Young entrepreneurs: the future of practice growth
Millennial business owners own and operate over 38 percent of small businesses. In this special report from The Pacesetters, we explore the growing market of millennial business owners and what they’re looking for as they switch advisors.
Millennial business owners are different from previous generations in one key way: they’ve been online almost all of their lives. We wanted to find out how they like to interact with their advisors and what they expect.
- 34% say that business success is about making more money.
- 35% want to replace their current advisor.
- 59% would pay an advisor so they could stop record keeping.
What millennial business owners expect from their advisors
- 58% want an advisor with great attention to detail.
- 36% want an advisor who’s enjoyable to work with.
Advisors are well placed to help millennial business owners
Millennial business owners are keen to enjoy the benefits of being in business, including making more money, expanding into new markets, and being less stressed out.
However, 22% found the biggest hurdle to success is in reducing costs, providing the perfect opportunity for proactive advisors to step in and help.
Read the full report
Find out more about the rise of millennial business owners, what they expect from accountants and bookkeepers, and how you can make the most of your partnership.
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