Australian teenagers are already dreaming of making their mark in the boardroom.
New research from Xero’s ‘Ageless Entrepreneur’ report has revealed that more Aussie kids than ever are dreaming of being the next Elon Musk and Mark Zuckerberg. Here, the report found a staggering 90% of young Australians want to be their own boss when they grow up.
Key findings of the research include:
- The goal of becoming an entrepreneur is being driven by young Australians wanting to pursue their passion in life, whether that is meeting career or life goals (both 90%).
- Two-thirds of parents surveyed wanted their children to grow up and become entrepreneurs.
- The majority of Australian parents surveyed in the report believe that schools can do more to build business and entrepreneurial skills in their children.
Fifteen-year-old Isabella Dymalovski from Melbourne set up her skin care business Luv Ur Skin after needing safe skin care products while competing in a dance competition. Today, Isabella’s products are stocked across Australia and the teenage entrepreneur wants to continue to grow her business while balancing her schoolwork.
Luv Ur Skin will pop up in the third stage of Xero’s Cloud Street roadshow in Federation Square from 14 December to 20 December, giving Issy the chance to get up close and personal with customers.
“I am delighted to get the opportunity to showcase my products at Xero’s Cloud Street.” Isabella explained. “I started this business because I saw a need for other kids like me, and now there is nothing I would rather be doing.
On becoming an entrepreneur at such a young age, Issy added “I would encourage anyone at any age to find their passion, and see if they can become an entrepreneur. The rewards are endless and I can’t wait to continue my journey with Luv Ur Skin.”
Aussie parents: the key to the next generation of entrepreneurs
According to the research, Australian parents are completely supportive of this new generation of aspiring entrepreneurs, with two-thirds of parents surveyed wanted their children to grow up and become entrepreneurs.
At the start of her journey with Luv Ur Skin, Issy worked closely with her mother who saw her daughter’s drive and talent in business at a young age. Issy attended early business meetings with her mother, and the teenager gained valuable skills in entrepreneurship outside of the classroom.
The majority of Australian parents surveyed in the report believe that schools can do more to build business and entrepreneurial skills in their children. These include teaching them more about making decisions and problem solving (68%), providing general courses that support these skills (60%) and ensuring they are sufficiently technically savvy (59%).
Speaking about the rise of young Australian entrepreneurs, Trent Innes, Managing Director of Xero Australia said, “Everyday at Xero we work with a range of small businesses and through our ‘Ageless Entrepreneur’ report we are thrilled to find out that so many young Australians want to be entrepreneurs when they grow up.
“We understand many young Australians are increasingly being driven to pursue their passions and we are looking forward to encouraging and meeting this new generation of entrepreneurs at Cloud St in Melbourne and beyond,” Trent added.