Manta Surveys MillennialsCompared to a year ago, small businesses are seeing more customers and doing more hiring, according to a recent Manta survey of 1,000 of its small-business-owner community members. Among them, “Millennial” generation business owners report that they are doing best of all, “demonstrating they’re a new driving force behind the small business community,” says Manta CEO John Swanciger.
The first half of 2014 was a success for 68 percent of all survey respondents—up 12 percent since the same period a year ago. But 76 percent of Millennials reported a successful first half of the year. And while more than 80 percent of all respondents said they are optimistic about business prospects for the second half of the year, 90 percent of Millennials expressed optimism.
To be sure, Manta's survey questions left the definition of "success" up to respondents. Whether Millennials measure business success by a different barometer than their senior peers do is unclear.
On one measure of success, at least, positives aren't so subjective, however: Hiring. While most business owners are still cautious about adding headcount, 30 percent of Manta's survey respondents overall say they made hires during the first half of 2014—up 10 percent from last year—and 35 percent plan to make new hires during the remainder of the year. But Millennial-owned companies did even better: 44 percent of the young entrepreneurs surveyed have already made hires in 2014, and 52 percent of them expect to hire during the next six months.
“It’s no longer assumed that recent graduates will enter the traditional workforce,” says Manta's Swanciger. “Companies will have to adjust as Millennials become a bigger force in the small business space.”