founding multiple things like homeless, and is not exclusive to one major cause, but is open to a variety of major causes.

What Fiorella means when she says that social entrepreneurship is not charity is that charity is when you raise money or objects for a cause or for a specific person or place. It for people and places that are less fortunate and cant afford a lot fo things. A social entrepreneurship is when you are making a profit out of something. You also focus on many different thing, not just one cause.

i agree because a lot of people don’t know the difference of social entrepreneurship and charity the difference is that in entrepreneurship you gain money in charity you donate money which means you’re losing money.

I agree with Fiorella’s statement on how social entrepreneurship is the future of business and policy, I agree with it because it is changing the way by how people see things. For example, the article states, “People are no longer seeing global poverty as a call for charity, but as a place of economic and cultural growth.” New students will exposed to social entrepreneurship and soon enough, there will be plenty of individuals who will use innovative business tactics to create solutions.

Yes, I agree with what Fiorella states. It is the future of business and policy making because you need to “promote your mission” and find funding for it, all while getting other people involved in whatever you may be promoting. These are essential paarts of growing your business.

I do agree that social entrepreneurship is the future of business and policy making. Many people in the world have the desire to make it a better place for everyone; however, they don’t know how or where to start. With social entrepreneurship, the goal is help and contribute while still making a profit. By doing this, both sides have the ability to grow and prosper. The best part is that you are making the world a better place.

I agree that social entrepreneurship is the future of business and policy making because companies would have a steady flow of income to them instead of a charity which will have money coming in for one specific cause. Social entrepreneurship will be successful considering how many young minds we have for the future, bringing it to a new level and presenting fresh new ideas into the social entrepreneurship world, changing it completely, allowing success. This is the successful future we have.

I believe that it is stressed that social entrepreneurship is not charity because the organization does not only depend on donations to succeed, they have had a stable amount of money behind them in order to strive as the organization they are. Unlike charities, social entrepreneurship make a profit. This is important and stressed because social entrepreneurship’s need to work for their money and sell instead of relaying on donations and charity events to become a better organization. Social entrepreneurship’s are businesses; they do not depend on donations and they also make a profit. The business also can not be continued if they are not making money on their own.

When Fiorella states that social entrepreneurship is not charity, she means that when you volunteer for charity, you only give. There is no economic balance if you always give, and don’t get anything back. We need to do charity when there is crisis. If not, the economic balance would go down. What Firorella states, makes a lot sense because social entrepreneurship has a economic balance circle that goes around and you make profit in one way or another, but charity does not have a profit if you only give.

When Fiorella states that social entrepreneurship is not a charity, she means that social entrepreneurship is a force used to help people. She states that charity is not a sustainable money flow for a business. Social entrepreneurship, however, is something that people use to (not exclusive to) helping the homeless, sustaining the planet’s resources, and finding ways to make profits for a business. She makes this important distinction because she wants to differentiate between between charity and the work that her and social entrepreneurs do. Charity is an unsustainable source of business, and that is not the goal for social entrepreneurs; social entrepreneurs work to aid people in growing a sustainable economic system.

When Fiorella Ribccobono says that a social enterprise is not charity, she believes that an entrepreneurship that seeks to gain a profit, fails to create a sustainable charity. Therefore, a social enterprise uses specific causes to aid in its operations. For example, rather than giving coffee farmers a percentage of the profits, the coffee food truck buys its coffee beans from farmers who use sustainable methods of farming. This allows the farmers to get a profit and be able to live off their work rather than relying on charity. This distinction helps Fiorella argue the benefits of being a social enterprise for the business and the cause, rather than the charity that does not allow the cause, in this case the farmer, to grow at all. Charity promotes a stagnant, one-way economy that has no advances of any kind. Although charity is important in a crisis or catastrophe, a social enterprise is beneficial in aiding the economic growth of two bodies of work.

when Fiorella says that social entrepreneurship is not charity, she means that if you want to start a business, you have to make stable money behind it to produce it. Social entrepreneurship is a business that makes profit. In charities, you only get money for volunteers, not knowing if you will make lots of profit. Fiorella expresses this because she wants people to know that in entrepreneurship, you have to work or your business and get profit, not getting money from charities.

In the article, the author, Fiorella Riccobon, stresses that social entrepreneurship is not a charity. She uses two important distinctions to explain this. The first is that it’s a more stable business format. Charities rely on donations for their income and funds. Social entrepreneurship sells goods and uses the profit to help others. The second is the way they help. Social entrepreneurship teaches people to support themselves by getting fair wages like the Haitian coffee farmers. Charities give money or food which only helps people when they are there.

It is important, social entrepreneurship is more than just a charity. Even if the businesses your talking about or involved in a nonprofit business, it will sustain its self better than a charity. All charities come to a soon end. you must have a bullishness plan when it comes to whatever your collecting profit for. Charity does not have a foundation like a businesses does. An innovative business will help you make a better profit.

Fiorella is stating the social entrepreneurship is not like charity. Shes saying the for charity it doesn’t last for a long time, entrepreneurship is not on one major thing. Malala has won the Nobel prize inspiring woman and helping the communit

Giancarlo amazing statement

I believe that when Fiorella mentions social entrepreneurship isn’t charity that she is referring to the fact that charity is something that is done for the sake of a devastating event or in other words a single reason but on the opposing side of things , she is saying that social entrepreneurship is for a diversity of necessities including for example as one of the subtitles in the article says “helping the homeless.”

The details given by Fiorella in the article on what a social entrepreneurship does and its functions is truly brilliant. The new level that these social entrepreneurship are achieving is remarkable as they create a business that benefits small businesses, helping in the community, and produce a profit. It’s a truly beneficial business for all aspects included.

