The Staggering Rise of Entrepreneurship

In the last couple of years, we have witnessed an explosive rise of entrepreneurs emerging on a global scale. In fact, according to a report by the Kauffman Index of Startup Activity, it was revealed that about 550,000 Americans establish new businesses every single month.

Millennials are one of the most intrigued individuals of them all who have set their aim on becoming entrepreneurs- and why wouldn't they? The benefits that result in the process are just too good to miss out on.

A prime example of a successful entrepreneur that people look up to is Edward Parrish Whitaker IV. Graduating from Ferrum College with honors, including a double major in business, Whitaker was determined to thrive on his entrepreneurial spirit to achieve skyrocketing success in the business world.

He was initially hired as a broker by Morgan Stanley and was in charge of managing $286, which consequently led him to become one of the youngest winners of the National Sales Director Award for his phenomenal business skills. However, after only five years on Wall Street, he decided to pursue the real estate business, where he went on and found a mortgage company, a real estate company, and so many more within a mere period of a few years.

His story has motivated many young business college students to follow in his footsteps as they utilize his business procedures to improve their own business framework to achieve entrepreneurship success.

Aside from being inspired by people like Edward Parrish Whitaker IV, there are also several other reasons why entrepreneurship has witnessed so much popularity among the worldwide population.

Easy Accessibility of Entrepreneurship Requirements

According to Debi Kleiman, executive director of Arthur M. Blank Center for Entrepreneurship at Babson College, "There's an increase in people who want to become entrepreneurs because the startup environment in the US has changed." she says, "They see opportunity, problems to solve and are finding ways to make something happen."

To create solutions within the professional sectors, accessibility to pursue an entrepreneurship career has been made easy.

Technological Comfort

Technological advancements, such as affordable business tools, are continuing to create opportunities to help millennials connect with the world.

Reports conducted by GoDaddy have found that 50% of millennials have agreed to the fact that growing up with the internet has increased their work efficiency and understanding of how professionals company conduct their business.

Increasing Supportive Communities

Furthermore, there has also been a rise in supportive communities that are binding together passionate individuals to fulfill their desires to become founders.

These communities are holding up events to educate aspiring business owners, providing them with key source business information and opening up doors to potential investors who are willing to contribute to the establishment of diverse businesses.

Availability of Workspaces

It was initially challenging to find a workplace for starting up a business because of high expenses that couldn't be met- but that issue has finally been resolved.

Many co-working facilities allow young individuals to apply for a membership to gain access to a working space. They offer almost anything you would need to get your business up and running- a desk, fast internet, and business equipment such as copiers, printers, and fax machines, to name a few.

An additional underlying benefit that comes out of these co-working facilities is that you can mingle with other business owners and grow your network connection, which is one of the core essentials of ensuring future collaborations for your business's success.