Entrepreneurship Study 2014 2.0

Millennials Study 2014

04.30.14!

What Millennials Really Think About Entrepreneurship: !! ! ! !Current Small Business Owners!

Who was Involved?

Buzz Marketing Group’s Millennials Study 2014 is based on qualitative and quantitative research conducted with more than 600 buzzSpotters® throughout the United States during the month of January, 2014. This report is available for download at www.buzzmg.com/reports.!

Composed based on data from 1.1.2014 – 3.22.2014!

684 Participants!30,000 Panelists!

48% Female!52% Male!

Survey fielded online!

Ages 18-40!18-22 ! ! ! !19%!23-26 ! ! ! !23%!27-31 ! ! ! !26%!32-35 ! ! ! !16%!36-40 ! ! ! !16%!

What Millennials Really Think About Entrepreneurship!

Millennials Study 2014!

Location



NY#16%#

CA#14%#

IL#9%#

TX#6%#FL#

4%#PA#5%#

GA#6%#

Rest#of#USA#40%#

Ethnicity



White#60%#

Black#16%#

Asian#American#

8%#

Hispanic#12%#

Mixed#4%#

Marital Status



Single#25%#

DaPng#6%#

In#a#relaPonship#

29%#

Married#40%#

Education



High#school#diploma#27%#

Associates#Degree#16%#

Bachelors#Degree#43%#

Masters#Degree#12%#

Doctorate#2%#

Employment



Unemployed#3%#

Working#partTPme#

13%#

Working#fullTPme#53%#

SelfTemployed#

7%#

A#student#11%#

A#fullTPme#home#maker#

13%#

Household Income



Less#than#$8,000#

$8,000#T#$33,000#

$33,000T#$82,000#

$82,000#T#$170,000#

$170,000#T##$370,000#

More#than#$370,000#

I#don't#want#to#specify#

11%#

17%#

39%#

18%#

2%#1%#

12%#

The following questions were asked to current

startup and small business owners:!



Did you start a business as a result of being unemployed?!



Yes# No#

25%#

75%#

Is an MBA something you would be willing to invest in personally?!



Yes# No#

57%#

43%#

Do you feel the government is helping Startups and small businesses?!



Yes# No#

38%#

62%#

Do you use crowdfunding to support or fund other Startups?!



Yes# No#

32%#

68%#

Do you use crowdfunding to raise money for your Startup?!



Yes# No#

16%#

84%#

If you haven’t used it before, would you use crowdfunding in the future?!



Yes# No#

86%#

14%#

How does your geographic location influence your ability to start your own business?!



It#helps# It#hurts# Indifferent#

61%#

13%#

26%#

How important is it for Startups and small businesses to offer their employees healthcare?!



Very#Important# Somewhat#Important# Not#Important#

64%#

31%#

5%#

How important are resources like crowdfunding to raise money for entrepreneurs?!



Very#Important# Somewhat#Important# Not#Important#

56%#

41%#

3%#

Key Findings



97% of entrepreneurs believe crowdfunding is important for Startups and small businesses!

95% of entrepreneurs believe it is important for Startups and small businesses to offer their employees healthcare!

57% of entrepreneurs said an MBA is something that they would be willing to invest in personally!

62% of entrepreneurs believe that the government is not helping Startups and small businesses!

25% of entrepreneurs started a business as a result of being unemployed!

Buzz Marketing Group !132 Kings Highway!

East Suite 202!Haddonfield, NJ 08033!

856.433.8579!Fax: 856.520.8581!

www.buzzmg.com!

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