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Strike a Deal With Young Entrepreneurs

Small business loans can help business-minded millennials get the fuel they need to kick their ideas into motion.

By Manpreet Nat | Updated on October 30, 2015
The show “Shark Tank” has become a constant in my life. Every Friday at 8 p.m., I’m glued to my television as I watch entrepreneurs pitch their business ideas to a panel of investors – “sharks” – in the hopes of landing an investment deal. The sharks are all well-respected (and rich) entrepreneurs themselves. “Shark Tank” showcases a wide range of businesses; some are innovative and cutting edge, others are gimmicky or silly.

Recently, I started paying closer attention to the type of entrepreneurs frequenting the show. They’re usually young (with ages ranging from 18 to 35), ambitious and naïve – in a good way. A show based on venture capitalism isn’t what many would consider “must see TV.” However, we should all applaud the creators of the show for giving young entrepreneurs an outlet to showcase and scale their ideas.

Credit unions like to talk about making a difference in members’ lives, but what are they really doing to serve young entrepreneurs? The determination of young adults to become the next generation of business owners is great. A recent Filene report, “Credit Unions and Young Entrepreneurs,” indicates 87% of young adults have “somewhat favorable” opinions when it comes to entrepreneurship. As college costs continue to rise, many young adults will view entrepreneurship as an attractive alternative.

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