In contrast to the unseriousness that Pajama Boy and Jessse Myerson have recently attached to Millennials, there’s encouraging evidence that the Millennials themselves have no trouble getting real, thank you very much.
A recent Canadian survey shows that Millennials are responding to the hardships of the job market by becoming – or planning to become – entrepreneurs.
The survey, conducted by Angus Reid for Intuit in September 2013, revealed that Millennials are twice as likely to start a business in the next 12 months as Canadians as a whole.
- 8% of Canadians say they want to start up a business in the coming year, but Millennials, the number is 16%
- Millennials like the opportunity to be their own boss. They’re almost five times more likely to be motivated by that factor (78%) as by the money itself (16%)
- They’re not pie in the sky about money, though. They rated “poor understanding of finance” as the top reason for entrepreneurial failure.
The findings are consistent with US data. A survey by the Ewing & Marion Kauffman Foundation, back in 2011, found that more than half of Millennials wanted to start a business.
The Millennials have their critics; I myself have certainly ready to poke fun at some of their style points (especially when I think they get in the way of serious problem-solving). But they are responding, as a generation, to their circumstances and the cards they’ve been dealt, and we all may wind up being very happy with the eventual results.