Pitfalls of Being a Young Entrepreneur

This post originally appeared on blog.startupdigest.com.

The following  is a guest post by Maggie Kimberl, a Spirits Journalist, Content Manager at NowSourcing, Independent Bourbon Culture Expert, and Web Editor.

Being an entrepreneur is never easy, but the younger you are the more obstacles you will face. It’s hard to get bank loans and credit cards when you are young, and if you are under 18 years old, you will be unable to use most credit card processing and payment systems to get paid for your work. You’ll face many forms of age discrimination, including suppliers who may not take you seriously because of the myth that all young people are lazy and entitled. It will also be very difficult to run a business while you keep your grades up and keep your friendships alive, but don’t be tempted to give your friends jobs so you can all have fun working together – you need to build a team of employees who share your goals.

The advantages to starting a business at a young age are also there. You haven’t yet had ages old business wisdom drilled into your head, so you are free to try new things. You have less to lose asset-wise, which can be very freeing. And you’re a digital native, which means you’re more likely to try new software and gadgets that may give you the cutting edge. Learn more about being a young entrepreneur from this infographic.

Pitfalls Of Young Entrepreneurs
Source: Insurance Quotes

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