The Changing Face of Entrepreneurship

The Intuit Future of Small Business Report authored by the Institute for the Future has come up with an interesting study on the changing faces of entrepreneurship. According to the study, gone are the stereotypes of long ago when people associate entrepreneurship with middle of the age folks.

The study sees three trends affecting small business formation in the coming future:

1. Entrepreneurs will become more diverse in terms of age, origin and gender:

– those nearing retirement (and looking for a way to sustain income, pursue their interests, or just keep busy and involved) as well as those who are entering the workforce will become the most entrepreneurial ever.
– women limited by their corporate career path will choose to go to entrepreneurship
– immigrant entrepreneurs will drive a new wave of globalization

2. One person businesses with no employees (or personal business) will rise with the growth of the number of freelancers, contract business, social entrepreneurs and accidental entrpreneurs

3. Rapid growth of university-level entrepreneurial training

You can read the full study at Intuit