Education or starting a business

[deborah]

I have just read this article

http://www.canberratimes.com.au/small-business/managing/blogs/the-venture/a-question-of-education-20140917-3fwxj.html

where the writer suggests that instead of paying a lot for a private education, and/or for your children to go to university straight away, you should encourage them to start a business (or 5). He makes some interesting points.

[LennStar]

The problem with businesses is, that 85% are dead after the first 3 years. Mostly leaving the owner with debt.

[gimp]

If the business is bootstrapped and doesn't need to be financed, then 18 is the perfect age to start one - no risk except for wasted time.

Except, you know, there are a ton of things you will probably never figure out by starting a business until you get educated in business and/or work for one that's already figured it out.

[GizmoTX]

It's the rare individual who is successful at running a business, especially if it's the first job. It's better to start out learning on other people's money (employment), preferably at a bigger company than a startup. A startup requires all kinds of skills, including knowing how to deal with people & basic accounting.