The 20-Year-Old Entrepreneur: Myth or Reality?

Essay from the year 2019 in the subject Business economics - Company formation, Business Plans, grade: 1,3, Leuphana Universität Lüneburg, course: Entrepreneurship, language: English, abstract: The goal of this essay is to evaluate whether the 20-year-old entrepreneur is a myth or reality. Therefore, findings of the research on the field of entrepreneurship considering the relationship between the entrepreneur’s age and the creation of new ventures are discussed.In recent years the field of entrepreneurship has received increasing attention in both research and practice. Currently policy makers around the world promote entrepreneurship and new venture creation because entrepreneurial activity contributes to economic development by introducing innovations, generating employment and increasing productivity by increased competition. A large body of empirical research explores the personality characteristics, motivations and objectives of the entrepreneurial individual. Researchers address questions like why entrepreneurs decide to create new ventures, what motivates them to take risks and what differentiates entrepreneurs from non-entrepreneurs. Nonetheless, there are still several myths and misconceptions that surround the field of entrepreneurship.