The Youth Are Taking Over…
Millennials and Gen Zers have made some drastic changes in our work environment over the last decade or so. Before these generations entered the workforce there were no cereal bars or ping pong tables. You weren’t able to have Happy Hour on Mondays, Wednesdays, and Fridays or even flex hours. That’s not the only changes they have made, over the last decade there has been a surge of small business entrepreneurship.
Despite their massive student loan debt, 66% of Millennials want to start a business. Their motivation? They want to do work that matters to them. And if you truly think about it, they were born and raised for this.
Starting with their digital footprint. From the moment they could, Millennial’s and Zers have had access to the web, social media, smart tech, apps, and even any tv channel their heart desires. Because it’s like “riding a bike” to them, it’s a no brainer, all the information they need is always at their fingertips.
60% of Zers say that it’s important to them to do work that matters. They want to feel like they are contributing to the world. That could mean rescuing a dog or even finding a solution to homelessness. The younger generation want to come up with innovative solutions to global problems, so they can then turn it into a business pursuit.
And finally, despite all the rumors, they are hustlers. With more than half of Millennial’s and Gen Zers having more than one job. Due to entering the work force with student loans and not a lot of employment prospects, they have spent most of their careers working multiple jobs. For some, it’s a passion project, for others it’s strictly for the income. Either way, many young entrepreneurs find themselves stumbling into a business opportunity while pursing something they are passionate about.
Given their natural talents, ability to adapt, and the sheer total of the generations combined. Millennial’s alone out number boomers by over 7 million. The outlook is pretty good for the future of small businesses.