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BizReport : Research : February 27, 2013

Report finds Boomers leading the entrepreneurial way

It may seem as if more Gen Y or Millennials are working for themselves rather than a corporation, but new data shows older workers actually take more risk when it comes to starting a business.

by Kristina Knight

According to new data out from Monster Worldwide and Millennial Branding 42% of thoseMonster-Infographic.jpg surveyed believe they have the 'creative freedom' to potentially start a new business. But less than one-quarter (23%) feel encouraged to actually work on their entrepreneur projects.

Some interesting findings include:

• 32% of Gen Yers consider themselves entrepreneurs
• 41% of Gen Xers consider themselves entrepreneurs
• 45% of Boomers considers themselves entrepreneurs

"The internet has created unique entrepreneurial opportunities, not just for Millennials but for all generations," said Dan Schawbel, Founder of Millennial Branding and author of Promote Yourself. "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 website to create a startup."

What's more, when it comes to actually starting up a new business about 28% of Gen Y respondents say they're 'high risk' but 40% of Gen Xers and 43% of Boomers said they were willing to take risks to start a new business.

"Despite the reports that say Gen Y is the most entrepreneurial generation, our study shows that Gen X and Boomers consider themselves to be entrepreneurs over Gen Y," said Schwabel. "This could be because older generations have more experience, resources and are in decision making roles that enable them to bring new ideas and projects to life."

You can read more about the study here.

Tags: entrepreneur trends, Millennial Branding, small business, SMB trends

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