Monster.com and Millennial Branding, a Gen Y research and management consulting firm, have released a study that reveals new data on multi-generational entrepreneurship.
While many studies finds Gen Y (ages 18-29 years) as more entrepreneurial than other generations, the study actually found that the inverse is true.
According to the data, 41% of Gen X (ages 30-49 years) and 45% of Boomers (ages 50-69 years) consider themselves to be entrepreneurial, compared to only 32% of Gen Y.
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Where did the data come from? An invitation to the survey was sent to 200,000 randomly selected Monster users who were asked to participate in the survey and nearly 3,000 participated by completing the online form.
This indicates that, “the internet has created opportunities, not just for Millennials but for all generations of workers,” said Dan Shawbel, Founder of Millennial Branding and Author of ‘Promote Yourself.’ It has lowered the barriers to entry to starting a business, given everyone the tools to connect and now all you need is an idea and a website to have a startup.”
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Entrepreneurs generally share an appetite for risk – a characteristic that only 28% of Gen Y respondents were found to identify with their jobs, as opposed to 40% of Gen X or 43% of Boomers. This data may be a result of 55% of Gen Y indicating that they viewed their current job status as “temporary,” identifying their current employment status as a stepping stone within their ultimate career path. In fact, only 26% of Gen Y had intentions to stay with their present company for a long period of time.
The study also revealed that the concept of intrapreneurship is ever-present within many companies today. An intrapreneur is defined as “a person within a large corporation who takes direct responsibility for turning an idea into a profitable finished product through assertive risk-taking and innovation.”
While many – nearly one third – of all respondents feel they have the option to be an intrapreneur, only 23% felt encouraged to work on such projects. Slightly more Gen Y respondents, however, felt that they had their management’s support in intrapreneurial endeavors.
“This survey revealed that the entrepreneurial spirit resides in all of us and across all generations of workers,” said Jeffrey Quinn, Vice President, Global Monster Insights.