Among those who are going bankrupt in tens of thousands are lots of young entrepreneurs. Why do you think has entrepreneurship become so popular with young people in recent years? Write a sociological and psychological analysis. .
Being an entrepreneur requires special drive, perseverance, passion, and a spirit of adventure in addition to managerial and technical ability. An entrepreneur must also be able to develop and manage the company that implements the idea. Not an easy task, but still thousands seek a career as an entrepreneur every year. .
As important as it is to do the right things at the right time, it is important to do things for the right reasons and with a realistic objective in mind. The list of reasons why so many young people are aiming to become entrepreneurs is very long. High up on the list is the fact that young people want to fulfill their personal dream by gaining control over their own destiny. Owning a business provides independence and the opportunity to achieve one's personal goals. Many young people are aiming for self-realization and strive for public recognition. The honest dealing and service to customers and community can be highly rewarding personally. Being part of the business system and knowing that one's work has direct bearing on the long-term success of the economy can also be rewarding. .
Moreover the opportunity to benefit financially makes entrepreneurship very attractive to the younger generation, inspired by the role models of entrepreneurship, e.g. Bill Gates. Most argue that their income as entrepreneur will be much higher compared to an employee, but not seldom the expenditures will exceed those higher revenues quickly. .
A further advantage that young people see is job security, especially now that large corporations downsize staff regularly and streamline operations. .
The major sociological reason why in the last ten to fifteen years so many young people chose to become entrepreneurs wasn't much of a choice at all.