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Why Millennials Make Great Entrepreneurs

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millennial, girl, teenager, young woman

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Those in the millennial generation are well and truly tired of being the butt of baby boomers’ jokes. We’re sick of unfair stereotypes about indolence, entitlement and avocado flipping toast. We’re also sick of being fed the same empty platitudes about how education is the gateway to opportunity right before being thrust into an impenetrable job market with the ball and chain of tens of thousands of pounds’ worth of debt around our ankles. We’ve had enough of middle aged outrage mongers like Piers Morgan and their jeering attempts to belittle and deride us in haughty think pieces in the broadsheets. We’ve had enough of exploitative unpaid internships and zero hour contracts.

millennial, girl, teenager, young woman

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That’s why so many legions of millennials have chosen to thumb their noses at the job market as their parents know it. Frustrated by the lack of opportunities in the world of work, they’ve decided to create their own opportunities through endeavour, self employment, freelancing and entrepreneurship. Here we’ll explain why this industrious and digitally savvy generation can often make the best entrepreneurs…

They know how to work with money… Because they’re used to being skint
Despite the stereotype that millennials lead lavish lifestyles at the expense of their credit cards, most millennials are actually pretty shrewd money managers. Why? Because they’re used to being brassic. They’re accustomed to making every penny count in a climate of wage repression and over inflated living expenses, where rental prices are outrageous yet the prospect of home ownership is an unattainable pipedream. You can count on them to take the time to look for the best value public liability insurance. They’ll be the first to haggle with vendors. They’ve spent most of their lives trying to do a lot with a little.

They’re digital and social natives
Many businesses spend a fortune on digital marketing and social media outreach to ensure that their brand makes the right impression on the right consumers. However, millennial entrepreneurs take to this like a duck to water because they are digital and social natives. They’ve spent most of (or even all of) their adult lives around the internet and social media platforms and have an intrinsic understanding of how they work and how to present themselves on them in ways money simply cannot buy.

They’re committed to ethics and sustainability
Millennials have inherited a world on the brink of ecological devastation. A world in which companies have grown bloated on the exploitation of their workers and the devastation of the environment. Rather than jumping on the “profits before principles” bandwagon they are more likely to create more ethically aware and sustainable enterprises than their forebears may have been inclined to… As younger consumers demand more of this from businesses this commitment to ethics and sustainability can help them find success and resonate with their target market.

They thrive on innovation
Finally, younger generations tend to want to build on and improve the ideas of those who have come before. For millennials, however, innovation is a fact of life with which they’ve grown up. They reached maturity in a time of colossal technological, social and cultural change so you can count on them to blow apart the paradigms of old and approach the challenges of the business world with a fresh and innovative approach!

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Business · Career

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