Youth Startup Numbers Boom, Post-Pandemic
- ByStartupStory | November 10, 2021
As businesses quickly fired employees the moment they felt the pandemic’s effects, and the economic fallout continues to spread throughout the globe, new data shows that entrepreneurship among the young is at an all-time high. Young people have learned that you can’t rely on a boss, as they have been disproportionately affected by COVID salary losses. Who wants to live their lives in constant worry of their income dwindling? The pandemic has created unprecedented opportunities for young people to start businesses. And this will have a long-term impact on the labour market.
An entrepreneur starts their own company or produces their own source of income, taking all the risks in exchange for all the benefits. It used to be done to pursue a passion, but in 2021, one of the main goals will be to generate alternative revenue streams to supplement (and eventually replace) an increasingly unreliable traditional job progression/salary. Having entrepreneurship pressed upon them, many people were saved from pandemic job furloughs by’side hustles’ that could fill the income gap. Many more jumped into their own gap-filling business or freelancing, eager for a source of money as their 9-5 faded away.
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