Young people looking for employment are among some of the hardest hit by Canada’s recent tight job market, as youth unemployment continues to hold at 14% in this country. As a result, many young people are taking their futures into their own hands by creating their own businesses. Although there are many challenges that go along with being your own boss, students with a flair for business or a creative idea should also take into account the many advantages of entrepreneurship.
Doing some research is a great first step, as running a company requires a working knowledge of advertising, accounting, scheduling, customer relations, sales, and much more. If you are still in school, you may even be able to find business grants for students, like the Government of Ontario’s Summer Company. This program offers eligible student candidates coaching, support and up to $3000 to start and run a summer business. Amongst the many granting opportunities, there are also numerous helpful tools and articles on the internet. It’s very important to make sure that these are relevant to you and your business before spending too much time on any one tool or application.
Working for yourself offers the great advantage of a flexible work week, which allows you the opportunity to work different hours from the typical 9-5 work day. Taking a break for brunch with a colleague or working nights instead of days is completely within your control. Admittedly, entrepreneurs often work more hours than their regularly employed counterparts because they are trying to build their business and every hour logged can help create that competitive edge. So, it’s essential to schedule some time off from your busy work schedule as well.
Part of the draw to entrepreneurship is the vision of being singularly in control of your own destiny. You can work with associates you admire, take on customers you enjoy working with, make decisions quickly, take chances, be creative and stick to your core values. For most, it’s important to have close friends and associates to look to during challenging times, but knowing the decision is yours in the end can be energizing and rewarding as your business continues to grow.
Another exciting advantage of entrepreneurship is the endless potential for income. The harder you work, the more likely you are to reap the financial benefits. The potential is there to build your business, and you can decide when to put money into improving your company and when to give yourself a paycheque.
When you start your business, there is a great deal of satisfaction in knowing that this is something you created from the ground up. When the income and awards start rolling in, it can be even more rewarding. If you’re looking for summer jobs for students in Ontario, starting a new company is an option you should seriously consider.
Whitney Sparks runs her own company as a web-based writer, which makes her a great candidate to encourage others to search the internet for programs like Summer Company. She hopes her article will motivate students and other young business owners to give business ownership a try.