Infographic: Meet the Millennipreneurs

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Our latest infographic details the emergence of Millennial entrepreneurs, or millennipreneurs, and how successful they are compared to previous generations.

Millennials lag prior generations in starting businesses. Who’s self-employed at age 30:

  • 4% of Millennials
  • 5.3% of Gen-Xers
  • 6.8% of Baby Boomers

42% of Millennials say they don’t have the financial means to start a business. Two-thirds have at least one source of debt:

  • 30% have more than one source of debt
  • 81% of college-educated Millennials have at least one source of debt

But they admire entrepreneurship:

  • 78% consider entrepreneurs successful
  • 62% thought about starting a business
  • 55% believe that their generation is more entrepreneurial than past ones even though the data says otherwise

Reasons they start businesses:

  • 40% want to be their own boss
  • 21% want passion in the job
  • 21% desire flexibility in time/location
  • 6% looking for challenge and growth
  • 5% laid off from prior job

Source: SCORE

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SCORE is a nonprofit association dedicated to helping small businesses get off the ground, grow and achieve their goals through education and mentorship.