There is no age restriction on being a business owner. Sure, you might not be able to register for a social media account (let alone a bank account) until you meet the age requirement, but age has never stood in the way of good ideas. If you think that you have a world-changing idea, becoming a young Australian entrepreneur might be right for you. If you haven’t had a business idea yet, but you feel that the world of trade is a good fit, you’re only one eureka moment away.
Before you set forth on your business adventure, you must take funding seriously. Money runs out fast. New businesses demand financing in multiple ways. There never seems to be enough. By all means, think about approaching investors. Also, check out this Qantas business loan selector for further details. Better to have the money and not need it than to need it and lose your business – however, if you’re under the eligibility age limit then you may have to talk to older relatives about finances. Explore your options.
Let’s look at business ideas for young Australian entrepreneurs:
Upcycling & Selling Online
Many people want to sell online. The only issue is that they don’t have anything to sell. That’s where upcycling comes in. Procuring old items is easy. You can find them everywhere, usually for free. Sanding, polishing, painting, and repurposing them takes effort, but if the results speak for themselves, selling your upcycled goods online can turn a profit.
Become a Personality on Social Media
Becoming a personality on social media requires more startup capital and a bigger business plan than you might imagine. Lights, cameras, studios, hair, make-up – it all takes money. But if you get it right, and if you find a niche, your business plan might just have what it takes. Tip: stick to topics on which you can speak with authority.
Mobile Car Wash Service
A mobile car washing service is a fast and simple idea for young entrepreneurs looking to get a foot on the business ladder. Nobody ever changed the world by washing cars, so we’re not going to sugarcoat it. But it’s a great way to learn the business ropes for bigger things to come.
Find a Local Network of Entrepreneurs and Ask for Support
Business support can mean different things to different people. Perhaps you value a newsletter. Maybe you’d like to meet other Australian entrepreneurs and share ideas. Or you might want personal advice on which software is going to benefit your business. No matter what kind of support you feel you need, there is only one way to get it. You must ask for it. That means networking.
You might not be comfortable speaking to people about your business ideas, especially if you are an introvert. But this fear of opening up should fade fast when you realise many other people are in the same position as you. Try to reach out to local small business leaders and learn what you can from them. Click the link to discover more about business support in Joondalup, for example. And good luck out there.