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Entrepreneurship Study 2014

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  • 1. Entrepreneurship Study 2014 06.20.14! What Millennials Really Think About Entrepreneurship! ! ! ! !!
  • 2. Who was Involved? TheYEC and Buzz Marketing Group’s Entrepreneurship Study 2014 is based on qualitative and quantitative research conducted with more than 600 buzzSpotters® throughout the United States during the months of January, February and March, 2014.This report is available for download at www.buzzmg.com/reports.! Composed based on data from 1.1.2014 – 3.22.2014! 684 Participants! 30,000 Panelists! 48% Female! 52% Male! Survey fielded online! Ages 18-40! 18-22 ! ! ! !19%! 23-26 ! ! ! !23%! 27-31 ! ! ! !26%! 32-35 ! ! ! !16%! 36-40 ! ! ! !16%! What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014!
  • 3. Location What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! NY# 16%# CA# 14%# IL# 9%# TX# 6%#FL# 4%# PA# 5%# GA# 6%# Rest#of#USA# 40%#
  • 4. Ethnicity What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! White# 60%# Black# 16%# Asian# American# 8%# Hispanic# 12%# Mixed# 4%#
  • 5. Marital Status What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! Single# 25%# DaPng# 6%# In#a# relaPonship# 29%# Married# 40%#
  • 6. Education What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! High#school# diploma# 27%# Associates# Degree# 16%# Bachelors# Degree# 43%# Masters# Degree# 12%# Doctorate# 2%#
  • 7. Employment What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! Unemployed# Working#partT Pme# Working#fullT Pme# SelfTemployed# A#student# A#fullTPme# home#maker# 2%# 7%# 47%# 35%# 7%# 2%#
  • 8. Household Income What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! Less#than# $8,000# $8,000#T# $33,000# $33,000T# $82,000# $82,000#T# $170,000# $170,000#T## $370,000# More#than# $370,000# I#don't# want#to# specify# 11%# 17%# 39%# 18%# 2%# 1%# 12%#
  • 9. The following questions were asked to aspiring entrepreneurs and aspiring small business owners:! What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014!
  • 10. Do you believe that entrepreneurship education is important given the new economy and job market?! What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! Yes# No# 94%# 6%#
  • 11. Do you feel that colleges and higher education institutions are helping startups?! What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! Yes# No# 73%# 27%#
  • 12. What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! Have you ever been offered a class in entrepreneurship?! Yes# No# 38%# 62%#
  • 13. If you did have an entrepreneurship class, do you think that it was adequate enough to start a new business post-school?! What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! Yes# No# 38%# 62%#
  • 14. Have you ever been offered a class in coding?! What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! Yes# No# 23%# 77%#
  • 15. What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! If you have never been offered a class in coding, would you have liked to have been offered a class?! Yes# No# 79%# 21%#
  • 16. What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! Have you ever worked as a freelancer in your chosen field?! Yes# No# 46%# 54%#
  • 17. If not, would you consider working as a freelancer in your chosen field?! What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! Yes# No# 89%# 11%#
  • 18. Are you interested in starting your own business?! What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! Yes# No# 82%# 18%#
  • 19. Do you think that unpaid internships are helpful ways to gain skills you can use to start a business?! What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! Yes# No# 82%# 18%#
  • 20. Do you believe a college degree is a prerequisite for starting a company or working at a startup?! What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! Yes# No# 40%# 60%#
  • 21. Would you like to work for an entrepreneur?! What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! Yes# No# 88%# 12%#
  • 22. Do you feel that an MBA is a worthwhile investment?! What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! Yes# No# 68%# 32%#
  • 23. Do you believe that you will be a business owner or self-employed at some point in your career due to the new economy?! What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! Yes# No# 81%# 19%#
  • 24. Do you want to pursue entrepreneurship at some point in your lifetime?! What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! Yes# No# 87%# 13%#
  • 25. Do you think it is more difficult to become an entrepreneur if you are ____?! What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! a#woman# a#minority# not#college# educated# from#a#lowT income# community# young#(18T35)# 52%# 52%# 59%# 78%# 46%# % of participants who answered “yes”#
  • 26. If you were unemployed which of the following would you be more likely to do?! What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! Take#any#job# Keep#looking# Create#a#job# Go#back#to#school# 21%# 23%# 37%# 19%#
  • 27. Would your parents prefer that you get a “real job” or start your own business?! What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! get#a#"real#job"# start#your#own#business# 61%# 39%#
  • 28. What is the most important thing that a startup can offer you to consider working there?! What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! Strong#office#culture# Health#Insurance# Job#training#and# conPnued#educaPon# 29%# 22%# 49%#
  • 29. Key Findings What Millennials Really Think About Entrepreneurship! Entrepreneurship Study 2014! 94% believe that entrepreneurship education is important given the new economy! 89% would consider working as a freelancer in their chosen field! 87% want to pursue entrepreneurship at some point in their lifetime! 78% believe it is more difficult to become an entrepreneur if you are from a low-income community! 62% do not believe their entrepreneurship class was adequate enough to start a business post-graduation!
  • 30. Buzz Marketing Group ! 132 Kings Highway! East Suite 202! Haddonfield, NJ 08033! 856.433.8579! Fax: 856.520.8581! www.buzzmg.com! Contact Us