Sunday, May 22, 2022
Hawai'i Free Press

Current Articles | Archives

Tuesday, October 15, 2019
Hawaii: Lowest Percentage of Young Business Owners
By News Release @ 3:38 AM :: 2683 Views :: Hawaii Statistics, Small Business

Which Generation Has the Most Business Owners?

Business Owner Age Trends By State

From WorkWise, Aug 20, 2019

At WorkWise, we are constantly in awe of the business owners we work with. It’s inspiring to know that people of all backgrounds, ages, races, and genders have built their dreams into businesses. As we work with these business owners, we’ve noticed that generational divides have a lot to do with how our clients think and run their businesses. We began to wonder what generation has the most business owners and where these business owners tend to be located. So we did some research.

We examined US census data that records the age of current business owners who have businesses with at least one employee. Based on the data, these are the results!

Overwhelmingly, Baby Boomers are still the most common generation of business owners. Only 4 states, Utah, North Dakota, Idaho, and Nevada, have a higher percentage of Gen X business owners Meanwhile, Millennials make up a very small percentage of business owners in each state. This is probably to be expected since Millennials are around 35 or under, and according to this study, most entrepreneurs launch their first startup at age 40, and high-growth startups tend to be launched by 45-year-olds. 

Of course, some people tend to be ahead of the curve. The youngest business owners tend to be located in the states listed in the above graphic. California takes the cake with well over 3,000 business owners under 25.

If you’re an entrepreneur aged 35 or under and wondering where you’re most likely to find other Millennial business owners, California is the place to be! California has by far the most Millennial business owners. New York and Texas, having nearly identical totals, come in at second and third place, while Florida comes in fourth, the last state to have a number above 20,000 for Millennial-owned businesses. 

Of course, since California and Texas are such large states, it makes sense that they top the list for a count of Millennial-owned business. To take population counts out of the equation, we looked at the percentage of businesses owned by Millennials, and the results were quite different. North Dakota topped the list for Millennial-owned businesses with nearly 10% of businesses owned by people aged 35 and under. Meanwhile, Hawaii had the lowest percentage of Millennial-owned businesses at just 3.65%! In fact, all of the states within the bottom ten have less than 5% of their businesses owned by a Millennial.

Our goal at WorkWise has always been to support business owners, both aspiring and current, with the best possible service and expertise. We admire those who go after their entrepreneurial dreams and succeed in establishing a business that represents years of work. If you’re looking for customer relationship management services to help your business continue to grow, contact us here. Our team would love to help!

read … Full Report

Coverage:

FC: The states with the oldest and youngest business owners

HNN Analysis: Hawaii has nation’s lowest rate of Millennial-owned businesses

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

808 Silent Majority

ACA Signups Hawaii

Alliance Defending Freedom

Aloha Pregnancy Care Center

American Council of Trustees and Alumni

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Astronomy Hawaii

Back da Blue Hawaii

Ballotpedia Hawaii

Better Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

ChinaTownWatch.com

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii Coalition Against Legalized Gambling

Hawaii ConCon Info

Hawaii Credit Union Watch

Hawaii Crop Improvement Association

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Advocates

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federalist Society

Hawaii Federation of Republican Women

Hawaii Future Project

Hawaii Gathering of Eagles

Hawaii History Blog

Hawaii Homeschool Association

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Life Alliance

Hawaii March for Life

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Smokers Alliance

Hawaii State Data Lab

Hawaii Together

HIEC.Coop

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

Investigative Project on Terrorism

July 4 in Hawaii

Kakaako Cares

Keep Hawaii's Heroes

Land and Power in Hawaii

Legislative Committee Analysis Tool

Lessons in Firearm Education

Lingle Years

Malulani Foundation

Managed Care Matters -- Hawaii

Malama Pregnancy Center of Maui

Mauna Kea Recreational Users Group

MentalIllnessPolicy.org

Military Home Educators' Network Oahu

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Christian Foundation Hawaii

National Parents Org Hawaii

NFIB Hawaii News

No GMO Means No Aloha

Not Dead Yet, Hawaii

NRA-ILA Hawaii

Oahu Alternative Transport

Obookiah

OHA Lies

Opt Out Today

OurFutureHawaii.com

Patients Rights Council Hawaii

PEACE Hawaii

People vs Machine

Pritchett Cartoons

Pro-GMO Hawaii

P.U.E.O.

RailRipoff.com

Rental by Owner Awareness Assn

ReRoute the Rail

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

Robotics Organizing Committee

Save Dillingham Airfield

School Choice in Hawaii

SenatorFong.com

Sink the Jones Act

Statehood for Guam

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

UCC Truths

US Tax Foundation Hawaii Info

VAREP Honolulu

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii

Yes2TMT