Should students start a business early?

Many young people today have a business orientation from a very early age, even when they are still in school. However, most students encounter many difficulties in the process of starting a business due to lack of capital, knowledge and experience, etc. Although starting a business brings many opportunities, it is also full of challenges. In fact, there are many students who have started a successful business, but the number of people who have failed is also not small. So should students start a business early or not?

What is a startup?

Entrepreneurship means starting your own business, the most common form of which is to establish a business, take responsibility for it and manage it to generate income. This is an ideal and attractive form of business, helping entrepreneurs to be free and creative and avoid the constraints of working for others. 

Nowadays, start-up is considered a new, exciting and positive movement, especially for students. 

What advantages will student startups have?

Most people think that students starting a business will face many difficulties because they are too young, lack experience or knowledge, etc. However, in reality, there have been many Vietnamese students who have successfully started a business thanks to many advantages that other ages do not have. With youthful energy and burning enthusiasm, students are always ready to devote themselves to what they are passionate about. The dare-to-think and dare-to-do mindset of students is also a huge advantage to promote the ability to develop and access many advanced technologies. Students have a lot of time to update, practice and supplement their knowledge, are not afraid of difficulties and are ready to "do it again" if they fail, and accumulate experience for themselves. The school environment is also a place where students can easily find people with the same aspirations and business ideals to accompany them on the path to starting a business. At this age, the main job seems to be just studying, without much pressure from family or financial burdens, so students will also have more time to focus on starting a business.

Health and youth advantages can help students start successful businesses

What difficulties will student entrepreneurs encounter? 

Besides the advantages, students will encounter many typical difficulties when starting a business at a young age. The first problem that most young startup project owners encounter is the lack of capital and experience. Because students often do not have abundant financial resources to realize their ideas. Besides, experience is an important factor when starting a business, but this factor cannot be easily learned in school but requires practical experience. Students will also face a lot of pressure when having to take responsibility and orient their own business. In addition, young entrepreneurs will not have many relationships with businesses or investors, so the ability to connect and connect firmly for the future is very difficult. These are also the main reasons why many young startup projects spring up like mushrooms but are not effective. 

How are students facilitated to start a business?

Currently, our country has many large units such as the Youth Startup Support Center, SIHUB (SaiGon Innovation Hub), Ho Chi Minh City Startup and Innovation Investment Fund, and other organizations that are always ready to support student startups. In addition, many startup competitions such as Startup Wheel, I-Startup, Startup Viet, Startup Kite, etc., are also organized with the goal of finding and developing potential projects, while supporting students in implementing promising creative startup ideas. These competitions are also opportunities for startups to compete, exchange and learn from experts in many fields as well as bring their projects closer to the community.

Innovative startup competitions open up many development opportunities for students.

In addition to the above units, FundGo Creative Startup Investment Fund is also one of the units actively supporting student startups, while promoting the search for potential startup projects in the region. In May 2022, FundGo participated in the "Potential Startup Project" competition among students of Can Tho University Open 2022 as a judge.

FundGo accompanies teams at the "Potential Startup Project" competition for students of Can Tho University in 2022

FundGo is always committed to supporting innovative startup projects in the Mekong Delta in particular and the whole country in general in accordance with the Fund's operating motto. In the past, the Fund has coordinated with leading colleges and universities in the region such as Can Tho University, Can Tho University of Technology and Engineering, FPT University, FPT Polytechnic Can Tho to sponsor hundreds of scholarships for individuals with excellent academic achievements. The Fund will continue to coordinate with units and businesses to organize programs to support student startups, and increase the search for potential innovative startup projects.

Starting a business early is something students should do if they have ambition and determination. Although there are many difficulties and challenges, starting a business is still a good opportunity for students to demonstrate their abilities, and at the same time open up development opportunities for themselves. I believe that with determination and passion, students will turn their startup ideas into reality.