With high unemployment rates, and colleges not offering enough in entrepreneurial training, Lendio offers small business tips and funding opportunities for new graduates
Recently, the Bureau of Labor reported that half the states are showing unemployment rates among the younger crowd at more than 25 percent. For those interested in starting a business as an alternative, Lendio is offering new grads opportunities to find the right small business loans and other funding options.
“In a down economy, new grads are competing fiercely for jobs against highly-qualified, experienced people,” said Brock Blake, Lendio CEO. “But for many, starting a business seems like an even more daunting task than competing for a job.”
“Schools don’t adequately teach their students how to start a business, they teach them how to get a job,” said Brock Blake, Lendio CEO. “It can be unthinkable for many young entrepreneurs to leave school and start a business right away, because most the time, they have no idea how to go about it.”
A study from Cogswell College and Zogby/463 confirms Blake’s points, revealing that colleges are not focused enough on teaching entrepreneurial skills:
- 67% of Americans say schools are not focused enough on providing entrepreneurial skills.
- Only 5% of Americans say college is where students currently learn to become entrepreneurs.
- 73% of Americans say the best way to teach a student to become an entrepreneur is by them creating a business or interning in a start-up.
- 76% of Americans say students launching a business while in college will make them better entrepreneurs.
- 95% of Americans say entrepreneurism is important to U.S. Competitiveness.
- 79% of Americans say having entrepreneurial skills is important for graduates to land a job.
(Source: Zogby/463 May 2011 poll of over 2,000 Americans.)
New graduates especially don’t understand how to find capital for their new startup, Brock says.
“Capital is the lifeblood of any business. From our experience, many new college grads don’t understand what it takes to raise funding or apply to get small business loans,” Blake said. “They don’t realize there are hundreds of loan types and thousands of banks, each with different qualifications, terms, rates and more. Some don’t even know that they can qualify for a business loan, and so they don’t even try.”
Lendio is offering two opportunities for young business owners to get capital and learn how to fund their startup:
1. They can attend CrowdPitch in Kaysville, Utah on June 8, hosted by Lendio and sponsored by the NorthFront Entrepreneur Alliance. This is a two-hour, free event where companies present their ideas to an audience of their peers and a panel of investors and experts. Businesses can still apply to pitch for a limited time.
2. They can sign up for a free Lendio account. This will help them understand which business loan types and lenders they may to qualify for.
Lendio makes small business loans simple by matching qualified small business owners with active banks, credit unions, and other lending sources. Through a proprietary matching technology, Lendio helps business owners identify the type of business loan and specific lenders that offer the highest probability for that business owner to prepare for and secure a business loan approval. For more information, contact Lendio at press(at)lendio(dot)com.
Tagged with: Brock Blake • Business • Business Credit Cards • Business Loan • Business Start up • Cogswell College • College Graduate • Credit Cards • Credit score • Debit Cards • Economy • Employment • Financial • Funding • Industry • Job security • Lendio • Markets • Salt Lake City • Small business • Unemployment • United States
Filed under: Business
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