Today’s youth are turning to modern platforms such as Instagram, Facebook, Pinterest, LinkedIn and TikTok to kick start their entrepreneurial journey.
These platforms provide practical business tools, offering opportunities for product promotion, brand awareness, community building and innovative collaborations, all from the safety of their dorm rooms.
According to a recent report by the Washington Post, TikTok alone has notably impacted small businesses, generating an estimated $14.7 billion in revenue and supporting around 224,000 jobs.
The popular in-app shopping feature of TikTok has proven vital for young business owners. However, potential restrictions could pose a severe setback for these budding entrepreneurs, necessitating diversification of their marketing strategies.
Youthful entrepreneurship through social platforms
Social commerce platforms like TikTok provide students entrepreneurs with user-friendly interfaces, inbuilt marketing tools, and stability to operate their business without significant technological investments.
The incorporation of shoppable posts directly into the platform simplifies the buying process for customers, minimizing transactional problems for sellers.
Harnessing these platforms can significantly ease technological burdens, allowing student entrepreneurs to focus on creating exceptional products or services for their customers.
Meanwhile, major companies like Alphabet Inc. and Microsoft Corporation are providing startups with resources like cloud credits, marketing tools, access to industry experts, important contacts, and best practices through respective initiatives.
These initiatives are set to create a global ecosystem that promotes diversity and fosters innovation while offering startups the wealth of knowledge and experience of the tech giants.
Lastly, platforms like Upwork Inc. and Shopify Inc. present feasible business solutions such as freelancing and e-commerce services, providing potential student entrepreneurs with ample opportunities to launch their start-ups.
