In this “New Economy”, Starting a Business is the best option for Millennials

Getting a college degree is no longer the near guarantee of landing a secure good paying job, for many Millennials starting a business may be a better use of their education.

The after effects of the recession, an unemployment rate that has yet to reach the historical ┬árecovered U.S. economy of a 5% jobless rate and ┬álonger-term changes in the labor market, have forced many of today’s graduates to take the first decent offer they receive, which in many cases they’re overqualified for the position.

 

Since the most recent economic forecast from the Federal Reserve is that the jobless rate will stay above 5% through 2016 it would seem to me even more reason for this highly educated group of young people seriously consider starting their own business.

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And why not, the industrial age is dead, we live in the information age now the millennials aren’t old enough to not remember not having the Internet, they have totally embraced social media, smart phones, IPADS and all the technological advances as they come their way and they are more comfortable and confident using technology to help their business prosper.

So given the current changes for many of these overqualified millennials the best option may be for them to start a business.

Author: Rick Chapin

Having spent most of my adult life engaged in sales and marketing as well as a decade of preparing income tax returns for small businesses, individuals and real estate investors. Running your own business is not easy, you must utilize all the tools available to aid in your business development, I believe your personal development is equally important. I have for many years had knowledge and interest in small and medium sized businesses as it relates to allowable deductions, tax deferred exchanges and other tax treatments, I have also, for many years invested in books, tapes/cds for inspiration and motivation, so it seemed a natural fit for me to become involved in aiding in people in business development as well as their personal development.

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