When it comes to preparing for the future, millennial small-business owners are seemingly the most concerned generation in recent history, new research shows.
So reports Nationwide in a new Small Business Indicator study, which the insurer conducted online June 10-23, 2016. Respondents comprised 502 U.S. small-business owners of companies with fewer than 300 employees, among them 190 millennials (ages 18-35), 152 Gen Xers (ages 36-50) and 106 baby boomers (ages 51-65).
The report reveals that millennials are more likely than Gen Xers or baby boomers to have plans for natural disasters, retirement benefits, cyberattacks and business succession.
“Our survey challenges some common perceptions of millennials,” said Mark Berven, president of Nationwide Property & Casualty. “By far, these individuals are the most prepared — and concerned — generation of business owners in recent history.”
For the second year in a row, Nationwide’s annual Small Business Indicator focused on 4 key topics impacting business operations:
cybersecurity; and (new to the 2016 survey)
But the generational data had some of the most significant differences in percentages among small-business owners: