Inc.:
Younger entrepreneurs are more willing to take risks in the marketplace than older business owners, according to a recent survey by OPEN from American Express.
The survey, which gauged business attitudes among more than 600 Generation Y and baby boomer entrepreneurs, found that 72 percent of younger business people said they enjoyed taking risks, compared to just 53 percent of baby boomers.
Generation Y entrepreneurs — those between 18-29 years old — were also twice as likely to be serial entrepreneurs who had owned or planned to own more than one business, the survey found. Most said they believed as business owners they took far greater risks than others.
Photo by MSDesign.
Mike @ PartnerUp on May 7th, 2007 at 1:46 pm
This makes a lot of sense. I think that the closer an entrepreneur gets towards retirement, the more averse they tend to be towards taking a big risk with money that they need to retire.
It’s interesting though that entrepreneurship continues to rise among baby boomers nearing retirement. So, that tells me that they seem to be starting more businesses, just less risky ones. Either that, or they’ve learned a lot over their years in business and have the contacts, partners and experience to launch ventures with less risk than other entrepreneurs.