Next gen entrepreneurs

Are entrepreneurs the new celebrities? If research is to be believed it looks like a big ‘yes’ with 90% of kids indicating that they want to follow the example of Elon Musk, Mark Zuckerberg and the Google guys.

Xero’s Ageless Entrepreneur report has revealed that more Aussie kids than ever before are dreaming of going into business for themselves and two thirds of their parents indicated that they shared that dream.

The majority of Australian parents surveyed in the report believe that schools can do more to build business and entrepreneurial skills in their children.

Kids could do worse than follow the example of fifteen-year-old Isabella Dymalovski from Melbourne who 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 19 December, giving Issy the chance to get up close and personal with customers. Xero is a provider of accounting software.

“I started Luv Ur Skin as I wasn’t able to use my mums products or find anything to buy that was suitable for my skin. With the support of an expert team of formulators I now have a beautiful range of products that are safe and effective, whilst also making girls like me feel great, as they’re taking care of their skin. We have enjoyed some great success with Luv Ur Skin, and there is nothing else I would rather be doing,” said Issy.

On becoming an entrepreneur at such a young age, Issy added “While many people are surprised at my age when I tell them that I run my own business, I like to think I’m just like any entrepreneur, except I have to juggle it with my school work. Chasing my passions was important and I encourage anyone at any age to follow their dreams and start their own business.”

In the early days of 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 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, “Aspiring entrepreneurs are living in exciting times. Traditional barriers such as age have been broken down and instead, teenage entrepreneurs are being judged solely on their talent. As a father, I love this, as I want my children to grow up knowing that they have the skills to do whatever they dream of.

“The ability to innovate and execute your vision isn’t associated with age, and this is a barrier we need to break down, so that Australia can continue to foster original ideas and business concepts.