New York SBDC Research Network

From Bplans.com You think an allowance will help kids learn about how to manage their money? Try being a business owner. Understanding both personal and professional finances is one of the most important life lessons to learn—the earlier the better. By having a good grasp on spending, saving, budgets, and margins, you show you’re knowledgeable and responsible with money. Nothing’s cuter than a tween (with the assistance of her father) handing you a contract and telling you that she will clean and service a machine every month if you give her rent-free space to place it. Truly understanding what you’re selling displays confidence and credibility, as does truly believing in it. Comprehending the ins and outs of your product and business shines through when speaking with customers and clients.

My knee-jerk answer to that question is no. I have several reasons why, and I’ll be sharing them in this article. But first, do you know of anyone who has purchased a  franchise business right out of college? To learn more visit  SBA !

When starting a business, it is important to know where to get the best information. The basics of sales, marketing, and advertising are all topics to keep in mind while laying the groundwork. Here's a list of some sites to keep in mind. 1. Score Entrepreneurship These sites cover many topics like financing and marketing. They also have a search box tool for narrowing down information. 2. SBDCMichigan The Michigan SBDC created an online workshop for small business owners. Each class follows topics like Writing a Business Plan,Marketing Your Business, Financial Management, Business Legal Issues, and more. 3. SBA SBA Starting Managing Business The Small Business Administration offers free information in all aspects of starting a business. They also offer a regularly updated "Guide to Starting a Business." 4. Ecorner Lynda Ted Talks Many who are looking to start a business value information from success stories. People find sites like Ted T

1. Youth matters. Many entrepreneurs say they wished they started on their path sooner. So when better to start then at a young age?

Daniel Fine is the founder and chief executive of Glass-U, a two-year-old, 10-employee maker of foldable sunglasses bearing the licensed brands of universities, music festivals like Lollapalooza, and the World Cup soccer tournament last summer. He arranges for the manufacture of the glasses in China and their distribution around the country. He’s also a senior in college. Mr. Fine financed Glass-U, which operates out of off-campus housing, in part with proceeds from a tutoring company, NexTutors, that he started right after high school. He has also founded Fine Prints, a custom apparel company he started during high school, and Dosed, a health care technology company that is working on a smartphone app to help diabetics. In a recent conversation that has been condensed and edited, Mr. Fine, who is 21 and attends the University of Pennsylvania’s Wharton School, talked about how he got started in entrepreneurship and why he decided not to complete his application for a Thiel Fellowsh

The Office of Advocacy has released an informative fact sheet entitled "Student Debt Among Young Entrepreneurs." This publication examines how student debt is affecting self-employment trends among younger individuals. The report finds that student debt is rising and is having a negative effect on the rate of self-employment. It also looks at other characteristics of individuals with student debt. Find the full fact sheet here .