The Exponential Growth of Millennial Small Business Owners — Oh My!

The rise of young entrepreneurs in the economic world.

With the increased industrial growth and the diversification of employment sectors, the Millennial generation is expected to become the largest demographic amongst corporate America. However, this is not as true as one might guess. Millennials are thriving in self-employment and going to the small business arena in droves. The number of young entrepreneurs is rising day in and day out.

There are several reasons that support this current trend. Financial constraints and escalating costs of living are just some reasons why Millennials are pushing to the forefront of entrepreneurship.

These entrepreneurs rely on their unique experiences to not only start businesses but drive them to success, with an emphasis on growth and expansion.

Millennials and their Businesses

Millennials who own and operate small businesses show much conviction in their companies. Most Millennials — about 80% — are always on the lookout for ways on how they can grow their enterprises, with the aim of being able to pass them down to their children at a later age.

You will find that a large number of small business owners are happy to commit to their businesses, as long as they can create a comfortable living standard for them and their children. Being identified as a business owner is something that drives many Millennials to want to succeed; 82% are motivated to be their own boss! (greater than any generation in history!)

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