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5 Gen-Y corporate refugees

Striking out on their own

Maybe they don’t see much room for promotion where they are, maybe it’s because they are sick of corporate politics, or maybe they just can’t stand their boss. Whatever the reason, many members of Generation-Y are looking to quit their full-time jobs and start out on their own.

Fifty-four percent of the nation’s millennials either want to start a business or already have started one, according to a study published last year by the Kauffman Foundation. And, according to a survey by Employers Insurance, 46% of Gen-Y wants to start a business in the next five years, while 35% of Gen-X and only 21% of baby boomers do.

The younger set is gaining experience and contacts at major firms and then using that to take a leap into entrepreneurship. Corporations, on the other hand, are starting to embrace entrepreneurship in a big way. A recent study by my company, Millennial Branding, shows that nearly one third of employers are looking for entrepreneurship experience when hiring recent college graduates. In fact, some companies would rather hire an unsuccessful entrepreneur than a student with multiple internships on his resume.

Here are five millennials who decided to break free from Corporate America and launch their own businesses.

About the author: Dan Schawbel is the managing partner of Millennial Branding, a Gen Y research-and-management-consulting firm. Subscribe to his updates at facebook.com/danschawbel.


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