FutureWire - futurism and emerging technology

Wednesday, August 24, 2005

Young Entrepreneurs Strike Out on Their Own

The Herman Trend Alert, which has been warning for months of a pending labor shortage, says that young Millennials (those born after 1985) are increasingly more likely to start their own businesses than seek more traditional employment. The result: those individuals who are most desirable as employees (ambitious, curious, creative, hard-working) are less available to hiring managers.

Herman notes the irony in that many companies, unable to hire the individuals they want and need, will ultimately outsource work to companies run by these young entrepreneurs.

This may be an especially good time for young people with creative ideas to start their own businesses. Red Herring reports that venture capital funding is up dramatically in both the US and Europe, signifying a high level of confidence in innovative businesses as well as the overall business climate.