As far as the article goes, Fiorella did a really good job distinguishing between charity and social entrepreneurship. Before reading this article, they were both the same thing in my mind. She makes this distinction for exactly this reason, so people are more educated about social entrepreneurship and her business. The way I see it, social entrepreneurship is an equilibrium between charity and the economy. Charity isn’t a sustainable lifestyle, but a social enterprise is. In my opinion, a social enterprise uses the efficiency of the United States economy to benefit the person in charge of the business and others.

When Fiorella said that social entrepreneurship is not a charity, she is stating that charity relies on other founds for only one cause. When you start a business, you need some money to put behind it to support the business. Charity relies on other people to give money. With a business, there is an economic flow of money. Even though donations are involved in a business, its gains some sort of profit. You cannot build your business not knowing where or when your money is coming from. Charity doesn’t generate profit, this is why she said it that way.

I agree with Fiorella, that social entrepreneurship is not charity. What she means by that is charity is when you give to a cause if there is something horrible occurs, such as hurricane Harvey, you would give money to charity to give the people of Houston. But in this case, social entrepreneurship is when you teach someone how to do stuff like make their own food by people teaching them how to farm or raise cattle so they won’t need to be so dependent for others to give them money.

Fiorella stresses that social entrepreneurship is not charity. Even though social entrepreneurs and charity both rely on donations and are similar, social entrepreneurs can’t create a business of it because charity is not sustainable. She wants readers to understand the difference between social entrepreneurship and social services because most people think they are similar.

When Fiorella Riccobono says that social entrepreneurship is not a charity she means that charity is just giving away without gaining any profit out of it. A social entrepreneurship is different because social entrepreneurship makes a profit; it helps a community in some ways but it also benefits the entrepreneur in other ways. There’s a saying that Ms. Zocco said “Give a Man a Fish, and You Feed Him for a Day. Teach a Man To Fish, and You Feed Him for a Lifetime.” This saying explains much about what social entrepreneurship. An example of a social entrepreneurship is, you put a business in a poor town, you teach all the poor people in that town how to do the job and hire them. You pay them a wage that is going to allow them to live comfortably and they are good. An example of a charity is going to a poor town and just give them money. That will only help them for some time. She makes this important distinction because social entrepreneurship is much better than charities. It helps the people, it makes them work, and it helps the entrepreneur make a profit. Charity helps society but it doesn’t improve society as much as social entrepreneurship. This is important to know because the more people make social entrepreneurship, the less poverty will be in the world.

When Fiorella states that social entrepreneurship is not charity, she is referring to the fact that charity relies only on founds and specific for one cause.

It’s not the same because , although social entrepreneurs may need donations to launch their endeavors, they are not going to be able to create a business based on donations. Charity is not continuous. Just imagine building a business when you don’t know where your next dollar is coming from or when, you can’t. This is actually important because social entrepreneurs are individuals who draw on innovative business strategies to create solutions to societal issues. So, this is what I think.

Fiorella stresses that social entrepreneurship isn’t a charity because it isn’t. In order to start a business and have it flourish you need more than just donations to do that. Even though the two have their similarities (meaning they both rely on donations), they are different. You can’t just base your business on a “maybe”, because there’s no 100% that there will be more donations. That’s worry-some for your clients and yourself. Entrepreneurs may use the donations to start off but later own they’re going to have to make better decisions so they gain money instead of receiving it form anonymous or known doners.

When Fiorella Riccobono stresses that social entrepreneurship is not a charity, she’s referring to the fact that a charity is when people give without getting anything out of it. Rather, she wants people to understand that in social entrepreneurship, the entrepreneurs are helping with societal issues but they are building a business not a charity.

When Fiorella said that social entrepreneurship is not charity, charity rely on donations for only one cause but charity isn’t sustainable. All charities will help for some time and come to a soon end. But social entrepreneurship is an equilibrium between charity and economy because makes people work and help the entrepreneur make profit and improve de community. Malala Yousafzi and Muhammad Yunus are positive and influential contributions to de society. Malala advocates for women education and Muhammad created the concept of microfinancing. I agree when Fiorella says, “I believe social entreneurship is the future of business and policy making.” Because the more people who make social entreneurship with innovative business tactics the more solutions to social issues.

When Fiorella Riccobono stresses that social entrepreneurship is not donated, she means that social entrepreneurship is not focused on raising money. Social entrepreneurship is a business that benefits when money is used. Of course you are going to need to donated money from somewhere, but the purpose of social entrepreneurship is to run a business not to collect money. Clearly, Fiorella makes this important distinction because she wants to show the readers that social entrepreneurship and donating are two separate things.

Florella says “I believe social entrepreneurship is the future of business and policy making”, which I have to totally disagree on. I’m surprised that no one has talked about Corporate Social Responsibility (CSR), which is mandatory in many countries, as a % of the net profits made by the firm. Why are firms doing this? Well, if they make a difference (e.g. build a school for a rural place in a country), they gain good publicity. As consumers are getting richer now, they may choose to buy a good or service from a firm with good reputation. By enacting CSR, firms have a better brand image as they are seen to be kind, caring, and giving back to the community. Is this the truth? No. Firms are doing this for more profits and revenue. They can gain more demand and consumer loyalty by CSR.

Now back to social entrepreneurship. This is different from CSR as CSR can be donating money to a major firm. Right now, businesses focus on whether their acts are moral and ethical, as they may be creating lots of external costs e.g. pollution which decreases health of the labour force. Most businesses are for profit – only non-profits will focus on social entrepreneurship. Trust me, it isn’t highly profitable.

I have a social enterprise myself, from the club I created. I’ll talk about the club and distinguish between social entrepreneurship and donating / charities. They are different, but are similar in some respects. Both need money to operate. How do charities get money? They ask people to donate, which is usually tax deductible if they are a 501c3. How do social entrepreneurs get money? They have to get it themselves, which is a very proactive process. Most people get investors. However, I’m only 15, so I gain money by starting a business and profiting. I use those profits to operate my social enterprise.

