Abstract
This literature based research explores the paradox of why the most educated generation in history, the Millennials, are creating fewer businesses than any previous generation. Several factors have led to the decline of new business creation among this age cohort. Research suggests that graduates are likely to work for established companies versus creating their own due to student debt burdens. The Millennial generation has flocked to higher education due to economic uncertainty and risk avoidance. One explanation of their economic conservatism is a psychological response to experiencing the Great Global Recession. Millennials pursue stability and exhibit low risk behavior in the labor market. A second explanation is market concentration and crony capitalism related to both government policy and market consolidation within industries. Policies that favor big businesses create difficult barriers to entry for entrepreneurs. Existing government policies favor larger firms and result in a competitive disadvantage for startups and small businesses.
How to Cite
Khalife, S. M., (2017) “Investigating the Dearth in New Venture Creation among Millennials”, Capstone, The UNC Asheville Journal of Undergraduate Scholarship 30(2).
2
Views
1
Downloads