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The face of small business will dramatically change as seasoned baby boomers,
kids fresh out of high school, mid-career women, "mompreneurs," and new
immigrants come together to create the most diverse pool of entrepreneurs ever.
Those are among the key findings of the Intuit Future of Small Business Report™,
a unique study that looks forward 10 years and examines the prospects,
influences and profiles of small business.
The first installment of the study, sponsored by Intuit Inc., and authored by
the Institute for the Future, was released last week. It focuses on new
entrepreneurs who break the mold, the coming proliferation of personal
businesses and the emergence of entrepreneurship education.
The first installment concludes that the newest entrepreneurs will be far
more diverse than their predecessors in age, origin and gender. By 2017, the
white, middle-aged men who traditionally launch small businesses will be
outnumbered by Generation Yers — those born after 1982 — women, immigrants and
"un-retiring" baby boomers opting for entrepreneurship as a second career.
The report identifies three major trends: the changing face of small
business, the rise of personal business and the emergence of entrepreneurial
education.
"The next decade will see small and personal businesses become increasingly
important sources of employment, economic growth and innovation," said Steve
King, senior advisor at the Institute for the Future and study co-author.
"Leading small and personal businesses will be a diverse group of Americans,
including young adults — even teens, women, immigrants and aging baby boomers."
The study represents the first time that a wide set of business and
demographic trends have been consolidated. | 
