The future of entrepreneurship is going to change massively over the next few years and significantly more so over the next decade. There is already a big movement towards web services and web applications being the norm for any type of business.
It is becoming increasingly more normal for a lot of these web applications to be run by young entrepreneurs and the average age of founders is decreasing rapidly. Following this trend along with the increase of teenagers who are learning to code, in the next few years there is likely to be a surge of web applications founded and run by teenagers. This means that the next multi-billion dollar startup like Instagram or Facebook is likely to be the product of a teenage entrepreneur.
Here are my 4 predictions on the future of entrepreneurship for teens:
Today’s Teens (Tomorrow’s Entrepreneurs) Who Know How to Code Will be the Winners
The young entrepreneurs who know how to code can quickly turn their ideas into products. For example, according to For example, according to Humberto Valencia, Manager, Interactive marketing and digital platforms of belairdirect: “if several young entrepreneurs have the idea of creating an app to make shopping for car insurance more efficient, the teen who can code the app the fastest and be first to market will be the one who comes out on top.”Entrepreneurial teens today who invest in learning how to code will be the winning entrepreneurs of tomorrow because they’ll be the ones able to build things the most quickly.
The Average Age for Entrepreneurs Will Decrease While the Number of Entrepreneurs Increases
As the costs for starting your own company continue to come down, because of technological advances, and the number of companies that offer services to startups which let them outsource administrative work rises, it will become easier for young people to become entrepreneurs.
Being an Entrepreneur is the Ideal Job for Today’s Average Teen
Today’s teens have short attention spans, crave constant stimulation, and can’t sit still. An entrepreneur’s day-to-day duties meets those needs exactly – You’re constantly juggling multiple tasks, talking to customers/partners, and stimulated by the riskiness of your environment. Today’s teens are definitely not well suited for the standard monotonous corporate jobs
Culture is Changing Faster than Ever
Only today’s teens will be able to relate to tomorrow’s teens, and that will give them a huge edge as entrepreneurs. New apps and trends come out daily. It’s tough for seasoned (older) entrepreneurs to keep up with advancements in technology and relate to the younger market today. But today’s teens are deeply in touch with that. They’ll be the ones making the hit websites and apps for tomorrow’s young markets.