This is the second in our series of blog posts presenting our winner and finalists of the Youth Essay Competition, which was held as part of the SME Assembly 2016 which took place from 23-25 November 2016 in Bratislava, Slovakia. Today we get to know another runner up, Frici Barabas, a young ‘wantrentrepreneur’ and freelancer with both a t-shirt printing business alongside his online venture ‘digital lifestyle’. Digital lifestyle  is an online space that offers courses on how to be a better entrepreneur, the basics of marketing and other services those seeking to build their online lifestyle may need. So far he has 5000+ students under his guidance, yet this is nowhere near the end point for this ambitious ‘wantrentrepreneur’!
Today Frici shares what drove him to participate, his experience at the SME Assembly 2016, where he sees the future of entrepreneurship going and his advice for others leaning towards entrepreneurship as a career.
What made you enter the SME Youth Essay Competition?
I first heard about this competition through Facebook and decided that not only was it interesting as an aspiring entrepreneur myself, but I also saw it as an opportunity. My essay was my chance to say something to the world and put my voice on the European stage.
What did you think about the SME Assembly 2016?
I really enjoyed the interactive sessions, they were useful and gave me an opportunity to meet people from all across Europe with different solutions to the same problems we are all facing. I have to say that there was not a lot of youth representation, which was something that I expected and would have liked. I did however like the Erasmus for young entrepreneurs booth in the Expo and enjoyed interacting and connecting with the people there. I also really liked the social media coverage and the ‘no paper policy’ of the assembly, which forced us to use the app and our blendology badges to interact with each other and move around the conference. Paper has its magic, you can see when you create or write something but we are heading towards a digital age and we need to follow the path that is leading us there.
Looking 10 years ahead from now, in 2026, what do you think entrepreneurship will be?
We are already starting to see a shift which I believe is the trend that will emerge as we look ahead. Currently most people are employees, with only a few in the position of employer. This balance is beginning to change as more workers becoming freelance or contractors, as opposed to staying within the traditional fixed position structure. I see this change continuing, with the future being comprised of small groups of people working together to create and give customers an experience. This element of experience ties into how I think we will evolve digitally. In the words of Gary Vee ‘the mobile is the new TV’, he is right, in 10 years anything that does not work on mobile is simply not going to work. The young generation is growing up with mobile devices, so everything should be possible on mobile and most importantly be user-friendly.
I also want to share advice which can be taken now in preparation for the future. In my view those that are 15+ should pursue entrepreneurship, it is the best moment to do it and the cost of starting a business in the digital era is much lower than it was say 20 years ago. Failure is also very important, it is acceptable because it ultimately helps you to progress and not just your failures, learn from other people’s mistakes as well.
Want to find out more? Read Frici’s Youth Essay Competition entry here .