Florella continues with “Social entrepreneurs do not have an idea and then apply it. Instead, they go directly to the source of the issue and ask what is needed. Based on that answer, they build their business plans. Social entrepreneurs are often empathetic, bold, open-minded and tenacious”. I totally agree on this, but as I am a student, I’m working with a 501c3, and together we are developing a model on how to alleviate poverty and hunger in a part of rural China. We’re working on small ‘life packages’, containing different proportions of food, sanitation, clothing, etc. and we’re finalising the model. Our solution is very meaningful and may bring a whole village out of the absolute poverty line. However, similar to a charity, we need funds to operate and purchase the food packages. I am the social entrepreneur, while the 501c3 is the charity. The charity of course has more funds as they are tax deductible, and a trusted organisation. On the other hand, I have less funds because I’m gathering it myself, but together we make a good group to help fight against the 1st and 2nd UN SDGs!

Finally, I’d like to comment on Malala, a true inspiration. There is a club at my school based off Malala’s vision, providing more education for girls. Although we live in a rich district in the metropolis Shanghai, there are rural places in China (places which need food packages) where girls don’t go to school. Malala’s story has made the whole world realise how inequality still exists, and keeps reminding us to fight against it. I’m so happy that service learning has just been approved at our school as a mandatory academic subject :).

Also, commenting a little more on Malala – her life has a “conveyor belt” image, as she was brought up in an elitist family who trained her to be the voice for many women. Her success would not have been possible without her father. Of course, she was very determined herself as she was stronger than before after being shot and fortunately surviving. Malala wasn’t a social entrepreneur, but more like a political ambassador / representative. Her Noble Peace Prize win raised more awareness of the issue of inequality, to empower women for education.

In the mere chance anyone stumbles by my post nearly 1.5 years ago, I’d like to make a correction after learning much more about impact investing and creating a business with impact. My previous viewpoints still remain the same (well, CSR is mutually beneficial for both the firm’s publicity and those who are supported by the received money/projects – it’s a win win!). However, social enterprises can be for profit. There are many impact investing firms, mostly venture capitals that invest in businesses that will both generate profits and a positive societal impact. Hence, social enterprises can definitely be profitable.

Also, update to the social enterprise I founded. Co-organised event with Rise Against Hunger where 220000 meals were packaged and distributed in Oct 2018!

Great. This article is excellent. I have read many articles with this topic, but I have not liked. I think I have the same opinion with you. ATTITUDE QUOTES

As stressed by Fiorella Riccobono, Social entrepreneurship is different than charity. I feel the same here as charity is merely done for compassion towards humankind and measured by the donations acquired, social entrepreneurship is done for social change and welfare.

When Fiorella says, “I believe social entrepreneurship is the future of business and policy-making”, I completely agree. The concept of innovative thinking is lacking in this world and by social entrepreneurship, such skills are highlighted.

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essay about young entrepreneurs

This descriptive study determined the challenges experienced by young entrepreneurs during their academic preparation and on the actual professional business experience.  It also determined the success drivers as perceived by young entrepreneurs.  The study identified 14 young entrepreneurs in General Santos City who qualified under the inclusion criteria which included his or her academic preparation such as school business practicum and a formalized legal business of his or her own. Frequency count, percentage and weighted average mean were used as the statistical methods. Based on the results of the study, the entrepreneurial experience acquired from the academic preparations of young entrepreneurs today greatly helped them in their actual business practice. It is supported by the elimination of the top challenges during the academic preparation in the top challenges determined during the respondents’ professional experience. However, despite the existence of such present challenges, young entrepreneurs continue to strive in order to be successful in their respective businesses while upholding ethical practices primarily founded upon by honesty and integrity in delivering quality products and services. It is recommended that Higher Educational Institutions (HEIs) should continue to incorporate relevant performance tasks and/or practicum in their business courses or program in order to achieve reinforced and concrete learning through the assessment of ready-for-actual market products and services. An evaluation of existing subjects with practical requirements must be made focusing on addressing the challenges and problems that dwell on Financial Management, People Management, Stress Management, and Business Leadership and Ethics was also an important recommendation.

Introduction

Young entrepreneurs in today’s generation are generally categorized as millennials.  As the first digitally native generation, these business innovators have seen an era of unprecedented development that impacts their everyday life. It is no wonder that the millennials view of innovation has been rigorously involved in pursuing innovative solutions to solve current challenges. Combine innovation with today’s highly interconnected world, these young entrepreneurs have access to nearly everything needed to enable them to start their own business.

According to Tuffile (2015), Bentley University Director of Entrepreneurial Studies, millennials are realizing that starting a company, even if it crashes and burns, teaches them more in two years rather than sitting in a cubicle for 20 years. They believe, however, that innovation plays more of a role than simply adding to a company’s bottom line. In its Third Annual Millennials Study , Deloitte held 80 percent of millennials view business innovation as positively impacting society and providing a launch pad for new ideas. Perhaps, driven by the need for purpose and meaning in their careers, millennials entrepreneurs tend to see the world through a very different lens than the generation before them.

In a study on entrepreneurship by Conchada (2013), the population of the Philippines is young with nearly 70% aged below 30 years and with an average age of 23.4 years as of 2010. The youth also accounts for the largest portion of the unemployed Filipinos. This is despite the 300 start-ups in the country, most of which were founded between 2012 and 2017 (QBO Innovation Hub and PwC Philippines, 2018). The study further indicated that this group of locals, who are under the age of 35 as of this year, is estimated to amount to 69.5 million of the population. Clearly, there is a large untapped portion of the youth who could have opted to start an enterprise.

