Millennials who start their own businesses aremore interested in growing their influence on their localcommunities than their parents were, but many also have altruisticmotives: They want to use that influence to improve thosecommunities.

That’s according to HSBC Private Bank’s “Essence of Enterprise”report, which finds 26 percent of entrepreneurs in their 20sset 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 tomake a difference and get recognition for their impact, theyprioritize their influence and its impact on the local community,compared with older generations.

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