Economics

Introduction

Objective of Study

Methodology

Interpretation

Conclusion

en·tre·pre·neur  (ntr-pr-nûr, -nr)

n.

A person who organizes, operates, and assumes the risk for a business venture.

Entrepreneurs,  in the purest sense,  are those who identify a need—anyneed—and fill it. It’s a primordial urge, independent of product, service, industry or market.

Young entrepreneurs have come a long way from running lemonade stands and delivering newspapers. Today, young people as young as 13 years old are starting and running full-fledged service and manufacturing businesses.

Indeed, to us, the essence of entrepreneurship is the freedom to do what you like. Some entrepreneurs may spend a few hours a week on their businesses, while others may spend every waking moment trying to make their businesses successful. The bottom line is that no matter how much time they spend on their businesses, they feel a sense of pride and a feeling of accomplishment in the end. This sense of fulfillment is more rewarding than money. Some people call this type of fulfillment, "Psychic Income".

Every summer, millions of young people go through the depressing process of trying to find a job. Some of them are fortunate enough to find challenging employment that gives them the opportunity to develop skills that they can use later in starting their own businesses. However, most of them end up working at the local hamburger joint or the local grocery store, making minimum wage. If they are fortunate enough to get jobs that pay minimum wage, they won’t even keep enough money after taxes in one hour of work to afford movie tickets. In addition, such jobs do not contribute much to their development as entrepreneurs. Sure, they can make a few dollars, but these jobs are not meant to encourage any entrepreneurial behavior.

Rather than working in these mindless jobs, young people are better off starting their own businesses or getting a job that will teach them skills they can use in...