Generation Entrepreneur

You learn it from the real world practice”.

Facing the criticism to the young entrepreneur, Murphy says that this criticism is largely unfounded.

“The old generations criticize us [because of our] lack of responsibility, and [says that] we are not consistent about what we want and what we are doing. If there is no immediate outcome, we give up,” he says. “I don’t know whether it is new to our generation… [These] type of questions [have] always existed, no matter what generation you are”.

Instead of the criticism that Millenials are irresponsible and indecisive, Murphy suggests that the current generation is impacted by an evolving job market.

“Everything is more flexible now. We have less rigid definition[s] of career[s],” he explains. “You don’t just go to university, get a job, get married and have children. We are happy to move around. Most of us don’t spend more than two years at one job, [and some] of the businesses we are doing [now didn’t] even exist during our father’s generation, because of the Internet.”

The depressed job market also contributes to the popularity of entrepreneurship among young people. Figures from the International Labour Organisation show that 75 million young people world-wide are unemployed, which is 6 percent of all 15- to 24-year-olds. The Economist alsocalculates that almost 290 million youth world-wide, or nearly one quarter of the planet’s youth, are neither working nor studying.

There are two main reasons for this generation of unemployment: the first one is the financial crisis and the recession. Secondly, a decrease in job-related skills training and education opportunities have caused a mismatch of what young people can offer and what employees are looking for.

Employers tend to sack the newest hires who have less experiences and connections. In Greece and Spain, over one sixth of the youth are jobless. The fast growing youth populations in developing countries also intensify the scarcity of opportunities in the job market.

The youth have become the least powerful group of people, with the least capitals and assets, and the least experience and connections to support themselves.. At the same time, it is the young people who have suffered most in this economy. Entrepreneurship is one alternative way to relieve the depressed job market. Young entrepreneurs can provide employment and opportunities for more youth through their own businesses.

Yijia Li is a PhD student in neuroscience at the University of Melbourne. He also founded the Melbourne Pioneer Foundation, the first foundation in Melbourne to help Chinese international students in Melbourne to start their own businesses.

“We [are supporting] a graduate student from Melbourne University [in starting] his own a business in customized high quality leather shoes,” Li says. “It is not only the shoes business that we are supporting, but also a spirit of exploration.”

Most Chinese students in Melbourne are from wealthy families and growing up as the only child in the family, Li explains, which helps contribute to the negative stereotypes of the Millenials.

“They lack the spirit of entrepreneurship and innovation because they simply don’t need to [be innovative] in their lives,” Li explains. “[At the Melbourne Pioneer Foundation,] we want to make a difference, and we want to help more young students make a difference.”

In the fields of social engagement and civic inclusion, it is not only future adults that can make a difference when they grow up. Young people are innovative, motivated, unafraid to take risks, and ready to tackle critical social issues in their communities. They are actively involved in international organizations, volunteering and economic forums.

Yuan is a Chinese background social entrepreneur based in Melbourne, who is determined to go back to China soon to start his own business to help tackle China’s severe pollution and food security problems.