"Most adults look back on their childhood earnings and think of pocket money, Christmas gifts or a Saturday job. These days, however, children as young as seven are already fluent in entrepreneurship, running side hustles, talking about profits and losses and razor-sharp in their focus on honing sophisticated business skills. Research from the children's debit card company GoHenry found that two in three young people want to be entrepreneurs when they were older,"
"This year, I thought: I need more money,' Levi says. He asked his parents, who are both songwriters, to lend him some money for a 3D printer, using some techniques he learned from Shark Tank. I said to my parents: If you lend me some money to buy a 3D printer, [at first] you'll get all the profits from the merch I'll make,' he says. But once you've made your money back, you get 20% of the profits and I get 80%"
Children increasingly start businesses from as young as seven, learning entrepreneurial skills via digital platforms, social media and reality TV. Two in three young people express desire to be entrepreneurs and one in eight report earning more than £1,000 from side hustles in the last year. Young entrepreneurs run ventures such as selling drawings, reselling collectibles and beverages, and using 3D printing to make merchandise. Practical deal-making, profit-sharing and reinvestment strategies are common. Parents sometimes fund start-ups with repayment and profit-split agreements. Platforms like eBay, YouTube and TikTok provide marketplaces and learning resources that accelerate early business activity.
Read at www.theguardian.com
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