‘ MILLENNIALS


EXACTLY HALF (50%) OF ADULTS aged 23 to 38 expressed their hope that they will one day run their own business, with 35% going as far as to call it a life goal of theirs. The survey carried out by Informi revealed that members of the


millennial generation added that their main reason for wanting to start their own SME was due to the need to earn more money (41%) and to do something on the side of their day job (28%) – rather than necessarily because they have a great business idea (22%) or have spotted a niche in the market (18%) – suggesting that the effects of the credit crunch and subsequent recession have had a particularly strong effect on this generation. But millennials also have


Would like to run their


own business Would call it a life goal


to set up their own business Confident that their business


Would make a good boss (once MILLENNIALS LEADING THE WAY... 50% 35% 65%


would be a success Would enjoy working on their own 73% 54%


the determination to make any business venture a success, according to the study. 65% said they were very or fairly confident that they would run a successful SME, while 74% already monitor their work emails outside of office hours. A further 73% say they would enjoy working on their own – with 54% adding they would make a good manager when their business was able to take on extra workers.


their business started employing) Monitors work emails outside Thinks about work outside of office hours


74% 88%


Generation Y Generation X Baby Boomers (23-38)


(39-53) 38%


25% 70%


76% 57%


66% 91%


(54-72) 20%


9% 54%


73% 54%


59% 86%


THE MOST ENTREPRENEURIAL GENERATION’


The millennial generation is the one who is most keen to set up their own small businesses in the future – and has the right attributes to make their ventures successful, according to a recent study


The study suggested that millennials’ passions were to set up


SMEs that, most importantly, made a difference, offered work-life balance and job security. Baby boomers, in contrast, valued having interesting work and having a passion for the job that they did. While 35% of millennials favour the retail sector as the


best industry to start their business in, some 12% preferred the education sector as their most likely home. Information technology (11%) and healthcare (7%) also proved popular choices. “Great businesses ultimately come


in all shapes and sizes, and from all generations,” said Steven Drew, product manager for Informi. “But the rise of the millennials as entrepreneurial champions could help to encourage other adults from their generation to take the plunge into setting up their own business – something that over 550,000 people in the


UK did during 2017. Those considering setting up a business need to be aware of the risks involved and the need to gain support, but having a strong business plan and the means of financing a venture could lead to you playing a crucial role in benefiting the British economy.”


A HOLIDAY? I’D RATHER HAVE A DECENT COFFEE…


NEARLY HALF OF MILLENNIALS would turn down higher wages and longer holidays for better coffee at work, says a new survey which reveals that 21% of 18-24 year old employees would say no to a pay rise of as much as 5% if it meant better brews. And almost a third (32%) said that they would forego additional


annual leave, with 12% turning down a full week’s extra holiday for a decent tea break. The survey of 2,000 British employees by Printerland.co.uk


also found that only 15% of Gen Xers were willing to trade in their time-off for a better standard of coffee, and only


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9% would pass on a pay increase. However, the 35-44 year olds were the most keen to give up social events with 10% willing to cancel the Christmas do. Millennials were the least happy to pass on a party with only 5% saying they’d rather have the coffee. Catherine Bannan, HR Manager at Printerland.co.uk, said: “Millennials


are oſten labelled as unsatisfied with regards to their jobs. However, we believe that it’s simply a case of different priorities. Our survey suggests that 18–24 year olds value the social aspects of work more. They appreciate being a part of a team and put greater importance on the water cooler moments and tea breaks."


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