Youth Entrepreneurship Study - by BMG and YEC

Buzz Marketing GroupYouth Entrepreneurship Study Presented by

OverviewResearch took place during January of 2011 ✩Teens and Adults between 16-39✩Men and Women✩1,635 respondents45%

DemographicsThe majority of respondents who participated in this survey were from one of the following states: Michigan

Demographics45%Age Distribution

Demographics 62% 38%45%Gender

EducationWhat school do you/did you attend?45%* These are the top 10 schools that the participants attended

Education”Yes, I took some but did not feel they were that good””Not in school, I’ve taken several from non-profit programs””If they were offered I would be interested””I went to a few meetings that were advertised as entrepreneurship classes but ended up being sales pitches”

Education”Success has to come from experience, not just education.””Absolutely. I successfully started my own business after college””I did not feel like they were in line with the current economy””I failed in my first start-up; class did not help in real world”Entrepreneurship 101

Education”I believe entrepreneurship education is very important and don't see much of it.””its required to face market challenges which are not in books””if people can learn to support small businesses and sustain the economy on that rather than big business, the country may be more economically stable.””I don't think a true entrepreneur really needs to be taught how to be an entrepreneur.”

EmploymentOther:FreelanceFull-time homemakerPer-contractStudent

Employment”I feel isolated and there are few meet and greet or networking venues available.””It is hit or miss. My family and long time friends do not understands the demands of owning your own business. Other business owners are so busy with their businesses I don't get to exchange ideas with them as much as I would like to.””I work part-time and run my own business as a clinical licensed massage therapist. Support system is all about networking and that is always a continued adventure”

Employment“ It is difficult to get loans, even with good credit, because I am self-employed..”” Hard to get loans for small businesses owned by minorities or women.””I don't believe in banks. Credit Unions are the way to go.”

Government Support”Not enough, as government tends to support large business more by giving them huge tax breaks compared to small business owners””Couldn't afford an accountant, and no "free" business help, so many tax breaks, and write-offs went untaken because of the price..””If you are a small business they want to loan you money not bail you out at the same rate the corporations get or give you a grant”

Healthcare”I don’t know; my company pays it””Government plan””I pay as I need it””supplied through my scholarship””I have welfare insurance””I have Medicaid”

Self-employment”I'm a brain worker, I do not wish to have to deal with the other aspects of self-employment. It is too stressful””the economy, taxes, regulatory fees, and overall business climate””Currently making a good wage and self-employment risks are high and my passions do not look profitable enough”

Youth Entrepreneurship Study - by BMG and YEC