Roughly 20% of all small businesses in the U.S. fail within the first year. This figure grows to 50% by the 5th year, and then balloons to 65% by the 10th year.
The world of business is not for the faint of heart.
And for this reason, it’s all the more impressive when young entrepreneurs and businessmen are able to make a name for themselves.
Here is a list of the 5 young business moguls to be on the lookout for this fall.
1. Timothy Armoo
23-year old Timothy Armoo is the CEO and co-founder of Fanbytes. A social media marketing company that helps forward-thinking and progressive brands connect with Gen Z.
His ambition and pioneering mentality have allowed him to see the trends and nuances of the upcoming generation.
His philosophy of niching down to serve a narrow corner of the market has contributed to his level of success at such a young age.
2. Jack Parsons
Jack Parsons has an admirable mission. At the youthful age of 26, he is determined to help young people who feel they’ve been abandoned by the system.
He aims to assist those without formal education earn apprenticeships, find mentors, and secure employment.
A challenging childhood of being ignored by teachers has inspired him to be an advocate and sounding board for the youth.
3. Ben Francis
From delivering pizzas in University to jumping into the world of big business. Ben Francis (age 27) has proven himself a force to be reckoned with.
At 19, he became the founder and CEO of Gymshark, a fitness and apparel accessory brand that now grosses over $230 million a year.
As far as business owners go, Ben is one of the most humble modest of them all — constantly acknowledging his team for his growth and success.
4. Kofi McCalla
Acknowledged as a pivotal influencer in the world of menswear, Kofi is a staple in the community of men’s fashion. With over 100 million views on his YouTube series “The Unknown Vlogs”, he continues to grow and evolve.
At only 23 years old, Kofi is an inspiration to young businesswomen and men everywhere as he breaks down barriers of what is possible for young people.
This is evident in the enterprise he has constructed that has collaborated with heavy-hitters such as Drake.
5. Ben Towers
The old expression “age is just a number” takes on a whole new level of relevance with Ben Towers. At 11, he started his own digital media company.
And now, at 23, Towers is known as an entrepreneurial juggernaut.
Being recognized by the likes of Richard Branson Michael Mercieca, and Matthew Gline, Towers is a force in the business world that continues to make waves.
Businessmen of the Future
The future looks promising with the bright minds of entrepreneurs and young businessmen leading the way. They are trendsetters that are doing all they can to make the lives of their market easier and more convenient.
And that’s why these are the entrepreneurs you should be keeping an eye on for this fall season.
If you enjoyed this article, be sure to check out some of our other posts in our business category.