Why are teens starting businesses?

Three times as many teens between 10 and 14 have started their own business in the last year compared to 2019 in the Netherlands, according to the KVK (The Dutch Chamber of Commerce). As a side note, that number is still small (a total of 355 kids registered to date); however, it does indicate something interesting about Gen Z.

This generation, born with mobile phones and 24/7 access to the internet, has developed a “make it happen” mindset, an entrepreneurial attitude that they bring to life using their digital savviness. This generation is used to turning online to learn skills, acquire knowledge, and get answers. This has led them to develop an almost intuitive feeling for using technology.

Additionally, continuous access to the internet has made them very aware of all the misery in the world. They often find themselves doomscrolling through their own social feeds, through which many of them also follow the news. Here, they are likely to come across especially negative and extreme messages (as that’s how social media keeps your attention and earns money). This has led many young people to be already concerned about grown-up problems like the cost of living, climate change, and unemployment. This leads many of them to be eager to be as prepared as possible, financially.

Due to their savviness and the tools they are offered, the rise in teens starting their (online) businesses makes sense. Most businesses opened by these young entrepreneurs are centered around selling products online such as fashion, jewelry, candy, and other foods. 

Even though the number of kids starting their own businesses is still relatively low, the tools available have made it increasingly easy to earn some additional money. It wouldn’t surprise us if this trend continues to grow in the future.