America’s SBDC survey spotlights needs, challenges, to success
CHARLESTON, W.Va. — The results of a national survey by America’s SBDC have been released by the West Virginia Small Business Development Center.
“The survey highlights key aspirations and obstacles facing American entrepreneurs across the generations,” said WVSBDC Director Erika Bailey. “The survey also focused on access to capital and knowing where to find support services. The West Virginia Small Business Development Center has the expertise and experience to help.”
America’s SBDC studied different generations’ views of entrepreneurship. The research looked at millennials (born between 1977 and 1995), Generation Xers (born between 1965 and 1976) and Baby Boomers (born between 1946 and 1964). The organization also wanted to find out how familiar millennials are with available resources in general and SBDCs in particular.
The research findings are available online at www.AmericasSBDC.org/SBDCGenStudy.
Highlights of the findings include:
- Nearly half (49 percent) of all millennials would like to start their own businesses in the next three years.
- A third of Americans have worked in small businesses in the past
- Nearly 24 percent of both millennials and Generation X own or have owned small businesses.
- Across all generations, Americans cite access to money as the most important resource to starting a business.
- Most millennials — 83 percent — don’t know where to go for help.
“I have the opportunity of working with clients of all ages,” said WVSBDC Business Coach Susie Higgins. “Based on my experience, the millennials and Generation X are the groups that most want to work for themselves. They want to have control over their own talents and skills.”
The WVSBDC is part of the West Virginia Development Office and creates economic impact by offering cost-effective business coaching and technical assistance to entrepreneurs and small businesses. The WVSBDC is funded in part through a cooperative agreement with the U.S. Small Business Administration and is an Accredited Member of America’s SBDC network. For more information, visit www.wvsbdc.com
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