Entrepreneurial enthusiasm: black teens see greater job security in owning a business.Having watched their parents and older siblings siblings npl (formal) → frères et sœurs mpl (de mêmes parents) fall prey to massive job layoffs in corporate America, today's youth are, not surprisingly, enthusiastic about becoming entrepreneurs. Roughly 41% of teens (those age 13 to 18) believe that owning a business provides greater job security than working for a company. Moreover, about 81% believed that there is greater job satisfaction in owning a business than in working for someone else, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the 2003 Interprise Poll on Entrepreneurship conducted by Junior Achievement a nonprofit organization Nonprofit Organization An association that is given tax-free status. Donations to a non-profit organization are often tax deductible as well. Notes: Examples of non-profit organizations are charities, hospitals and schools. that provides in-school and after-school programs in such areas as economics, financial literacy Financial literacy is the ability of individuals to make appropriate decisions in managing their personal finances. Raising levels of financial literacy is now a focus of government programmes in countries including[1] Australia, Japan, the United States and the UK. , and entrepreneurship. When asked if they would like to start their own business someday some·day adv. At an indefinite time in the future. Usage Note: The adverbs someday and sometime express future time indefinitely: We'll succeed someday. Come sometime. , 75% responded yes, while 18% said no. Moreover, African American African American Multiculture A person having origins in any of the black racial groups of Africa. See Race. youth were more likely to denote de·note tr.v. de·not·ed, de·not·ing, de·notes 1. To mark; indicate: a frown that denoted increasing impatience. 2. a willingness to become entrepreneurs compared to white teens, 86% versus 69%. More boys, at 80%, than girls, at 71%, expressed a desire to become entrepreneurs. Young people are fully aware of the challenges involved with starting a business. Only 11% perceived that their efforts would be easy or very easy while almost half, or 49%, believed that starting a business would be somewhat challenging. Nearly half, or 49%, of the teens believed that independence was the primary reason people became entrepreneurs. Having a great idea and wanting to see it in action was the second choice at 32%. What factors would derail de·rail intr. & tr.v. de·railed, de·rail·ing, de·rails 1. To run or cause to run off the rails. 2. today's youth from pursuing their entrepreneurial aspirations? Not enough money to get a business started, 38%, and fear of failure, 29% were the top two reasons. This is the exact reverse of JA'S 2000 survey, which showed that fear of failure, at 39% was the most commonly cited reason for not starting a business, while 28% of the teens cited not having enough money. Desire to Start a Business Asian/Pacific Islanders 89% African American 86% Hispanic/Latino 79% White 69% Business Preferences Professional Service 30% Retail Business 27% Restaurant or Food-related 13% Trade Service 7% E-commerce or Internet-based 6% Other 17% Reasons for Not Starting a Business Not Enough Startup Money 38% Fear of Failure 29% Other Interest 17% Too Much Work 8% Government Obstacles 6% Other 4% SOURCE: 2003 JUNIOR ACHIEVEMENT INTERPRISE POOL ON TEENS AND ENTREPRENEURSHIP Note: Table made from bar graph. |
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