The Philippines is an entrepreneurial country which has small and medium-sized enterprises (SME), including micro-enterprises, account for 99 percent of all business establishments and 60 percent of the exporting firms in the Philippines. According to the Department of Trade and Industry, SME’s currently employ about 55 percent of the Philippine labor force and contribute 30 percent to total domestic sales volume.

 Among the current problems that Filipino entrepreneurs encounter today are the inadequate access to technology, financing capital, marketing advice and logistical problems in setting up and maintaining their competitiveness in their community. For this reason, the Philippine government has identified the need to foster entrepreneurial spirit to jumpstart the lagging economy.

To further emphasize the importance of developing entrepreneurship education, a recent study by the Center for Asia Pacific Studies reveals that out of every 100 children enrolled every year, 66 will complete elementary education, 42 will finish high school and only 14 will earn a college degree. A study by Smart Communications adds, only 7.7% of graduates get employed. This means that out of 100 children that go to school, only one will end up getting a job. The scarcity of jobs has further contributed to the exodus of skilled workers abroad, where 2,000 Filipinos leave the country everyday to seek higher income and greater opportunities in career advancement.

In an article by Allison (2016), according to the President and CEO of RFM Corporation, a viable solution to overcome these challenges today is by promoting entrepreneurship and giving Filipinos the proper knowledge and tools to start their own businesses. He further added that the importance of developing an innovative and entrepreneurial culture is a crucial part of the Philippines developed state future. Entrepreneurship directly leads to more businesses, more job opportunities and better quality of life.

 There are 24 million youth in the Philippines today and counting. Of these 24 million, 39% or 9.36 million are part of the labor force while 40% or 9.6 million are living below the poverty line. Encouraging young people to consider business ownership as a viable option is becoming increasingly important given the current trend towards globalization.

In General Santos City, the Department of Trade and Industry in coordination with the local government through the City Economic Management and Cooperative Development Office (CEMCDO) as well as the Board of Investments (BOI) recognizes the potential significant contribution of the youth in boosting the economy as well as in solving various societal issues and problems. Programs and activities such as the DTI Go Negosyo, Yaman Gensan, Young Entrepreneurs Fair and various investment forums and seminars are among the pertinent actions materialized.

In all of these, Higher Educational Institutions (HEIs)have been responsive as well in supporting the programs of the government being primary partners in achieving the objectives of economic and social development. The performance of these institutions is critical enough to ensure the success of economic and social development.The researchers, therefore, are motivated to identify the challenges encountered by young entrepreneurs during academic preparation and professional business experiences which serve as bases in formatting the recommendations for concerned organizations and institutions to better provide the necessary services.

Statement of the Problem

          This study determined the challenges and success drivers of young entrepreneurs in General Santos City. Specifically, this study answered the following questions:

  • college degree; and
  • entrepreneurial experience/s?
  • type of business;
  • start-up capitalization;
  • number of years in operation; and
  • number of employees?
  • academic preparation; and
  • professional experiences?
  • What are drivers of success among young entrepreneurs?
  • What recommendations can be made to better assist the young entrepreneurs in General Santos City?

Research Methodology

          This study used the descriptive type of research. It aimed to describe the challenges and success drivers of 14 young entrepreneurs in General Santos City who met the respondent inclusion criteria of those entrepreneurs who have started their business on at least 35 years old and below, college graduate from schools that offer business practicum, and personally own and run the business with complied government requirements.  The snowball sampling method was used in the study.  It involved primary data sources nominating another potential primary data source used in the research. The statistical tools used in this study were frequency, percentage, ranking and weighted mean.

Summary of Findings

  • Majority of the young entrepreneurs in General Santos City started at the age of 26- 30 years old with equal number from both sexes. All have acquired entrepreneurial experience from school business practicum but most have more experience from family-owned business.
  • Most of the businesses are food-based service-oriented businesses. Those who are into manufacturing are also into food and beverage production. Only few are into non-food service-oriented business.
  • The amount of start-up capitalization are widely dispersed from the least capital of less than P50,000 to as much as P500,000 and more, most of which are into non-food service-oriented business.
  • Most of the businesses are sole proprietorship in form which have been operating for 1-5 years employing less than 10 workers.
  • The top challenge experienced during the academic preparation when entrepreneurs were students then is the lack of knowledge/ experience about starting a business.
  • The top challenge encountered by young entrepreneurs during the professional experience is the physical exhaustion .
  • Young entrepreneurs perceive that the top drivers to success are the quality goods and services, honesty and integrity and passion. Remarkably, few drivers to success were perceived as less than extremely important. These are luck or good fortune, inherent talent, enough entrepreneurial experience and academic excellence.

Conclusions

Based on the results of the study, it can be concluded that the entrepreneurial experience acquired from the academic preparation of young entrepreneurs today greatly helped them in their actual business practice. The lack of knowledge/ experience about starting a business did not surface already during the actual business practice. However, despite the existence of such present challenges, young entrepreneurs continue to strive in order to be successful in their respective businesses while upholding ethical practices primarily founded upon by honesty and integrity in delivering quality products and services. They also believe, in general, that success is not greatly dependent on any fortune, talent, experience or academic excellence but rather a product of hard work and commitment.

