Pre reading tasks
Task A.
Skim the five numbered points in Reading 2 to get a general idea of what each is about. Then, match these sentences to each point.
_ _ _ People familiar with technology can make money.
_ _ _ More money is available.
_ _ _ It’s less expensive to start a business.
_ _ _ It’s easier to learn about starting a business.
____New leaders inspire young people.
Task B
Scan the article to find the sentence on musicians and entrepreneurs. Why does the writer compare these two occupations?
Task C
The article mentions Gen Y, which stands for Generation Y and refers to children born between the 1980s and the early 2000s. They are also called millennials. Based on what you know about this generation, do you agree or disagree with these statements?
7.1 – Gen Y graduates |
7.2 – Agree |
7.3 – Uncertain |
7.4 – Disagree |
| delay getting married or starting a career | |||
| want flexibility on the job | |||
| are less concerned about helping the community | |||
| are more open to new ideas | |||
| want frequent feedback from managers |
Task D
Now read the text
The climate for youth entrepreneurs seems better than ever, particularly in the knowledge sectors where young people have the advantage of low start-up costs and technology know-how. Ajay Agrawal, a professor at University of Toronto’s Rotmans School of Management, puts this down to five factors.
- Culture: From Facebook’s Mark Zuckerberg to Dropbox’s Drew Houston to Tumblr’s David Karp, there’s a growing parade of leadership examples for young people. Becoming a CEO has become more imaginable.
- Technology:The digital natives have the insights and expertise to find profitable niches in the rapidly growing world of mobile, Internet and social media innovation.
- Lean methodology: Cost barriers to starting up your own business have fallen dramatically. With careful planning it can be done with S10,000 or less rather than $100,000.
- Access to capital: Not only are investors more willing to fund twenty-two-year-olds than they were a decade ago, there has been an increase in funds available from venture capitalists to the federal and provincial governments.
- Infrastructure: The opportunities for training and funding have grown through organizations like the Canadian Youth Business Foundation, Nspire and The Next Universities are also actively promoting youth entrepreneurship through the University of Waterloo’s Conrad Business Entrepren eurship and Technology Centre and Ryerson’sDigital Media Zone, as examples.
According to an Ernst & Young survey released late last year, there has been a marked improvement in training, funding and support for young entrepreneurs in the last five 25 years. Of the 1,000 entrepreneurs surveyed, 88 percent believed mentoring programs would boost that support further in the next three years.
Rod McNaughton, director of the University of Waterloo’s Conrad Centre, says he has noticed a shift in perception towards entrepreneurs as well.
Traditionally, even if parents were small business people, they’d encourage their kids to become professionals, he says. “Going home and saying you wanted to be an entrepreneur was like going home and saying you want to become a musician.” But now entrepreneurs are becoming almost a professional class.
The question is whether this entrepreneurial wave is different, he says. He thinks there could be changes in technology and society that are fundamentally shifting in favour of smaller, new businesses.
So what are the pros and cons of being a young CEO?
Lauren Friese, Founder of TalentEgg. Age: Twenty-eight
Her story: She started TalentEgg four years ago after seeing how challenging it could be for students to find work after graduation. The online portal connects students with jobs and helps employers recruit off campuses across the country and market themselves towards Gen Y.
- Advantages:
Start-ups are a good Gen Y option. “It ‘s become more accepted for young people to start their careers in entrepreneurial companies, whether they started them or are working in them.” The appeal is being able to [have] more than just a narrow job, to have a say in what goes on and access to leadership.
- Challenges:
Building credibility : “When I founded TalentEgg I was twenty-four, but I looked fifteen then and I look fifteen now. Right away I knew that I wasn’t going to go into a meeting and look like the other people selling stuff in my market , so I decided I wasn’t going to pretend. I’m a recent graduate, my team are all Gen Y-ers and we understand the market better than anyone else.”
Lack of experience in business: “I worked to turn that to my advantage too … by saying I can approach problems with an open mind.”
- Advice: “I don’t think you could find an entrepreneur out there who could honestly tell you they’ve never wanted to quit. I think feeling that kind of intense emotion about your business is part of the game.” Being an entrepreneur takes hard work, perseverance (something that got her through the recession) and the ability to step back and reassess what you’ re doing.
- Role models: Her parents, who are both entrepreneurs, and case studies about the many successful entrepreneurs out there. (668 words)
Reference
Hasham, A. {2012, March 2). Youth entrepreneurs: Why launching a business from your childhood bedroom is more possible than ever (and here’s proof). The Star. Retrieved from www.thestar.com/ business/ 2012/03 /02 / youth_ entrepreneurs_why_ launching_a_business_from_your_childhood_bedroom_is_more possible_than_ ever_and_heres_proof.html