The Millennial generation, which currently represents those ages 18 to 25, may be a uniquely entrepreneurial-minded age group, according to a survey released Tuesday by Employers Holdings.
Nearly half of Gen Y respondents - 46 percent - claimed they plan to launch a business within the next five years, while 8 percent claimed they already have. Generation X - individuals aged 26 to 45 - showed similar ambition, as 35 percent claimed they plan to start a company over the next five years.
Not surprisingly, the drive tapered off with age, as only 21 percent of Baby Boomers (ages 46 to 65) plan to start a business, compared to only 4 percent of the Silent Generation (over 65).
The report is encouraging to many, as Generation Y has been criticized by many as being an overly choosy and disloyal age group. Accordingly, many have responded to the survey suggesting that it is not disloyalty that afflicts this generation, so much as an overwhelming desire to be one's own boss, which could be interpreted a number of ways.
In New York City, it is true that a number of recent tech startups - ventures like foursquare and GroupMe that have put the city's entrepreneurial scene back on the map - have been founded by Millennials and Gen X members, leading to a slew of New York LLC filings.
Tags : incorporation news, ny, small business management
Posted: Jan 18th, 2011