Lack of summer jobs is driving many teens to entrepreneurship

Many teens who get out of school find seasonal jobs to earn some extra cash. But because the job market has left fewer of those positions open, many teens are forming a company instead. ABC News reports that for some teens, starting a small business – with the support and guidance of their parents – may be their best option.

Instead of delivering pizza or running a theme park ride, the news source reports young entrepreneurs are able to learn money management and business skills. Starting a business can also look very good on a college application.

But that doesn’t mean students are ready to be CEOs right off the bat. ABC reports that keeping parents interested in the project is an important step. Having a parent’s assistance throughout the venture can help make sure the project is a success – even if it’s not immediately profitable.

CNBC says that the lack of summer jobs for teens can be traced back to the overall job market. Many of the positions that would have been filled by students have already been taken by older workers who will take any position just to earn money. The market has also been hurt by families cutting back on leisure activities such as amusement parks – where many find seasonal work.ADNFCR-3052-ID-19859784-ADNFCR

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Incfile Team

The Incfile team is here to provide small business owners and entrepreneurs with the tips needed to to form an LLC or corporation, and grow your business.
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