Like a true millennial, I spend some of my free time browsing through Netflix. I found the documentary “Generation Startup” and could not resist learning about people my age becoming entrepreneurs. I followed the stories of five millennials who worked for startups in Detroit and learned how to operate a business hands on.
Entrepreneurship is essential for economic growth—it is the catalyst that provides a community upward mobility. In the documentary, Pamela Lewis from the New Economy Initiative added that, “Entrepreneurship is the quickest way to job creation.”
According to a Global Entrepreneur Report, “Millennials are starting businesses at younger ages than their counterparts in previous generations.” I believe millennials are entering the workforce with the stars aligned: they are young, our economy is thriving, and small business deregulation is one the top initiatives on Trump’s to-do list.
Despite this, starting your own business is never easy. The risk prevents many from taking that leap of faith. With trust in the free markets, creative destruction should leave behind a community of small businesses that benefit the consumers and the economy.
Dave Meltzer is a professional speaker who covers entrepreneurs and argues that starting small businesses is the true way to ‘Make America Great Again.’ He describes entrepreneurs as, “The people that have the situational knowledge or are in the position they want to be in. In order to succeed, we must create good and effective habits. This is the combination of not only desire but skills and knowledge.”
I would recommend watching Generation Startup. Some of the participants succeeded, some did not—but they all had the entrepreneurial spirit America was founded on. Millennials can help bring our economy to the next level by bringing back the risk of entrepreneurship.