Thirty-five percent millennials aged 18 to 35 say they plan to start their own company in the next five years, according to the latest reading of an ongoing query by Comparably. While most of them won’t actually do so (young people aged 20-34 have been shown to have the lowest rates of starting new businesses, according to the Kauffman Index), the data suggests employers could benefit by creating more intrapreneurial opportunities for employees.
Smitten with entrepreneurship
People aged 26 to 30 showed the most desire to start a business (37%). The desire to start a new business dropped off after age 35, falling to a low of 16% among 56 to 60 year olds.
Men vs. women
Men were more likely than women to want to start a business in the next five years (37% vs. 27% of women).
Most entrepreneurial cities
People in Los Angeles, New York, San Francisco, and Atlanta showed the highest rates of wanting to start a new business in the next five years (35% or more). People in Minneapolis (22%) and D.C. (26%) had the lowest rates.
The latest reading is as of Jan. 11. More than 10,000 people responded to the study, predominantly from the tech sector.
