Contrary to popular belief, millennials aren’t the entrepreneurial generation they’re often portrayed to be. Data suggests that individuals under 30 are less likely to start businesses compared to the generations before them. In the late 1980s, 10% of people under 30 were self-employed. That figure has now halved.
The decline in young entrepreneurship might be due to a variety of factors. The economic recession and the burden of student loans could be discouraging young people from taking on the financial risks associated with starting a business.
Interestingly, while the number of young entrepreneurs is declining, the number of successful young entrepreneurs is increasing. This could be because the internet and other technological advancements have lowered the barriers to starting a business, making it easier for those who do take the plunge to succeed.
In summary, millennials may not be the entrepreneurial generation, but they could be the successful entrepreneurial generation.
Go to source article: http://www.theatlantic.com/business/archive/2016/07/the-myth-of-the-millennial-entrepreneur/490058/