Gen Y Entrepreneurs

This Huffington Post article (which quotes me toward the end) recently offered a new explanation as to why, as our nation recovers from the recession, more men than women are going back to work.  This is especially interesting, since historically, women have fared better in past economic recoveries.

The article points out that more women are opting to start their own businesses. MyCorporation.com saw a 27% increase of female owned businesses. Since one fourth of these new business owners were downsized out of their previous job, it appears that many women are using the recession as an opportunity.

Many of these are Gen X women, who in general are ambitious and driven while also striving to create a balance between work and family. Many of these women find that owning their own business allows them the flexibility to be with their families and the satisfaction to do what they love.

In my work I’ve seen Gen Y females skip this step. The Internet makes start up costs much lower and in this tough economy, many members of this generation are opting to start their own businesses right out of college.  Considering that most Gen Y grew up with working mothers and entrepreneurial role models such as Steve Jobs and Oprah, it is no surprise that they are taking the business world by storm.