Recent studies suggest that young Americans are less interested in entrepreneurship than their parents’ generation was 25 years ago. While no one really knows why, some data suggest declining risk tolerance could be part of the explanation.
Business ownership by young people has declined substantially over the past two decades. Data from the Federal Reserve’s Survey of Consumer Finances – an every three-year investigation of the financial state of U.S. households conducted on behalf of the monetary authority by the University of Chicago – shows that 10.6 percent of households headed by a person under 30 owned a private business in 1989, but only 3.6 percent of that age group had a company in 2013.
Are Younger Americans Losing Interest in Entrepreneurship?
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