Millenials Matter
< < Go Back
What to Know: More and more Millennials—young people who came of age around the year 2000—think of themselves as entrepreneurs, but they face difficulties that prevent that perception from being the norm.
“Millennials think of themselves as the innovation generation but, for all our creativity, we have not quite crossed the divide into the success generation,” Entrepreneur magazine reports. “At least, not in large scale business. At first, it would seem that individuals like Evan Spiegel at Snapchat and Alexis Ohanian at Reddit are proof of our ambition and startup spirit. However, when you take a closer look, you realize Spiegel and Ohanian are the exception rather than the norm. Research conducted at the Pew Research Center indicates that millennials are actually not very entrepreneurial and fail often.”
The TPPF Take: Texas can do much to encourage entrepreneurship, particularly among Millennials. One thing would be to eliminate the business margins tax.
“Even businesses that don’t pay the tax must pay in time and money to comply with its requirements,” says TPPF’s Vance Ginn. “Eliminating the inefficient and burdensome margins tax would allow Texas entrepreneurs to choose how to spend more of their own money—and their time.”
Regulatory measures (such as city ordinances that subject lemonade stands to health department inspection) shouldn’t be used to discourage entrepreneurship.
More From TPPF: