Yesterday’s Globe and Mail had an interesting feature entitled, “Why Gen Y prefers to patronize small businesses.” It’s the first of a three-part series at the Globe’s website outlining the effect Generation Y is having on business.
The boundaries of Generation Y are loosely defined, but it’s commonly considered to have begun in the mid ’70s and ended in the late ’90s. The Globe featured an book excerpt by author – and Generation Y member – Aiden Livingston. In the excerpt, Livingston outlines some reasons Generation Y is turning to small business rather than corporations. According to Livingston, Generation Y prefers small business because:
- They feel corporations adapt to new trends in business too slowly;
- They feel corporations are out of touch with their customers; and
- They feel corporations are stuck in the past.
At GoForth Institute, we can certainly say that the need for adaptability and newness in business is strong. Entrepreneurs told us themselves that they wanted small business education via streaming HD online learning – and that’s what we gave them!
Our advice for entrepreneurs? Take heart – you’re reading this blog, which means you have adapted to a new trend in business and are not stuck in the past! Just keep listening to what your customers want, embrace innovation and keep adapting – these are just a few of the great small business lessons Generation Y can teach us.