Student led small businesses have significantly increased in recent years. The flexibility to make decisions, the high risk/high reward environment, and the opportunity to follow their ideas are motivating many young and new-age student entrepreneurs to explore the startup industry. Let’s examine the origins of this trend and how you might launch your own business.
Freedom to take decisions
Being your own boss allows you to enjoy the freedom to make your own decisions and take responsibility for them. A salaried individual in an organization may not be able to create something as large from scratch. Making your own schedule and not having to answer to anyone are two benefits of freedom.
High risk and high reward
Many young student entrepreneurs are being motivated to launch their businesses by the success stories of numerous unicorns receiving billions in venture capital investments. Even though starting your own business might be hazardous, it can also be rewarding. Many people are motivated to decide to launch their own business because of the high risk/high payoff scenario.
Freedom to pursue their dream
Thanks to the corpus their parents have built, which can cover their basic necessities, many young entrepreneurs have the freedom to pursue their aspirations. They are free to follow their dreams and take chances thanks to this.
Supporting the community
Many young business owners have a strong desire to use their companies as platforms to aid the less fortunate. These kind people see launching a small business to be a way to bring about change. Instead of being motivated by financial gain, they want to improve the world.
Turning a hobby into a career
A few young people are turning their interests into careers because they see the huge potential for wealth creation and positive social impact that their pastime as a business offers.
Challenging the status quo
After a few years of employment, young people who later pursue their master’s degrees may feel that the field in which they previously worked isn’t doing things properly and that it’s their responsibility to alter the status quo. They sense a need for innovation.
Disrupting current norms
For young business owners, disrupting established standards can be a strong motivator. Also, it might be quite helpful for customers who desire higher-quality goods or faster service. Young entrepreneurs can launch their own firms by addressing urgent business issues and satisfying client wants.
Support from the Indian government
The Indian government has introduced the Startup India Action Plan, which provides assistance to accredited businesses through measures including tax exemption, mentoring, and incubation. Under various programs, the government has set up Rs 960 crores for startup capital and an extra Rs 828 crores for infrastructure.
Young and modern student entrepreneurs are being encouraged by this to explore small enterprises and startups.
Research and learning from others are the greatest ways to get started if you’re interested in starting your own business. Follow the #StudentsPoweredBySinglebag campaign to access networking opportunities, entrepreneurial advice, and e-commerce tips.
Your startup idea is something you can make a reality if you have the appropriate attitude and are persistent.