If you want to join the ranks of Britain’s young entrepreneurs, you are not alone.
Around a staggering 5.8 million new businesses were started last year and many of these new ventures were spearheaded by those under 25. But what to you need to do to become a young entrepreneur and can you really get rich quick? Here are some ideas to get you on the right track.
How to Get Started as a Young Entrepreneur
Many of Britain’s young entrepreneurs began their businesses from home, all looking to find greater control, be their own boss with the monetary rewards coming secondary. The majority began their companies with little to no experience, like Akshay Ruparelia who started Doorsteps.co.uk when he was taking his A Levels.
As a young teen, he moved house a lot and credits this with his insider knowledge on what sellers want, with top of the list being low commission fees and more buyer control. Catering to this gap in the market, Ruparelia’s company is now valued at £12 million. Alice Liveing is another success story who drew from her own personal experience to find her money making niche. Also known as Clean Eating Alice, she is now a health and fitness guru with almost 700,000 followers on Instagram alone. Her bikini diet snaps went viral and her legion of fans have seen her bag lucrative deals with high street giants like Primark, where she now has her own range of fitness gear.
Ed Hollands found the inspiration to start his company DrivenMedia when he was stuck in traffic and noticed how many blank-sided trucks were driving past him with potential advertising space totally unutilised. Throw in an appearance on Dragon’s Den where he scored a £30,000 investment from Jenny Campbell, and his company is now thriving, reaching a staggering 55,000 eyes around Britain every day. Although it may seem intimidating to start your own business, there are plenty of other stories and advice online.
It seems that age has been no barrier for these young British start-ups and despite their minimal years of professional business experience – in some case none! – taking that first step to success was just to get started and not be daunted by the potential of what lay ahead. Indeed, Holland himself is not just content with his current success and hopes to become the “head of a group of companies” as his CEO status continues to expand.
Take Inspiration from Already Successful Brits
It seems that many young Brits are riding the crest of the entrepreneur buzz word wave, but how have they done it? Although all from widely different background with businesses in a variety of different sectors, there do seem to be two commonalities. Firstly, they have all used their own life experience to find a loophole in the market and utilise that to see a good financial return. The second is that they are all making the most of the internet, social media and online business marketplaces to expand their ideas, reach more followers and advertise for basically nothing. Shopify Business Ideas have even more tales of triumph when it comes to running your own business, so no matter what your age it is never too early or too late to turn your passion into profit.