In this day and age, a little bit of support from someone’s fellow classmates can go a long way. This can apply to that particular student entrepreneur who has their own business and is hoping to gain loyal clientele, or people who will support them with their high and lows. More and more people are using corporate companies for more affordable products and yet people are unaware that their classmates are beginning their journey.
According to the Statistica website, people between ages 20 to 34 years old make up 24.4 percent of entrepreneurs in 2016. Compared to 1996, this is 10 percent lower than it is today.
Many businesses fail according to the Bureau of Labor Statistics of 2017. Fifty percent of small businesses will survive five years or more and one-third will survive 10 years or more.
The one main argument people make about why they can’t always support a small business is because it can be too expensive for them. This is valid, but people do not have to support a business simply by buying something. They can use social media and give shout outs and tell their followers about that entrepreneur. College students especially can reach out locally and spread the business’ contact information in order to help them. Or better yet, there should be a day where local students entrepreneurs are invited to Skyline to sell their products at one large fair.
Being local and attempting to reach out to fellow students can bring the community together, and help with networking and helping the business grow.
According to Fit Small Business website, businesses provide 55 percent of jobs in the United States and 66 percent of all new jobs since the 1970s.
Another valid point is that buying products from Amazon is easier. This is true, but it contributes to a multi-billion dollar industry versus the entrepreneur who is investing their own time and effort to put forth something they believe in that makes them happy and can contribute to society in many ways.
If college students were more supportive of smaller businesses, they could grow bigger.
There are certain resources offered at certain education institutions such as Entrepreneur Certification, that does help entrepreneurs learn about financial backings, branding and to become more successful.
Investing in a student’s local business entrepreneurship as a fellow student makes it a more intimate community to know that people believe in you. Yes, there’s the entrepreneurship program, but to know that people are invested in it helps with confidence.
From personal experience, having people know about Etsy pages selling homemade products helps the entrepreneurs as well.
College students supporting each other as entrepreneurs may inspire others to start their own businesses. It is a bold feat in a world of expanding conglomerates to start something small all by yourself, and there are powerful lessons to be learned along the way.