Entrepreneurship In 2017
According to a Business Week and study by Boston Consulting Group, “10 million people said they are considering starting their own businesses in the future.” The number is the largest seen in 25 years. This comes as no surprise to us as interest in entrepreneurship is rapidly expanding among the Generation Y demographic. The same study showed that “6 million people actually followed through and started those businesses, and one-third of them are doing business globally.”
In the future, entrepreneurs will be young as well as old, more feminine, and more global than they are today. Another observation from the 9,500 interviews of university professors and teachers of entrepreneurship programs, small-business owners, and bloggers, who write on the subject, revealed that many entrepreneurs can actually be called “accidental entrepreneurs.” Why is this? Business Week explains:
There are 20 million businesses—out of the 26 million businesses total in the U.S.—that have no employees. We found that a good portion of them don’t call themselves small-business owners, but freelancers or hobbyists.
Why are there more Gen Y Entrepreneurs?
We call them “mods” because of the way they modify and customize everything, from their cars with the spinners on the wheels to their unique cell phone ringtones to their MySpace accounts, none of which are exactly alike. They’re configurable, customizable markets of one as consumers, and as adults they want to be independent from the beginning of their careers and never work for an established corporation. We also believe they’re fueling a huge trend toward increasingly sophisticated business technology.
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