Many young people dream of becoming entrepreneurs, a survey commissioned by the Ewing Marion Kauffman Foundation shows.
Forty percent of the nation's youth – those between 8 and 24 – either want to start their own company or have already done so. And a majority of young people believes that working hard in an entrepreneurial venture will lead to success.
Notably, young people who know an entrepreneur are more likely to have already started or want to start their own business, the Kauffman Foundation discovered.
The Foundation's findings suggest that young people need to be exposed to entrepreneurs and the benefits of owning one's own company, Tom Walker, the head of Oklahoma startup-mentoring firm i2E Inc., wrote for the Oklahoman this week.
"Contact with business owners and entrepreneurs, and a strong work ethic, can fan the spark of entrepreneurship," he says.
Encouraging budding entrepreneurs is good for whole communities, as well as individual young people. The Small Business Administration estimates that 65 percent of the net new jobs that appeared in a recent 15-year period were created by small companies.