Small businesses take teens’ summer jobs to the next level
While teens have often made up a significant portion of summer workers as they take a break from school, some students are rejecting traditional summer jobs and starting their own businesses, according to the Indianapolis Star.
One high school junior, Annie Brackemyre, told the paper about her success story. She parlayed a $12,000 loan from her parents – who are charging her 4 percent interest – into a successful snow-cone shop, which she runs with her brother and boyfriend. While a lack of business experience has created a few bumps in the road, it’s been a rewarding experience.
“It’s definitely more work than I originally expected,” Brackemyre told the paper, “but it’s definitely worth it.”
The rise in small business formation by younger entrepreneurs may be linked to the relative lack of other summer jobs. A report by employment specialist firm Challenger, Gray & Christmas says that the last two summers are the worst environment for summer jobs since the 1950s. Teens will hold 4.3 million jobs this summer – a drop of nearly 500,000 compared to last year.