With young adult unemployment at 15.8 percent, the highest ever, more 18- to 29-year-olds are starting their own business, according to the Tennessean.
The business ideas from members in this age group typically address social, economic or environmental issues. They often set up each business so it centers on an issue and supports the cause, according to the article.
"It's just a new perspective on business," said Chris Cole, a 23-year-old creative director for Nashville-based Triple Thread Apparel, to The Tennessean. "We're looking to create a profitable venture but also accomplish a purpose." The company employs residents of Dismas House, which helps former prisoners to ease back into society, with proceeds returning to the facility.
"Today's students, they want to do more of their own thing," said Germain Boer, director of Owen Entrepreneurship Center at Nashville's Vanderbilt University, to the Tennessean. "But the economy has played a role too. They know that working for a fortune 500 company isn't a guarantee (of job stability) anymore. "
- Photos: Deseret Book winter display yields...
- Utah business leaders say Congress must solve...
- Why 'Shark Tank' investor Barbara Corcoran...
- Obama immigration plan good, not great for...
- A GDP showdown: How do state GDP numbers line...
- Are Millennials savers? Conflicting studies...
- Utah unemployment rate at 3.6 percent
- The unstoppable powerhouse of Disney's Frozen
- Utah business leaders say Congress must... 47
- Robots will replace 50% of today's... 13
- White House: Immigration steps would... 7
- Imbibing in Utah grows with population,... 7
- What's next for dead malls? 5
- Looming chocolate drought may leave... 5
- Ford's new F-150 to get 26 mpg, tops... 4
- Minivans do poorly in new crash tests 2