Young Entrepreneurs Hold the Key
Sunday, September 25, 2011
Entrepreneurs are an integral component of maintaining the American dream. The Small Business Administration has stated that seven out of ten new jobs are created by small businesses, and they account for 64 percent of the jobs created in the past 15 years. Approximately half of the nation's private sector workforce is comprised of small business employees, and aside from agriculture, small businesses generate approximately half of America's Gross Domestic Product (GDP).
When looking at the innovations that have shaped the face of entrepreneurship in the past decade, the projects instigated by young entrepreneurs stand out above the rest. Facebook has revolutionized social interaction, internet use, and the field of marketing as a whole. Many additional social media platforms have used the foundational concept of Facebook as a springboard for their business model. Mark Zuckerberg was still an undergraduate at Harvard University when the site was launched, and at the tender age of 30, he has a net worth of $13.5 billion.
Mashable's Pete Cashmore is also only 30 years of age, and he serves as a barometer for the climate of technological advancement. His site offers news on anything from the latest Facebook or Foursquare software update to the latest in mobile app technology and cell phone service upgrades. His almost 2.5 million following on Twitter speaks to his influence in the world of technology.
Also among the list of 30 year old millionaire entrepreneurs is YouTube's Chad Hurley. YouTube revolutionized the world of video sharing. Because of the site's ease of use, anyone with access to a computer and a video camera can now post a file online that can instantaneously be accessed worldwide. This has led to the rise of internet-born fame, with videos going "viral" and affecting the world of pop culture. The gateway to stardom is no longer in the sole ownership of Hollywood casting directors and Nashville record labels.
The heart of untapped potential for American success lies in the hands of today's teenagers and twenty year olds. Job creation and expansion are dependent on the up and coming revolutionary entrepreneurial ventures. Countless unrealized ideas are yet to be invented by young entrepreneurs, and with the rapid advancement of technology and the internet, the business world's future is limitless. Which of today's youth will be the next face of American innovation? We hope that ours will be among that list.