Business

Millennials Drawn To Business Ownership

By Evan Belanger
The Decatur Daily, Ala.

WWR Article Summary (tl;dr) In a 2014 survey of millennials by the Massachusetts business school Bentley University, 66 percent of respondents said their career goals involved starting a business.

The Decatur Daily, Ala.

A new generation of millennial entrepreneurs is emerging in Decatur as data suggests the youthful generation — those born between 1980 and 1996 — may be more likely to rebuff traditional career paths in favor of starting their own businesses.

At least four millennial-owned businesses have opened in the city since the start of April, including a screen printer, a custom tool maker, a barber shop, and a hair extensions retailer.

Census data shows millennials still account for only a fraction of small-business ownership nationally. Just 13.5 percent were younger than 35 as of 2012 compared to 12.7 percent in 2007, according to survey data released last year.

But data also suggests millennials may be more likely to consider entrepreneurial paths as opposed to corporate careers.

In a 2014 survey of millennials by the Massachusetts business school Bentley University, 66 percent of respondents said their career goals involved starting a business.

By contrast, only 13 percent said they wanted to climb the corporate ladder to become a CEO or company president.

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