Millennials and Money: New Face Of Entrepreneurship

by February 24, 2015
via Pixabay

via Pixabay

Despite being dealt one of the worst economic situations in recent history, Millennials are optimistic about money. This is especially true in the U.S. where, according to a Pew Research study, young people are more likely to be optimistic than their counterparts in Europe.

One of the byproducts of this optimism is that more young people are becoming entrepreneurs. CNBC reported earlier this month that 18 percent of the population between the age of 25 and 34 are starting businesses in the United States, which is up from 15 percent in 2013.

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There are a number of reasons starting a business is attractive to young people. Technology and how comfortable Millennials are using it is certainly one, as the CNBC article points out:

The fact that there are fewer barriers to entry is one factor boosting entrepreneurial optimism globally, Kelley pointed out, with technology a leading force in this shift.

Millennials also want a career that is going to satisfy their passions as well as their desire to work for a company that isn’t just focused on profits. If they can’t land a job that fulfills one of those requirements, starting their own business that will is worth the risk.

With technology and a new push to follow passion, this is a new age of entrepreneurship, one many older generations might not totally understand. Starting a business, even taking over a family business, isn’t what it used to be.

This week, we will feature a few young business owners that make up the new look of entrepreneurs in the U.S. From yo-yos to stage shows, these young professionals show how far a passion, however obscure, can go in the business world.