The Rise of the Entrepeneur

By: Ian O.

       Building your own business is seen as a main goal for many people, but also seen as something that won't yield much or will be a waste of time. In actuality entrepreneurship, or creating your own business, has seen a huge rise with the Millennial generation and has found great success. These new age entrepreneurs are taking advantage of multiple factors and are competing with the long standing organizations of the past. Why is this working for them though? s

       As an article that can be found here explain, two key factors can attribute to the rise in their success, the first being the access to large amounts of information. With the wonders of the internet and higher education being more prominent each year, more and more people have access to information that can be used to build up a business plan such as how to market to certain audiences properly or how to manage finances effectively. This allows young entrepreneurs to have information equal to that of the big businesses that they are competing against, making it relatively level in terms of knowledge. What tips the scale for some entrepreneurs is the second factor, which is the changing technology. With the world of business changing a lot in the last decade, many large businesses are struggling to adapt quick enough to all of the changes in technology and process. This is due to their complex systems that make it hard to integrate new technology and new ideas through the system. The entrepreneur doesn't have this issue however, for they are a single entity or at least simple system. Millennials especially benefit from this for they have been raised with all of these technological advances, and are much more adapt to these changes then previous generations.

       Entrepreneurship is a huge risk that many ambition people take, but recently it has been extremely rewarding. This is allowing for new companies to go to the forefront and overtake these longstanding companies. Just look at the likes of Google, which isn't even 20 years old yet is already revolutionizing the industry, or Uber, the recent phenomenon that could completely wipe out taxi services. It is an age of new business, and even though the risks are high for entrepreneurs, the pay off is that much higher

Sources:
Article For Reference:

 Wade, Sophie. "Behind the Rise of Entrepreneurship." Fortune Behind the Rise of Entrepreneurship Comments. 12 June 2014. Web. 10 Apr. 2016. 

Picture:

 Zuckerberg, Randi. Think Like an Entreprenuer. Digital image. Http://dotcomplicated.co/. 10 June 2015. Web. 10 Apr. 2016.