A Study Done By The Kauffman Foundation Essay

952 Words Aug 12th, 2015 4 Pages
In a study done by the Kauffman Foundation in 2014, they found that 25.8% of people over the age of 55 are new entrepreneurs – a huge leap in comparison to the 14.8% of people in this same category starting business in 1996. Proving once again age is nothing but a number – even more so when it comes to entrepreneurship. But what about the entrepreneurs on the opposite end of the spectrum, can you be too young to start a business? The 40 impressive kids – and millionaires- on INC list of Millionaires Under 20 are proving that you can never be too young to capitalize on a good idea.
Gone are the days where the extent of a child owned business is a lemonade stand on their front yard – today’s young entrepreneurs are store owners, inventors, and tech gurus. They are not confided to their block or to selling to friends and family members, but instead some export all over the world. At an age where their peers were still collecting allowances, kids like Ashley Qualls turned down her first million dollar offer at 14!
Unlike their adult counterparts, who might start a business out of necessity, the reasons that these kids give for starting a business can’t be pinned down to any one factor. The kids have cited reasons ranging from boredom, wanting to raise money for a needy cause, or a just hoping for extra money. After a suggestion from a friends parent to try to make a game instead of playing them, Robert Nay- a self-taught coder - decided to attempt to make an iPhone app. He…

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