millennials

86% of Small Business Owners Say “Future Growth Relies on Millennials”

86% of Small Business Owners Say “Future Growth Relies on Millennials”

UK small and medium enterprises are reliant on millennials-those born between 1980 and 2000-to ensure the future success of their business, according to new research by Lloyds Bank. The survey, which questioned 400 small firms with turnover of between £1m and £25m, found that 86% of business owners were dependent on recruiting millennial talent and the research indicated that small businesses are, on average, spending 15% of their annual revenue to recruit millennials. More than three quarters of the business owners surveyed said they feel under pressure to sell themselves to millennials and a third admitted that they have worried a young candidate has turned down a job offer because they didn’t like their business culture. 25% of business owners even said that they wanted a millenni... »