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June 27, 2012

U.S. News

Millennials Breaking Free of Corporate America

Direct sellers take note: More than half of the nation’s Millennials are looking to break free from the bonds of Corporate America and start their own businesses.

In a recent article by Dan Schwabel, Managing Partner of Millennial Branding, a Gen-Y research-and-management-consulting firm, Millennials are taking the leap into entrepreneurship more frequently than Gen-Xers and Baby Boomers.

Schwabel references a study published last year by the Kauffman Foundation that found 54 percent of Gen-Yers either wanting to start a business or having already started one. In addition, a survey by Employers Insurance found that 46 percent of Gen-Yers want to start a business in the next five years, compared to only 35 percent of Gen-Xers and 21 percent of Baby Boomers.

A survey by Schwabel’s own company showed that the Millennial desire to start businesses is being noticed by corporations as well. Millennial Branding found that nearly one-third of employers are seeking college graduates with entrepreneurial experience, many times preferring unsuccessful entrepreneurs than students with multiple internships.

As direct sellers continue to embrace the communications, media and digital technologies that are integral to the everyday lives of Gen-Yers—and as unemployment continues to remain high among their demographic—Millennials may turn to the direct selling industry for the opportunities to become independent business owners.

To read the full article, click here.