Are Gen-Y really more entrepreneurial than their predecessors?
We might often believe that the next generation are more tech-savvy than baby boomers, and as the job market remains fragile, more and more young people entering the workforce look towards being their own boss. But is this entrepreneurialism a generational trait, and do workers in different generations believe they are more entrepreneurial than other age groups?
A new study released by Millennial Branding and Monster.com found that 41 percent of Gen X employees — those between 30-49 years of age — and 45 percent of baby boomers — aged between 50-69 years — consider themselves more entrepreneurial than older generations, in comparison to only 32 percent of Gen-Y, those aged between 18 and 29.
“The internet has created unique entrepreneurial opportunities, not just for Millennials but for all generations of workers,” said Dan Schawbel, Founder of Millennial Branding. “We don’t see the same barriers to entry to starting a new business as we saw 10 years ago. Everyone has the technology to connect and now all you need is an innovative idea and a website to create a startup.”
The need for businesses to be competitive in today’s marketplace seems to have not only encouraged the growth of startups — often helped along by crowdfunding sites like Kickstarter — but means that some corporations are comfortable and supportive of entrepreneurial employees. Nearly a third of respondents felt they had the creative license, flexibility and resources to be an intraprenuer, and while 42 percent of those surveyed said they could work on projects outside of their usual working scope, only 23 percent felt encouraged, something that businesses may want to consider when encouraging creative talent.
But what about risk? Interestingly, Gen-Y is considered less “risk adverse” than older counterparts, with 28 percent identifying with being high risk in comparison to 40 percent of Gen X and 43 percent of Boomers who felt the same way, perhaps as job-hopping is far more commonplace than in years past.
Interested? View the infographic below:
Image credit: Faramarz Hashemi