Is The Notion Of The Millennial Entrepreneur Just A Myth?

That’s what John Lettieri, co-founder of the Economic Innovation Group, testified to the Senate this past summer. Why? There’s a difference between mentality and reality.

However, studies show the average age for a successful start-up company is 40. In fact, the only age group that shows a rise in entrepreneurial activity for the last 2 decades is between 55-65.

It comes down to 2 factors:
More debt
Less risk-taking

They are starting out in more debt than previous generations and require some stability from the onset.

Big box stores, franchises and online businesses have radically changed the commercial landscape of America. As these companies age, they tend to become less efficient. That can be a problem with no businesses coming up through the ranks.

The economy is on the rise. 2015 was one of the strongest years in the last century for wage and job growth.

There may be some budding entrepreneurs waiting for the right moment to make their break from their current job.

The Millennial generation is the most educated, in a formal school setting, about the risks of starting up a business. Let’s hope that gives them a leg up if they try to make the leap to entrepreneurship.