Recommendations

Based on the findings and conclusions, the following recommendations were formulated:

  • Higher Educational Institutions (HEIs) should continue to incorporate relevant performance tasks and/or practicum in their business courses or program in order to achieve a reinforced and concrete learning through the assessment of ready-for-actual market products and services.
  • An evaluation of existing subjects with practical requirements must be made, focusing on addressing the challenges and problems that dwell on the following:
  • Financial Management with special concern to capital sourcing, budgeting and maintaining liquidity and solvency;
  • People Management with special concern to hiring and selection as well as effective work delegation;
  • Stress Management (both physical and emotional); and
  • Business Leadership And Ethics.
  • HEIs should have full and active support and participation to intra-institution competitions such as the NDEA Business Congress and inter-institution competitions in both local [e.g. Young Entrepreneurs’ Fair (YEF) under Yaman Gensan and national/international level.
  • The national government through its enabling agency, the Department of Trade and Industry (DTI) in coordination with relevant other relevant agencies and government units such as, but not limited to, the Board of Investments and local government units, implement and/or support programs which objective is to create opportunities as well as aid young entrepreneurs in order to encourage entrepreneurs starting at a young age.
  • A formal and recognized association of Young Entrepreneurs in the locality must be incorporated to boost their morale and serve as a body which addresses various issues and concerns affecting its members.
  • Further study should be made extending its scope to include young entrepreneurs from other parts of the region most likely in SOCCSKSARGEN.
  • Methodology could be improved by considering the use of systematic questioning techniques that provide more directly observable results (i.e. adoption of questionnaires from refereed research journal).
  • Focused Group Discussions could be intensified including more diversified respondents by profile (i.e. by type of business, by form of business organization, by size – micro, small, medium or even large enterprises).

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Discussion Questions

Explain the difference between an idea and an entrepreneurial opportunity. Why is it important to recognize if your idea is truly an entrepreneurial opportunity or only an idea?

Is now a good time to start a business? Why or why not?

If you were thinking about starting a clothing store for teens and young women in your hometown, what census information do you think would be useful to you?

What new patterns or behaviors have you noticed within your society or the country’s society?

What unused resources are present in your own life that could be translated into a shared economy idea for a new venture?

What spin-off ideas can you think of that support a gig economy? For example, what services or products might gig employees value or gig employers value?

What are some of the reasons for business failures? If you were starting a business, what are some actions you could take to increase your potential for success?

Many entrepreneurs like Chris Johnson, who invented the ramen noodle cooker and Palms Barber had ordinary problems they were trying to solve. What are some examples of ordinary problems you could solve if you could invent a product?

How do social enterprises like Bee Love help the community? What problem was Palms Barber trying to solve? What problems did the company end up solving?

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Young Entrepreneur Essay

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elijah muntanga

essay about young entrepreneurs

Robert Smith

Many entrepreneurial narratives act as inspirational tales, propagating valued stories at an ideological and mythological level. By participating in them we expose others to the inspirational power of the narrative and encourage the process of emulation. Potential outcomes include the perpetuation and regeneration of core ideological elements. Exposure to narrative is a process of social construction and re-construction that begins in childhood. Yet, entrepreneurship is essentially an adult paradigm. Consequentially, children may be channeled into individual occupations whereby few emerge as entrepreneurs. Unless one is exposed to the power of the entrepreneurial narrative, as a result of familial fables, or by being raised in an entrepreneurial family then by the time one makes a choice to pursue an entrepreneurial career path - life styles and alternative career paths are already established. The entrepreneurial narrative thus eludes the children. This is obviously detrimental to both society and the individual. This paper describes action-based research to address the problem.

South Asian Journal of Business Studies

Ameesh Samalopanan

PurposeThough extant literature has mapped various stages of start-up enterprise growth, there is limited research on the phases that an entrepreneur traverses before the enterprise is started and established as a venture. The paper attempts to understand the lived experiences of young Indians as they negotiate the entrepreneurial path.Design/methodology/approachQualitative method, where primary data were collected using in-depth interviews of 15 start-up entrepreneurs. These narratives were compared with Bansal's descriptions of entrepreneurs in her book “Connect the dots”. The interview transcripts and the detailed descriptions were analysed for emergent themes.FindingsResults indicated that there are five distinct stages in the development of a start-up entrepreneur; namely – pre-entrepreneurial stage, inflexion point, cocoon period, initial stage, crisis stage and, depending upon the success factors and support received during crisis stage, either a success stage or failure ...

Journal of Family Business Management

Purpose– The purpose of this paper is to explore the under researched interface between entrepreneur and family business stories and in particular the form and structure of second-generation entrepreneur stories. It illustrates how second-generation entrepreneur stories can be (co)authored to narrate an alternative entrepreneurial identity within a family business setting.Design/methodology/approach– From a desk based review of relevant literature a number of conceptual storyline models are developed and these are used to better understand second-generation entrepreneur/family business stories.Findings– The authorial process allows individual family members the freedom to craft contingent stories which fit their circumstances. The paper also examines the research process of co-authoring research with respondents and how this adds value to the process. The findings are mainly relevant to theory building.Research limitations/implications– There are obvious limitations to the study in ...

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University environments are natural breeding grounds for creativity and many Malaysian universities and colleges have embraced entrepreneurship. This paper highlights the success story of a young entrepreneur, Firdaus Putra and his venture into the world of exclusively designed shoes. While still a TESL student at the Faculty of

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Tennis Champion Coco Gauff Has This Advice To Entrepreneurs: ‘Be Delusional’

Coco Gauff joined Forbes senior writer Jabari Young to discuss how she’s expanding her business empire and a new extension with shipping giant UPS.

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W hen it comes to ideas, don’t be afraid to be delusional.

That advice comes from tennis star Coco Gauff.

“I think delusional is great,” Gauff tells Forbes . “All of the greatest athletes and greatest artists have to have a little bit of craziness and delusion. Having a little bit of craziness in your goal is kind of healthy.”

Ranked second in the world by the Women’s Tennis Association , Gauff, 20, is taking her own advice she expands a business enterprise beyond tennis. Gauff discussed her portfolio while preparing for Wimbledon, where she advanced to the third round of the tournament before being ousted on Sunday by 19th-seeded Emma Navarro. The loss comes after Gauff partnered with 27th-ranked Katerina Siniakova to win the women’s doubles at the French Open in June. The win netted her roughly $641,000.

