The Drive behind the Rise Of Generation Y

The Drive behind the Rise Of Generation Y

Excerpts from ‘iBosses: The Rise of Gen y Entrepreneurs – The Momentum Behind the New Age of Entrepreneurs’

In contrast, Generation Y (also known as the Millenials, Net Generation, or Echo Boomers) have different characteristics in the business world, which further replaced the Retiring Baby Boomers (Mаnnіng, 2004). For Gen Y-ers, the most important aspect of their generation was the development of the Internet and technology (Joshi, Dencker, Gentz, & Martocchio, 2010).

相反,Y世代 (又名千禧世代、网络世代或回声潮世代)营商时却展现不同的特质,更取代快将退休的婴儿潮世代(Mаnnіng,2004年)。对Y世代而言,互联网和技术发展是其世代最重要的一环(Joshi、Dencker、Gentz & Martocchio,2010年)。

Experts indicate that Gen Y-ers value lifestlye, travel, and career development. They want personal flexiblity as well as professional satisfaction. In addition, they thrive on innovation and new challenges. Generation Y members are also interested in entering entrepreneurship. However, Gen Y entrepreneurs are unlike Generation X entrepreneurs in some ways. Gen Y entrepreneurs are usually more aggressive and like to take risks. There are two reasons for this. First, the capital for their businesses is usually from their parents, who are Gen X entrepreneurs, and their parents supported their decision to go into business (Martin, 2005; Reuters, 2010). Second, Gen Y entrepreneurs usually enter business immediately following college graduation. Gen Y, therefore, has fewer responsibilites such as mortgages to pay or families to support. In other words, they have nothing to lose, as their capital was from their parents. Gen Y entrepreneurs also do not have much experience as they are still fresh out of college, which might lead them to take bigger business risks. As such, one can see that there are obvious differences between Generation X members and Generation Y members. The two generations have similarities and differences when it comes to their general intent to initiate an entrepreneurial venture.


Gen Y entrepreneurs usually start with what is known as start-up companies, such as Facebook. It was during their generation that there was so much technological advancement impacting the business world. Entrepreneurial activities are not usually deemed as highly respectable ventures, because they are often considered an option for individuals who did not perform well within organizations (Hormozi, 2004). However, this has changed, especially for Generation Y members. In a 2009 survey conducted by the National University of Singapore (NUS) Entrepreneurship Centre, 18% of tertiary students wanted to become entrepreneurs after graduation (Kwok, 2009).

Y世代创业家通常从创新企业开始,Facebook便是一例。Y世代的技术发展日新月异,对商界影响深远。过往大众普遍认为在企业里没有成就的人才会创业,因而创业家并不受尊重(Hormozi,2004年),但这个观念已经改变,Y 世代的想法尤其不同。新加坡国立大学创业中心于2009年进行的调查显示,18%的大学生希望在毕业后创业(Kwok,2009年)。

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