"2015 will be the time to start a business. Here’s why and how.
Around the world we are facing unprecedented unemployment – even in the developed world. Youth are particularly hard hit. In 2014 more than 1.6 million students graduated from American colleges and universities. Many moved directly into the swollen ranks of the unemployed. After taking on enormous debt to finance their studies, they ended up competing for unpaid internships or low-paying jobs for which their education is irrelevant. This violates the tacit pact made with them: If they were industrious, law-abiding and diligent students, their lives would be prosperous.
The U.S. isn't alone. According to the International Labor Organization, youth unemployment in most of the world is stuck at about 20 percent. "Young people [are] nearly three times as likely as adults to be unemployed," says the ILO. In Spain more than 50 percent of young people are unemployed, in Italy it's 35 percent, and in France the rate is more than 25 percent. When considering under-employment, these numbers could be doubled.
Such unemployment is corrosive to all societies, no matter what their level of development. All citizens want to play a productive role and contribute to their community. Unemployment gnaws at an individual’s well-being, and makes them feel surplus to society’s needs.
But traditional methods of job creation are stalled.
One of the keys to solving this problem is entrepreneurship. Research shows that 80 percent of new jobs come from companies 5 years old or less. So the need for entrepreneurs has never been greater, in both developing and developed countries. When given the right conditions to flourish, entrepreneurs are the foundation of growth, prosperity and even innovation. They bring fresh thinking to the marketplace and fuel the creative destruction that makes market economies prosper.
In addition to creating jobs, new companies are the foundation of the economy and the source of much innovation. They also create the new goods and services on which our standard of living is based. The Internet slashes transaction and collaboration costs for almost every institution in an economy. This is leading to a change in how societies orchestrate capability to innovate, create goods, services and public value. With such costs falling precipitously, companies can increasingly source ideas, innovations and uniquely qualified minds from a vast global pool of talent.
Many big companies benefit from startup entrepreneurship. They acquire small companies with great innovations rather than relying solely on their research and development departments. As the new saying goes, M&A is the new R&D. Entrepreneurship is also critical to social cohesion and avoiding the radicalization of youth and their recruitment to anti-social and dangerous causes.
Waiting for governments or big companies to solve the problem is not the answer. Necessity is the mother of invention. Is it time to take the bull by the horns and make your own job?" - Don Tapscott
The best way I've seen to do this is by partnering with a successful company with a great product that gives you the #bigideas2015 and the tools necessary for success.
About the Author: Collette is a senior analysts at CoreLogic. You can connect with her @ www.cwiedecke.vemma.com and lets all make 2015 great!
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