Millennials' views on entrepreneurship

Entrepreneurship Study 2014
06.20.14!
What Millennials Really Think About Entrepreneurship!
! ! ! !!

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%!
Entrepreneurship Study 2014!

Location
NY#
16%#
CA#
14%#
IL#
9%#
TX#
6%#FL#
4%#
PA#
5%#
GA#
6%#
Rest#of#USA#
40%#

Ethnicity
White#
60%#
Black#
16%#
Asian#
American#
8%#
Hispanic#
12%#
Mixed#
4%#

Marital Status
Single#
25%#
DaPng#
6%#
In#a#
relaPonship#
29%#
Married#
40%#

Education
High#school#
diploma#
27%#
Associates#
Degree#
16%#
Bachelors#
Degree#
43%#
Masters#
Degree#
12%#
Doctorate#
2%#

Employment
Unemployed# Working#partT
Pme#
Working#fullT
Pme#
SelfTemployed# A#student# A#fullTPme#
home#maker#
2%#
7%#
47%#
35%#
7%#
2%#

Household Income
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%#

The following questions
were asked to aspiring
entrepreneurs and
aspiring small business
owners:!

Do you believe that entrepreneurship education
is important given the new economy and job
market?!
Yes# No#
94%#
6%#

Do you feel that colleges and higher
education institutions are helping startups?!
Yes# No#
73%#
27%#

Have you ever been offered a
class in entrepreneurship?!
Yes# No#
38%#
62%#

If you did have an entrepreneurship class, do
you think that it was adequate enough to start
a new business post-school?!
Yes# No#
38%#
62%#

Have you ever been offered a class in
coding?!
Yes# No#
23%#
77%#

If you have never been offered a class in
coding, would you have liked to have been
offered a class?!
Yes# No#
79%#
21%#

Have you ever worked as a freelancer in
your chosen ﬁeld?!
Yes# No#
46%#
54%#

If not, would you consider working as a
freelancer in your chosen ﬁeld?!
Yes# No#
89%#
11%#

Are you interested in starting your own
business?!
Yes# No#
82%#
18%#

Do you think that unpaid internships are helpful
ways to gain skills you can use to start a business?!
Yes# No#
82%#
18%#

Do you believe a college degree is a prerequisite
for starting a company or working at a startup?!
Yes# No#
40%#
60%#

Would you like to work for an
entrepreneur?!
Yes# No#
88%#
12%#

Do you feel that an MBA is a worthwhile
investment?!
Yes# No#
68%#
32%#

Do you believe that you will be a business
owner or self-employed at some point in your
career due to the new economy?!
Yes# No#
81%#
19%#

Do you want to pursue entrepreneurship
at some point in your lifetime?!
Yes# No#
87%#
13%#

Do you think it is more difﬁcult to become an
entrepreneur if you are ____?!
a#woman# a#minority# not#college#
educated#
from#a#lowT
income#
community#
young#(18T35)#
52%# 52%#
59%#
78%#
46%#
% of participants who answered “yes”#

If you were unemployed which of the
following would you be more likely to do?!
Take#any#job# Keep#looking# Create#a#job# Go#back#to#school#
21%# 23%#
37%#
19%#

Would your parents prefer that you get
a “real job” or start your own business?!
get#a#"real#job"# start#your#own#business#
61%#
39%#

What is the most important thing that a
startup can offer you to consider working
there?!
Strong#oﬃce#culture# Health#Insurance# Job#training#and#
conPnued#educaPon#
29%#
22%#
49%#

Key Findings
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!

Buzz Marketing Group !
132 Kings Highway!
East Suite 202!
Haddonﬁeld, NJ 08033!
856.433.8579!
Fax: 856.520.8581!
www.buzzmg.com!
Contact Us

Millennials' views on entrepreneurship

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