Infographic: Meet the Millennipreneurs

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