After Wimbledon, Gauff will play in the Paris Olympics then defend her US Open women’s singles championship in New York. Forbes estimates Gauff made $21.7 million in 2023 . That ranks third among the highest-paid female athletes.

In between tennis, Gauff has other business to handle.

On Tuesday, she extended a partnership with shipping giant UPS to create a campaign intended to uplift small businesses. Entitled, Coco vs. The Doubters, the promotion spotlights Generation Z entrepreneurs who overcome the difficult odds of operating a profitable business. UPS trades on the New York Stock Exchange with a $117 billion market cap.

Anime Inspiration: Coco Gauff incorporates her love for anime into the UPS campaign to motivate small business owners. “I like how fictional stuff can relate to the real world,” she says of the Japanese-inspired cartoons.

“I realized a lot of (negative) things that are told to small business owners are also told to athletes,” Gauff says. Of her earnings, Gauff made $15 million off the court in 2023, Forbes estimates. She has deals with companies including:

  • New Balance
  • Carol’s Daughter
  • Naked smoothies

“I like to partner with things that are an extension of myself,” Gauff says.

Establishing A ‘Timeless’ Empire

Raised in Atlanta, Gauff started playing tennis early in her childhood, turned professional at age 14, and quickly offered a stunning moment in the sport when she upset Venus Williams in the first round of the 2019 Wimbledon Championships. Last year, Gauff won her first Grand Slam title when she captured the US Open.

Naturally, that victory attracted corporate partners who swarmed her with offers, which Gauff mostly swatted down. Instead, she keeps brand deals limited to avoid burnout.

“Tennis is my priority,” Gauff says. “Whatever interferes with that has to go.”

But Gauff knows more wins will bring more business. Asked how she wants to leave a legacy off the court, Gauff explained using the 2008 Wimbledon tournament.

Roger Federer before his First Round match against Dominik Hrbaty in the 2008 Wimbledon Championships.

Gauff recalls tennis icon Roger Federer’s choice of clothing at the tournament stood out. Federer wore an extra creamy Cardigan sweater with dark gold trimmings that extended from the collar to the shirt’s bottom button before his matches. The bold fashion statement astonished the London audience. More importantly, it symbolizes how Gauff wants to establish her venture post-tennis.

“That’s one of those things that are timeless,” Gauff says of Federer’s attire. “It’s always going to be iconic no matter who is looking at it or what age they are. – “I want to make sure that things I do, not only on the court but off-court, appear timeless.”

Capital Gains: Watch the video to hear more about how Coco Gauff is building out her business and why she’s frugal with money.

Jabari Young

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Six Imperatives To Build Consumer Trust: AI Is One Of Them Businesses that prioritize customer behavior analysis are better at retaining their consumers and building trust

By Shivani Tiwari Jul 12, 2024

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Knowing your customers' behavior is crucial for forming strategic marketing plans to fulfill consumers' needs. It also helps in tapping into new markets and customer bases. This becomes crucial when the market is dealing with many competitors in every industry and sector. In the last decade, the market has witnessed significant changes in consumer behavior due to climate change, information technology, increasing global market accessibility, technological advancements including Artificial Intelligence (AI) and Generative Artificial Intelligence (GenAI), increasing consumer spending, and the rise of more middle-class households in India.

Additionally, in recent years, several Indian startups and well-established companies have started tapping into Tier 2 and Tier 3 markets. Hence, all these changes have led to modern solution approaches and data-driven marketing strategies. Businesses that prioritize customer behavior analysis are better at retaining their consumers and building trust. Recently, PwC released its survey on the 'Voice of the Consumer (2024), Indian perspective,' in which it highlighted six imperatives that can help building consumer trust.

Safeguarding Personal Data

Consumers are now aware of their data privacy and where their data is being used. Industries that aim to build solid trust among its consumers must provide robust data protection mechanisms while leveraging data to enhance personalized services and customer experiences. Although a big majority, 66 per cent consumers are willing to share their data to get more personalized services, and 74 per cent are happy for their data to be used to deliver useful features and services. Meanwhile 83 per cent of consumers prioritize knowing their devices are keeping their information private. The top factors that influence trust among consumers are—protecting customer data (82 percent), offering high-quality products and services (80 per cent), and clear communication (77 per cent). Additionally, data showed that consumers trust technology and healthcare companies with trust scores of 7.55 and 7.42, respectively, while social media companies are the least trusted.

Promoting Health and Well-being

The emphasis on wellness and sustainability is growing at an unprecedented pace, which is a positive development. Keeping the current requirements of consumers in mind, companies should create product portfolios that cater to consumers' health and nutrition needs, as well as sustainable food production. A survey indicates that 69 per cent of consumers expect to increase their consumption of fresh fruits and vegetables in the next six months, and 75 per cent of consumers proactively seek out information on the sustainability of food products. Additionally, 38 per cent of consumers are most likely to rely on health and fitness experts for advice on health and well-being. According to the data, 78 per cent of millennials prefer an independent sustainability score on food labeling, compared to 66 per cent of GenZ.

Balancing Social Media Use

Modern marketing cannot be completed without mentioning social media. For brand engagement and sales, social media marketing plays a pivotal role. However, it also raises credibility concerns among consumers. As per data, 81 per cent of consumers use social media to seek reviews and validate a company before purchasing a product. This indicates that consumers are heavily influenced by advertisements on social media channels. Additionally, 77 per cent of consumers discover new brands through social media, but 76 per cent are concerned about their privacy and data sharing on these platforms. Despite these concerns, 58 per cent of consumers have purchased products directly through social media, even though it is ranked as the least trusted industry.

