When starting their own business, young entrepreneurs are eager to obtain information regarding access to capital, but participants agreed that what they really require is a better understanding of what it takes to be an entrepreneur.
Developing a business plan was often dependent on a young entrepreneurs’ educational background.
Young entrepreneurs who have attended university considered to be more familiar with developing a business plan, while those who have not tended to be less familiar with the process.
Regardless of their level of familiarity, young entrepreneurs were regarded as not realizing the importance of following their business plan, with most seeing its development as simply a means to access capital.
Training which addresses the importance of adhering to the business plan seen as an important area requiring attention.
The value of marketing often overlooked initially because young entrepreneurs find it hard to justify spending the money.
The information young entrepreneurs require regarded as available, but very difficult to access.
Often, potential young entrepreneurs viewed as becoming frustrated with the process of starting their own business because they could not readily gain access to the information they seek.
The information that is available and how it be accessed is not promoted to its fullest potential.
There was a need to better promote the services that were available to young entrepreneurs.
School system (high school, community college and university) is an effective venue for creating a general awareness of entrepreneurship as a career option.
This would also serve to introduce students to the services and supports that are available to them, should they decide to pursue a career in this field.
Method of communication such as having successful young entrepreneurs provides presentations to high school classes as a means to promote entrepreneurship as a career option viewed as being potentially beneficial.
It would clearly demonstrate that young people could be successful in the business community as it depict the young positive role models seen as having a positive effect on young people.
In addition to these experiences through the educational system, the Internet, the radio and continued face-to-face contact seen as successful means to promote the services that are currently available to young entrepreneurs.
Channels used to promote youth entrepreneurship should base on the media best accepted by this age group and easily accessible to a wide range of youth. One participant felt that the Internet is only successful in reaching a select segment of web-savvy youth.