When it comes to making money, a lot of young people have the will to start their own thing but are stumped by where to find the funding to bring their dreams to life. Starting a venture with little or no funding, while juggling school, can be difficult. Here are some guidelines you can use to help your teenager take the first step towards entrepreneurship. Think carefully about your immediate community's needs or zoom in on a passion. This could be the neighbourhood you live in or your school or university. What are some of the things community members need? What do your peers constantly complain about? Finding a gap in the market and a solution to it will help you define the product or service you can supply. Most business owners encourage youngsters to find their passion and turn it into a business. Perhaps your child is an avid reader. Is there a way to turn that passion for books into a business? It's important to help your teen realise that the need might not necessarily be on...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now