I recently read a blog by SCORE because it had a catchy title. I thought, "Finally, another title for my generation!" Insert awkward smile emoji. It was an okay blog with a cool infographic (included below). The cool question it asked was this...
Less millennials are starting businesses by the age of 30 than Gen X-ers and Baby Boomers, but why?
Infographic via SCORE
Being an entrepreneur myself, or rather a millennipreneur, this definately had me thinking. I agree, there are perhaps less entrepreneurs than in generations past. All the above statistics are fine, but let's get real. All of my non-yoga teacher friends have sweet salaried jobs with big time benefits. I think that is why there are less entrepreneurs than ever before. Seriously, end of story.
It is crazy to be in a world where you everyone around you gets PTO and company subsidized health insurance and a salary, and and and! Also with the ACA I am and you would be too, required by law to provide health insurance coverage. I actually just was dropped because my previous health insurance stopped providing solo plans. Add all that up and sprinkle on top pressure from parents (or in-laws) to have all of the above list of security items and voilà, less young entrepreneurs. I feel like it is a cultural reason less than all o the numbers listed above. In our culture we equate a corporate job and security with success. I think success at what cost?
It is crazy to be in a world where you everyone around you gets PTO and company subsidized health insurance and a salary, and and and! Also with the ACA I am and you would be too, required by law to provide health insurance coverage. I actually just was dropped because my previous health insurance stopped providing solo plans. Add all that up and sprinkle on top pressure from parents (or in-laws) to have all of the above list of security items and voilà, less young entrepreneurs. I feel like it is a cultural reason less than all o the numbers listed above. In our culture we equate a corporate job and security with success. I think success at what cost?
Apparently from the SCORE article, Millennials still want to own their own businesses and seem to have a better plan than past generations, but they claim they can’t afford to start their own businesses. 81% of college educated Millennials have at least one source of debt, hello student loans (could go off on a tangent about college as big business but will save that for another post)!
I think we need to change the way our culture works in America, on a lot of issues. In regards to small business ownership it is really challenging and expensive to own your own business. A lot of times I feel like giving up because it is so hard, but ultimately, I could see my life no other way. I love the freedom, and the challenge and the feeling of success I have with owning my own businesses.
I started both of my businesses with only $300.00 total, combined with a deep driving desire to make the world a better place, and no debt, thanks to a lot of hard work to eliminate debt from my life. ( I can talk about eliminating debt in another post if you like.) I've been making it work for a few years now and I love it. I really do!
I think we need to change the way our culture works in America, on a lot of issues. In regards to small business ownership it is really challenging and expensive to own your own business. A lot of times I feel like giving up because it is so hard, but ultimately, I could see my life no other way. I love the freedom, and the challenge and the feeling of success I have with owning my own businesses.
I started both of my businesses with only $300.00 total, combined with a deep driving desire to make the world a better place, and no debt, thanks to a lot of hard work to eliminate debt from my life. ( I can talk about eliminating debt in another post if you like.) I've been making it work for a few years now and I love it. I really do!
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