5 Reasons To Equip Your Kids With Entrepreneurship Skills

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Here are the top five reasons why parents should expose their children to entrepreneurship skills and opportunities to best prepare your children for an unexplored future.

Modeling Entrepreneurship Skills At A Young Age Can Be Highly Effective For The Future

There are multiple benefits of modeling entrepreneurship and business skills for young kids. Beginning in middle school, students develop an awareness of the importance of business and entrepreneurship, according to Lemonade Day!

Also, by the time teenagers reach high school, if they have never had a chance to experience entrepreneurship in any way, they won’t have a clue when it comes to potentially building a business or working as a freelancer.

Also, according to Lemonade Day!, 85% of students in one study said they were taught little to nothing about business when they were in high school. Nationally, less than 30% of students have had the opportunity to take a business class. 

Did You Know?

High schools can provide students with opportunities to learn about the fundamentals of business, but it’s best to not assume your child’s high school is modeling these traits or providing entrepreneurship opportunities. Check into your local schools, companies and organizations to find out if there are any entrepreneurial opportunities for your kids.

Exposure to entrepreneurship can help youth become more interested in life-long learning because ongoing education, up-skilling and entrepreneurship all go hand-in-hand.

An Uncertain Workforce Future

As the world is changing, so is the way people view the workforce. As Millennials and Generation Z have come from different upbringings, their thoughts about the workplace are paving the way for a new type of employment. 

Whether a career is remote or provides for more of a work-life balance, the future of the job economy is still in flux. Companies are scrambling to meet the demands of new young workers.

For example, according to Business News Daily, a commute into the office is becoming less common. Because of this new outlook on life, it isn’t easy to predict what type of jobs will be available when your kids are grown and are ready to enter the job market. 

The Gig Economy

The increasing rise of the gig economy has exploded over the past decade. Those who work as freelancers or work for places such as Uber or Lyft are not only working directly with clients, but they are also working for themselves. 

By this year, according to Nasdaq, they state that 43% of the workforce will be part of the gig economy. 

Entrepreneurial skills will be essential to prepare your children for this kind of work. 

Colleges Are Scrambling To Meet Demands Of The Future

As we’ve seen, multiple changes are expected to occur in the workplace, which is having a significant effect on university offerings. Because these transformations have arrived so fast, expectations from colleges and universities have also come to the surface.

Today, parents expect more from their child’s higher education experience, especially due to the rising cost of student debt. They are looking for a higher ROI, and they want their children to have different opportunities that can lead to certifications, internships, and more hands-on learning that is engaging and useful for the future.

A traditional degree does not mean your child will be guaranteed a ticket to the middle-class class anymore. The role of higher education and the new demands have left some colleges to close or merge. Universities are creating programs and certifications that will take time to demonstrate a return on your investment. 

Education, whether K-12 or at the university level, tends to move slowly, and can be hesitant to change. The kinds of college programs that are born today to meet this new economy are still in their infancy.  

For this reason, parents and students should research community college offerings, visit different universities, and consider trade schools. It is critical to help your children choose potential degrees or certifications so they can find jobs upon graduation. 

Even if their chosen industry begins to suffer, when you plant entrepreneurial seeds in your child’s path, they can have the skills, ideas, and connections to fend for themselves if they should ever need to in the future.

What Employers Want

It’s no longer enough to be qualified in one chosen area. Employers today are looking for a broader range of both hard and soft-skills, self-motivation, creativity, and an interest in life-long learning.

For example, many people state that employers want employees who display skills as problem-solving, flexibility, initiative, self-awareness, and resilience. As a parent, you can demonstrate all of these areas while your child is growing.

The world is changing rapidly, and it’s harder for parents to know how to prepare their children for the future. As we’ve seen, one of the best ways to do this is by modeling entrepreneurship and exploring evergreen skills.

Technology has the power to do many powerful things, and changing the world is one of them. However, our next generation must be prepared for a new world that awaits them. 

Moving forward, we’re likely to see considerable changes across a wide variety of industries, including IT, education, healthcare, media, entertainment, food, retail shopping, energy, and transportation.

The fundamental nature of these changes may be unlike anything we’ve experienced since the early 20th-century.

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