7/31/2008
Among women entrepreneurs, baby boomers and their Generation X counterparts have different goals for their companies, according to a survey of 1,127 participants in the Make Mine a Million $ Business program.
Among baby boomers, 52 percent want their enterprise to have an impact on their community (21 percent) or the world (31 percent).
Conversely, 55 percent of Gen X entrepreneurs seek an impact closer to home: Twelve percent want to grow their business primarily for its effect on them; 38 percent want growth for its impact on their families and 5 percent want growth to affect employees or shareholders.
The purpose of the Make Mine a Million $ Business survey is to explore attitudes on business and personal issues and uncover data on the changing dynamic of running a successful business during the various stages of motherhood.
Here are some of the most noteworthy findings:
• Gen Xers are more likely to say they were exposed to entrepreneurial influences during childhood.
• Gen Xers are more likely to describe themselves in competitive terms.
• Gen Xers are far more likely to have preschool children and to be experiencing stress related to work-life balance issues.
• By and large, Gen Xers have been in business a shorter period of time than their baby boomer counterparts: 54 percent have been in business fewer than three years, compared with 46 percent of boomers. Among boomers, 30 percent have owned their business for more than five years, compared with 18 percent of Gen Xers.
• Thirty-three percent of Gen X-owned firms have surpassed the $100,000 revenue threshold, compared with 36 percent among boomer-owned enterprises. Since Gen Xers have been in business fewer years than boomers, this indicates that the younger entrepreneurs are growing their businesses more quickly.
Posted by Eve Gumpel 7/31/2008