Our latest infographic details the emergence of Millennial entrepreneurs, or millennipreneurs, and how successful they are compared to previous generations.
Millennials lag prior generations in starting businesses. Who’s self-employed at age 30:
- 4% of Millennials
- 5.3% of Gen-Xers
- 6.8% of Baby Boomers
42% of Millennials say they don’t have the financial means to start a business. Two-thirds have at least one source of debt:
- 30% have more than one source of debt
- 81% of college-educated Millennials have at least one source of debt
But they admire entrepreneurship:
- 78% consider entrepreneurs successful
- 62% thought about starting a business
- 55% believe that their generation is more entrepreneurial than past ones even though the data says otherwise
Reasons they start businesses:
- 40% want to be their own boss
- 21% want passion in the job
- 21% desire flexibility in time/location
- 6% looking for challenge and growth
- 5% laid off from prior job
Infographic by: www.score.org
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