tech.co – Millennials are poor, and poor people don’t have the freedom to become entrepreneurs.
How bad is it? As previously covered , 63 percent of millennials can’t scrape together 500 dollars with no notice, and 79 percent are concerned that they will never have a retirement plan. The result is a significant drop in millennial founders: The average successful startup founder is in his or her 40s, according to data from the Kaufman Foundation. In this article, we’ll dig into the most recent data surrounding the state of our economy and how millennial founders are working around it — or aren’t working around it, as the case may be.
A joint public opinion survey from Economic Innovation Group (EIG) and professional services firm EY polled 1,200 millennials in order to learn more about them. Here’s a few of the most interesting takeaways.
“Even though 62 percent of Millennials have considered starting a business and 51 percent know someone who started or worked for a startup, only 22 percent believe entrepreneurship is the best way to advance their career.” “42 percent of Millennials lament that they don’t have the financial means to start a business. Across demographics, white men are least concerned with finance, with only 40 percent citing it as the biggest obstacle compared to 53 percent for black women and 59 percent for Hispanic women.”
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