“This year, the 2016 BNP Paribas Global Entrepreneur Report reveals the emergence of a new generation of entrepreneurs under 35 years old. Dubbed the ‘Millennipreneurs’, these are business starters from ‘Generation Y’, born between 1980 and 1995, also known as Millennials. Their approach to business, in terms of their ambitions, results and leadership style, differs from that of other generations. “They create more companies, with larger headcounts and higher target profits. They certainly tend to be interested in the new economy, but are also equally active in many traditional sectors including Retail and Professional services such as law and accounting,” said BNP Paribas Wealth Management Co-CEO Vincent Lecomte, “At BNP Paribas Wealth Management we’re determined to use our powerful international reach to meet the needs of this clientele, especially as regards Private Equity and Socially Responsible Investment.” The report is based on one of the largest international surveys every carried out by Scorpio Partnership, polling almost 2,600 multimillionaire entrepreneurs in 18 countries, to provide a unique portrait of this new generation of under 35 ‘millennipreneurs’:
- Each of whom has already started on average 7.7 companies, versus 3.5 among the elder ‘Baby Boomer’ generation.
- On average the annual turnover of businesses run by millennials outperform by 43% those by baby boomers.
- 78% of successful Millennipreneurs have a family history in business.
- Women Millennipreneurs expect a profit margin of close to 35% for 2015.”