Entrepreneurs Are the Cool Kids on Campus

Anecdotally, Inc.com has released its annual report on this fresh-faced group of business owners since 2009 and this was the first year that we had over 200 nominations. In the past, we were lucky to get a few dozen. This speaks volumes to the gains this group has made in just one year. However, in the scheme of things, although young entrepreneurs are increasing as a group, the numbers are still quite low, says Michael Simmons, co-founder and CEO at Extreme Entrepreneurship Education Corp.

The Global Entrepreneurship Monitor, which actually tracks early-stage entrepreneurial activity found that in 2010 about 5.5 percent of Americans ages 18 to 24 were actually helming an early-stage start-up (compared with 11 percent of 25 to 34 year olds, which is the most entrepreneurial cohort)—while Census data showed that in 2007, only 2.2 percent of business owners were under 25 years old. A survey by the Kauffman Foundation also found that the desire to start a business over other careers has risen for young adults ages 18 to 21 from 19 percent in 2007 to 25 percent in 2010.

One can ask when this surge in entrepreneurship at earlier stages in life and the growth in the entrepreneurial spirits amongst college students began, but it is hard to pinpoint the trigger as numerous factors have contributed to the shift. 

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