Millennials are those born between 1980 and 2000. Also known as ‘Generation Y’, they are the newest recruits to the world of business and enterprise. But how do they differ from those before them? Why (and how) are they making millions?
Firstly, we must consider that Gen Y is more tech savvy on the whole than their parents. Computers for private and business use become popular in the early nineties, spawning a new generation who have never lived unconnected from the clutches of the internet. They are the online entrepreneurs, people like Mark Zuckerberg and Larry Page who have made millions from websites like FaceBook and Google. However, these Millennials don’t necessarily need to invent the next search engine to succeed in enterprise. Many of Gen Y are small online retailers, who have tailored the new marketplaces such as eBay and etsy.com to work in their favour. And whilst some older employees may have doubts about the invasion of technology in enterprise, Millennials are being taught from a young age the skills they need to succeed in business.
Primary school children are using word processors and making PowerPoint presentations at the age of seven, whilst some people at seventy don’t know how to turn a computer on.
We must also consider that Millennials are more independent and less traditional than their parents’ generation. They have built thriving businesses from the ruins of a recession and according to a recent Deloitte poll, 70 percent of Millennials say they’d reject traditional business to work independently. Even more encouraging is the optimism shown from these business owners, who are hiring more and more new staff and contributing to both the local and national economy. Its easier than ever to start your own business. For all the advice you need to starting your own business go to www.fermanaghenterprise.com
Millennials are changing the face of entreprise as we know it, and will continue to do so for the next 10-20 years. The question is, are we ready to accept that change?