National Brokers Network

Millennials Are the Fastest Growing Small Business Owners

Millennials are making a statement. They are changing the small business landscape for the better. Perhaps, now is a good time for their older counterparts to listen to the voice of the younger generation. These young ones, after all, are setting examples worth emulating across all generations.

Rachel Powell, Xero’s Chief Customer Officer noted that millennials are breaking stereotypes, as mentioned in the article published in Inside Small Business. This generation, in particular, is leading the way as they are getting close to being Australia’s small business economy’s biggest contributors.


Not a Trace of Laziness

A report published by Xero showed business operators in Australia from this generation are quickly rising in numbers. The report also emphasised that compared to the older generation, millennial owners are more ambitious when it comes to their business’ growth.

In reference to the Small Business Growth Index report by Capital One, the more optimistic and innovative millennial business owners are more inclined to provide attractive perks to their workforce. This observation was echoed in another report, this time from the Business Insider. Millennial business owners, for instance, offer food, games, and paid time off among others. They invest in perks that make their office a great place to work. They are aware that securing a competitive edge means differentiating themselves from the culture inspired by the older generation.


Young Changemakers

Millennials may simply have an inherent advantage over those who came before them. Their generation, after all, can be best described as digital natives. Such characteristic makes it almost natural for them to embrace quick and continuous change in the way they work and live. It is not surprising to see how fast they are revolutionising the small business landscape.


Wisdom from the Young

The future of the small business industry seems exciting with millennials at the forefront. Hopefully, their great examples can inspire positive change in each of us, young or old. We are used to looking up to the older ones for wisdom. This time, let us acknowledge that we can learn from the young ones too. They are showing us how we can do things differently, but still achieve similarly outstanding results.

Learn a thing or two from the millennials to make your business attractive to present and future employees as well as potential investors. For more informative articles related to the topic, refer to the website of the National Brokers Network. If you want an expert assessment of your business’ value, contact the team through any of the following means: phone: 03 9226 9222, fax: 03 9078 6315 or email:

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