Last week the Small Business Administration published the first report in a series of trends in entrepreneurship by the Office of Advocacy’s Office of Economic Research, “The Missing Millennial Entrepreneurs” by Daniel Wilmoth, PhD. The report’s focus was on how Millennials reported less self-employment than prior generations. This 6-page report analyzes important trends amongst Millennial entrepreneurs, comparing them to Generation X and Baby Boomers – ultimately suggesting that entrepreneurship among Millennials will continue to be relatively low for decades.
Some other important key points highlighted in the report include:
- In 2014, less than 2 percent of Millennials reported self- employment, compared with 7.6 percent for Generation X and 8.3 percent for Baby Boomers.
- At age 30, less than 4 percent of Millennials reported self-employment in their primary job in the previous year, compared with 5.4 percent for Generation X and 6.7 percent for Baby Boomers.
To view the full report, click here.