Enhancing the Purchase Journey

To meet consumer expectations of value and satisfaction, companies should focus on providing a seamless shopping experience across all touchpoints. According to the data, 56 per cent of consumers in India frequently purchase from physical stores, compared to 34 per cent globally. Additionally, 62 per cent of consumers engage with sales people for product discovery, while 53 per cent turn to online browsing. Affordability remains a top priority for 37 per cent of consumers, and it also leads to brand switching. Furthermore, 41 per cent of consumers indicate that the availability of mobile or contactless payment solutions would encourage them to shop in-store, especially young millennials, who rank mobile payment/contactless payment solutions slightly higher at 45 per cent compared to 41 per cent for the rest of Indian consumers. Companies should integrate technologies such as Augmented Reality and Virtual Reality for product visualization, contactless payment solutions, personalized offers through apps, and smart kiosks for information.

Connecting with Eco-conscious Consumers

Now that consumers are aware of the current condition of the environment, they are looking for brands that demonstrate a commitment to positive environmental impacts. Survey data shows that 93 per cent of consumers have noticed climate-related disruptions in their day-to-day lives, and 60 per cent of consumers are changing their purchasing habits by buying more sustainable products. Additionally, consumers are willing to pay 13.1 per cent above the average price for sustainably produced or sourced goods. In India, 46 per cent of consumers perceive climate change as the greatest threat over the next 12 months. Furthermore, 43 per cent of consumers said they are more likely to buy from brands that actively conserve water in their operations, 41 per cent prefer brands that use environmentally friendly packaging, and 36 per cent are motivated to purchase more from brands that reduce waste and prioritize recycling in their processes.

Companies should start integrating modern technology to build more sustainable and efficient supply chains, minimizing environmental impact while maintaining operational efficiency.

Incorporating AI Responsibly

Several traditional Indian companies have started integrating Artificial Intelligence (AI) into their operations. However, achieving full capacity will take time. AI offers opportunities for operational efficiency and enhanced customer interactions. Nonetheless, it is crucial to maintain a human touch, particularly in complex and personal services. Data shows that 57 per cent of consumers would trust AI to support them with low-risk activities, such as getting product information ahead of a purchase or providing product recommendations. Still, they prefer human interaction for more complex services. Additionally, consumers are concerned about AI's potential risks, including cyber threats and data privacy breaches, with 86 per cent of consumers expressing concerns about the future developments of generative AI (GenAI).

Survey data suggest that while adopting AI for internal improvements and consumer-facing tasks, companies should prioritize human oversight to address complex or unresolved issues and develop strategies for responsible Artificial Intelligence.

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Friends of CV Link ‘Young Entrepreneurs Award’ to be hosted months ahead of path’s completion 

essay about young entrepreneurs

The CV Link, a 40-mile pathway connecting Palm Springs to the City of Coachella, is just months away from completion.

The Coachella Valley Association of Governments (CVAG) broke ground on the project in 2021, with substantial completion expected by the end of 2024.

CV Link aims to provide eco-friendly travel options for residents of the valley, encouraging biking, running, and the use of low-speed electric vehicles.

Friends of CV Link, a local nonprofit dedicated to promoting a healthy lifestyle and environment through the enhancement of CV Link, hosted an award ceremony today for a young entrepreneur.

The competition encouraged middle and high school students from across the Coachella Valley to submit business plans for innovative services or solutions related to the CV Link pathway.

Stay tuned to News Channel 3 for updates on the Friends of CV Link 2024 Young Entrepreneur of the Year.

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COMMENTS

  1. Entrepreneurship by Young People

    Young people's entrepreneurship alludes to the ambitions and endeavors made by people under 35 to create and operate their businesses.

  2. Why young entrepreneurs are so important

    Regardless of their language, level of education or nationality, young people see entrepreneurship as a means to achieve social and economic development. In order to succeed their start-ups, create jobs, and have a significant impact in their home countries, the serious commitment from their governments, and the private and financial sector in ...

  3. Empowering Youth Entrepreneurship: Essential Strategies for Success

    Youth entrepreneurship is surging, driving economic growth and innovation, and providing young people with financial independence and invaluable life skills. An entrepreneurial mindset coupled with creativity, risk-taking, resilience, leadership, and communication skills is vital for young business success. Support systems, including education ...

  4. The Secrets of Highly Successful Young Entrepreneurs

    The researchers discovered that young serial entrepreneurs, those in their mid-20s to early 30s, realize higher returns as they open their second business. Sales at younger founders' first firms averaged $92,750 and $169,000 at their second, a jump of 82%. While sales at older founders' first firms started off higher, at nearly $125,000 ...

  5. 10 Successful Young Entrepreneurs

    Some successful young entrepreneurs start really young. Whether inspired by family, events, or a desire to have fun, these young entrepreneurs set out to tackle the world of business.

  6. Generation Hustle: Young entrepreneurs got creative during the ...

    These young entrepreneurs got creative with problem solving and launched their ventures during the pandemic. This is part of CNBC's College Voices series.

  7. PDF Youth entrepreneurship: concepts and evidence

    Entrepreneur-ship education and training programs for young people who are not going to be entrepreneurs immediately (or who will engage in mixed live-lihoods while they work on their business) will also benefit from incorporating personal entre-preneurial pathways planning and building sup-port networks; such approaches can help young people ...

  8. Researchers examine the secrets of successful young entrepreneurs

    These are questions that the Young Entrepreneurs Study (YES) project has been investigating. YES, a three-year, longitudinal study on entrepreneurship development among young adults, is a partnership between the Stanford Center on Adolescence and the Institute of Applied Research in Youth Development at Tufts University.

