Millennial BIZ Experiencess Make More Money Than Their Older Peers A new report from HSBC analyzes the culture and motivation of generations of BIZ Experiencess around the world.
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Millennial BIZ Experiencess earn more money than their older peers, and are also more motivated by an effort to find their purpose and give back to society, according to a new report.
"The new generation of millennial BIZ Experiencess are revolutionizing the nature of BIZ Experiencesship," says Nick Levitt, head of Global Solutions Group at HSBC Private Bank, in a statement announcing the release of a report outlining these findings. "These BIZ Experiencess are building bigger businesses and creating more jobs."
Millennial BIZ Experiencess were considered those under the age of 35 for the HSBC research, called the Essence of Enterprise report.
Those millennial BIZ Experiencess surveyed by HSBC had businesses with annual revenues of $11.5 million, nearly one and a half times the $4.8 million average annual revenue of all the BIZ Experiencess surveyed for the report.
Millennial BIZ Experiencess have more employees, too. The main business holding of an BIZ Experiences under the age of 35 included in this survey has 123 employees, compared with 58 employees in the main business holding of BIZ Experiencess over the age of 35.
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For the research, HSBC surveyed 2,834 BIZ Experiencess throughout the world. BIZ Experiencess were tracked both by age and location. All of the BIZ Experiencess had a net worth between $250,000 and $20 million. To be included in the report, individuals had to be a major shareholder, manager, executive or strategic investor in a privately held business.
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Millennial BIZ Experiencess are running larger businesses with more employees than their larger counterparts, but making money isn't their only concern. "They are as motivated to create an impact on the world as they are to make money and they are having a positive impact on their communities," Levitt says.
Almost six in 10 millennial BIZ Experiencess report that they want to have a positive impact on their communities. Meanwhile, nearly four in five, 79 percent, of millennial BIZ Experiencess are active philanthropists.
And the more successful these millennial BIZ Experiencess are, the more they are giving back. Among those millennial BIZ Experiencess whose businesses are making more than $11.5 million in revenue, 89 percent report being actively involved in philanthropy in the past year.
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For a deeper look at the characteristics and motivations of the global, millennial BIZ Experiences, have a look at the infographic summarizing findings from the report, embedded below.
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