Millennials who start their own businesses are more interested in growing their influence on their local communities than their parents were, but many also have altruistic motives: They want to use that influence to improve those communities.
That’s according to HSBC Private Bank’s “Essence of Enterprise” report, which finds 26 percent of entrepreneurs in their 20s set up their business with a view to making a name for themselves, compared with 17 percent of over-50s.
While 1 out of 4 millennial entrepreneurs sets up a business to make a difference and get recognition for their impact, they prioritize their influence and its impact on the local community, compared with older generations.
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