160741 Resource 149173 155860 149257 1173116951391 1173285962694 Controlled Business News: New Study Shows Profile of Small Business Owners Changing Dramatically

Immigrants make up fastest-growing segments of small business owners in the United States

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. 10 application/xml false business news profile of small business profile of small business owners small business owners Mozilla/4.0 (compatible; MSIE 7.0; Windows NT 5.1; .NET CLR 2.0.50727; .NET CLR 3.0.04506.30; .NET CLR 1.1.4322) 127.0.0.1 127.0.0.1 cmalmstrom false true false false true 189572 false false true false false false true 149173 blog blogsite/FreedomVoice/web