Entrepreneurship might be the future for young people
With the move towards contract work, the days of keeping the same job for the rest of your life are no more, said an entrepreneurship professor. Instead, those going into the work force might want to consider starting their own business.
And for some young people, entrepreneurship is already a reality.
Patricia Peel, a professor at the University of Guelph-Humber, said that she encourages all young people to look out for ideas and opportunities in the face of a dwindling job market. “There’s going to be fewer and fewer jobs, which means young people are going to have to create their own jobs,” said Peel.
Peel herself has been involved in many self-starters, from a scuba diving company to a consulting agency. And from her experience, she said she learned successful entrepreneurs are the ones who look out for the newest changes.
“Those that recognize where the opportunity is, recognize it and understand how to exploit it, they will be the ones who will be successful as entrepreneurs,” said Peel.
That is exactly what Josh Chacko and Nav Ali did when they created Forever Yonge.
Named after Yonge Street in Toronto, Forever Yonge is a contemporary street-wear essentials clothing line started by the pair in 2010. Ali said that they noticed a move to a simpler styling by larger companies like Adidas and Nike and wanted to create that look for Toronto natives.
Forever Yonge has just released their Spring/Summer 2016 collection.
Chacko and Ali said that their inspiration for the company came while sitting in a Tim Horton’s brainstorming about their next big venture.
They found that Toronto was lacking an identity like the one presented by New York. “We wanted to fill that void. We thought clothing and Toronto-centric graphic design would be cool to do and it’s something we had an interest in,” said Chacko.
Ali assures that “We’re not your Yeezy”, referring to the pricy clothing line by Kanye West. They said that the line aims to create good quality clothing that’s affordable for everyone, from high school students to young adults.
In the past, Forever Yonge has worked with athletes like former player for the Toronto Raptors Vince Carter and Liam McMorrow, who played for the Halifax Rainmen.
Chacko and Ali both agreed that initiative and passion are key to not only starting your own business, but being successful. “Just keep doing it. At first we stated it as a hobby… we didn’t really know what it was then. But we just stuck to it,” Ali said. “We had a lot of support from our friends and family and with that we just kept doing it, piece by piece, one at a time.”
He stressed that those looking to start a business should never give up and that work pays off. “Just keep working at what you have and work with what you’ve got. That’s what we did. Just don’t stop trying,” he said.
Chacko added that when creating a business you should “do what you love, do it the best, and opportunities will come find you.”
Roshawn May, 21, is also trekking into the world of entrepreneurship. Along with his father and brother, May has recently started Link-Ups Communication, whose store had its grand opening April 1.
The business specializes in computer repair, computer virus removal and IPTV. IPTV stands for Internet Protocol Television and the IPTV boxes offered by Link-Ups allows users to watch live broadcast channels via the Internet on their televisions once plugged in. The technology is fairly new, but May said he believes it will be the next big thing in home entertainment.
Roshawn May has recently graduated from the Computer Engineering program at Sheridan College.
“The Internet is becoming more and more pervasive and expanding, and with IPTV, which
is what we’re promoting a lot,” May said. “I think it’s a new venture that will basically be a step that a lot of companies will jump forward to as technology advances.”
The company has been in development since February of last year and has gained a loyal customer base through word-of-mouth, currently catering to more than 350 customers in the GTA, said May.
The experience of building a business was an educational one for May, who said that he’s had to learn about money management and budgeting. He said that while he may not be the most business savvy, he thinks being a business owner should be an option for everyone.
“You’re never too young to do something like this,” May said. I don’t think there should be a certain set time or age to start a business, or even just be able to make money.”
In Peel’s estimation, entrepreneurship is the future of business. “I believe that everybody will be an entrepreneur at some point in their life, out of desire or out of necessity,” said Peel.
About the Author
Danielle Edwards is a third-year media student at the University of Guelph-Humber. She is an avid reader and enjoys writing in her spare time. She aspires to be an investigative journalist.
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