  9. PDF Young Entrepreneurs & the Challenges and Barriers while Scaling Up

    Understanding the factors that contribute to young entrepreneurs' success is crucial to fostering entrepreneurship and economic growth. We have examined research papers dating back to 1990. This paper aims to explore the success factors of young entrepreneurs under the age of 35 by focusing on their business and personal skills.

  10. (PDF) Youth entrepreneurship development: A review of literature and

    In this paper, the results of ten-year research on youth entrepreneurship are reviewed. In this study 5670 participants-high school students, and university students from the Republic of Serbia ...

  11. (PDF) The importance of Youth Entrepreneurship and Self-employment

    PDF | Abstract: It is now widely accepted that there are many good reasons to promote entrepreneurship among young people. While caution should be... | Find, read and cite all the research you ...

  12. So You Want to Be an Entrepreneur?

    Emily was named among the Most Important Entrepreneurs of the Decade by Inc. magazine, and has also been recognized as a Top Female Founder by Inc. and one of Entrepreneur's Most Powerful Women ...

  13. Entrepreneurship Essay Examples for College Students

    Browse through Entrepreneurship essays and find over 35k essay examples in our database | ️ Successful graduation with WritingBros!

  14. Pros and Cons of Being a Young Entrepreneur

    What are the biggest obstacles and assets for young entrepreneurs? Unwrapped, inc. founder Josh Reeves answers that the biggest obstacle it not knowing how to manage all the priorities. Clara Shih, founder of Hearsay Labs, believes that being a young entrepreneur has its advantages because you can highlight your ability to solve problems from a fresh perspective. Steve Garrity, of Hearsay Labs ...

  15. The Importance of Young Entrepreneurs in Society

    The Importance of Young Entrepreneurs in Society. Every young person should be an entrepreneur, because it gives him the opportunity to build his own future, set an example in society, and help his family since he is young. 1. Experience for the future. 2.

  16. 10 Advantages and 10 Disadvantages of Young Entrepreneurs

    Young entrepreneurs possess inherent advantages in rolling out their products and services - think back to the 20-something genius of two future billionaires: Mark Zuckerberg, Facebook's founder, and Sara Blakely, the visionary of Spanx undergarments. But youth has its downsides, too. Here's a look at 10 pros and 10 cons for aspiring entrepreneurs who have yet to sprout gray hair.

  17. Exploring Social Entrepreneurship: 'My Generation Is Full of Activists

    In my experience, social entrepreneurs are individuals who draw on innovative business tactics to create solutions to societal issues. Social entrepreneurs combine government, nonprofit and traditional business practices in order to create a sustainable business model that is not only profitable, but also beneficial to the social sector.

  18. 21 Success Tips for Young and Aspiring Entrepreneurs

    21 Success Tips for Young and Aspiring Entrepreneurs Follow these wise words from inspirational business leaders to become the entrepreneur you were meant to be.

  19. Challenges and Success Drivers of Young Entrepreneurs in General Santos

    This descriptive study determined the challenges experienced by young entrepreneurs during their academic preparation and on the actual professional business experience. It also determined the success drivers as perceived by young entrepreneurs. The study identified 14 young entrepreneurs in General Santos City who qualified under the inclusion criteria which included his or her academic ...

  20. Online Business Among University Students: Benefits and ...

    PDF | On Jan 1, 2020, Nur Aqilah Husna Rosli and others published Online Business Among University Students: Benefits and Challenge and Successful Story of a Young Entrepreneur | Find, read and ...

  21. Essay On Youth Entrepreneurship

    Essay On Youth Entrepreneurship. 890 Words4 Pages. An effective way for any society or economy to remain young and sustainable is through youth's involvement in business and society. Human beings and young people in particular are more likely to embark on business venture in places that are poorer or with high rates of unemployment than in ...

  22. Ch. 5 Discussion Questions

    This free textbook is an OpenStax resource written to increase student access to high-quality, peer-reviewed learning materials.

  23. His High School Project Would Solve a Problem Worth Billions

    Tremsin says adaptability and continuous learning are essential for young entrepreneurs pursuing their big ideas.

  24. (DOC) Young Entrepreneur Essay

    Young Entrepreneur Essay Ever since I was two or three years old, I was very inquisitive about business because my father was and is an entrepreneur. My father had several small businesses and he finally settled on air-conditioning.

  25. Innovating Under Fire? Entrepreneur-Investor Conflict and the

    This research investigates the impact of task conflict between entrepreneurs and their investors on young ventures' innovation radicalness and speed. Due to the mutual dependence and close strategic collaboration of entrepreneurs and investors, task conflict within this dyad is frequent, and its prevalence has been linked to a severe impact on the overall innovativeness of young ventures ...

  26. Capitals and Self-Efficacy: Catalysts for Entrepreneurial Intention of

    Furthermore, the relationship between these capitals and entrepreneurial intention is mediated by entrepreneurial self-efficacy. This research offers a deeper understanding for potential young entrepreneurs, providing valuable insights into the current discussions of entrepreneurship studies.

  27. Coco Gauff Has This Advice To Entrepreneurs: 'Be Delusional'

    Coco Gauff joined Forbes senior writer Jabari Young to discuss how she's expanding her business empire away from tennis.

  28. Young Entrepreneur's Market offers a unique opportunity to ...

    One event coming up in the Hub City is giving young people a space to showcase their budding businesses.

  29. Six Imperatives To Build Consumer Trust: AI Is One Of Them

    Six Imperatives To Build Consumer Trust: AI Is One Of Them Businesses that prioritize customer behavior analysis are better at retaining their consumers and building trust

  30. Friends of CV Link 'Young Entrepreneurs Award' to be hosted ...

    Friends of CV Link, a local nonprofit dedicated to promoting a healthy lifestyle and environment through the enhancement of CV Link, hosted an award ceremony today for a young entrepreneur.