Why Millennials Are Not Entrepreneurs

[Ragnarök_62]

(06-21-2016, 01:52 PM)selfevident1 Wrote:

[b Wrote:selfevident1][/b]
So...I'm not sure the point you wish to make with that graph. I think you mean to say that Millennials may not be pursuing entrepreneurial opportunities because of the skyrocketing price of college tuition. If that is your reasoning, I have two points about that. Please correct me if I misinterpreted your point.

1. College is turning Millies into debt slaves.
2. That has a whole bunch of consequences.
a. It's delaying any of the usual milestones of young adulthood like marriage, house purchase/ rental, leaving the nest, and as far as business formation, debt gets in the way of getting a business loan.

Quote:1. You don't really need post high school education to start your own business. In fact, some of the most successful businesses out their were started by individuals who were not able to attend school for one reason or other.

That was not implied. Classic'Xer has just a high school education, I think. He correct me if I've messed it up. However, he also didn't make himself a debt serf.

Quote:2. A quick internet search of "millennials college enrollment" produces thousands of search results that indicate that more Millennials attend/have attended college than any other generation in history. Refer here as one example.

I wouldn't dispute that all. It also confirms my idea of college degrees now in general. Since there's an over supply of college degrees, the price goes down accordingly. That's just simple econ 101. The fact of the matter now, is a college degree is a lousy investment, period. It's overpriced and underpaid.

{See follow up for details}


So, I don't think lack of schooling is the reason why they may not pursue entrepreneurial opportunities.

It's sort of the opposite. Debt is one factor that gets in the way. The other factors are Gordian Knot regulations where small businesses have no chance. There's also a slew of tax fuckups like Worker's Comp, payroll taxes, perhaps healthcare.   I know I'd never start a business due to that stuff.