There has never been a better time to start your own business. In fact, in the next decade, being an entrepreneur will bring more security than being an employee. We are in the middle of a great entrepreneurial boom with the number of entrepreneurs in the United States and Canada rising slowly in the 20th century.
For example, baby boomers, age 50 and above, have started an average of 3.5 companies but with millennials that figure more than doubles at 7.7 companies. This is an incredible stat that’s only going to increase to unprecedented levels in the near future.
While running your own business may not be your dream, if you’ve ever considered it, hopefully this blog article will help you take the next step. Because there are no more cushy jobs anymore. No more pensions. I guarantee if you don’t start your own business, you’ll be left behind.
It’s great to be your own boss. You don’t have some higher power telling you what to do. Your future is in your own hands, and not at the whim of somebody else.
The internet and online shopping is becoming more popular – and isn’t even close to being at its peak yet. In the not too distant future, most purchases will be online, and shopping malls will be a thing of the past. People, especially non-entrepreneurs are going to have to move with the shifting times. Many people will lose their jobs, and forced into entrepreneurial roles.
Today, you can start your own online business for very little capital, unlike a couple of decades ago when you needed huge amounts of money to open a storefront, and to market yourself, and to hire employees. Now you just need an internet connection and you can sell to anybody and hire anybody.
Small business is growing more rapidly than ever before and it’s only going to become a bigger part of the overall economy. Conglomerate will still have their place but as soon as small business realize their power and band together, the better.
During the 2008 recession, many people were laid off or fired and as a result they became entrepreneurs. Getting downsized became a jumping off point for those who always had dreams of doing something different.
A lot of companies don’t want employees any more, especially those started by millennials. They don’t have to pay benefits. They don’t have to worry about slow markets. It has gotten a lot easier to just hire consultants and freelancers. Just look online where jobs and job sites are in abundance. Hiring a freelancer is only a click away. And why wouldn’t companies do that instead of invest in training and managing them?
Businesses are also being coming more automated than ever before. For example, you can order your Starbucks beverage through your mobile phone and pick it up at the counter, eliminating the need for cashiers. Low skilled jobs are you getting get fewer and fewer as it is becoming easier to automate more systems.
And soon robots and computer programs will be taking over for people. Robots don’t need lunch breaks or vacations and they don’t need feeding. They won’t quit and moved to another job that is higher paid self-driving cars will soon eliminate the need for drivers.
Young people are seeing the necessity of being a small business owner in this rapidly changing world’s. Hopefully else will see it as well.