New research indicates that more millennials are leaving the traditional 9-to-5 job in hopes of starting their own business.
Young people have President Trump’s tax cuts to thank, as they are helping grow the American economy at levels not seen in decades.
According to recent analysis by MetLife insurance, four in 10 millennials are planning to quit their current jobs within the next five years and seek out work as a freelancer in the labor market. According to one millennial entrepreneur, the idea of starting one’s own business and being your own boss is a major priority among young entrepreneurs
“Starting my own business has always been my ultimate dream,” said Carl DiMestico, who founded an Instagram influencer platform. “I wanted to be my own boss and do something I truly loved and enjoyed.”
While a booming economy is proving to be increasingly advantageous to millennials looking to start their own business, it’s just one of the many economic benefits millennials are reaping from the business-friendly policies of the Trump administration.
In addition to passing the largest pro-growth tax cuts in decades, the Trump administration has also touted a desire to millennials by rolling back burdensome regulations that stifles innovation in the job market.
During a recent millennial forum at the White House last March, Labor Secretary Alexander Acosta noted how some cities were trying to regulate the popular dog walking app Rover, which allows individuals to earn money by walking other people’s dogs for them.
“Dog walking was safe pretty much for centuries,” said Acosta, noting that when the Rover hit the market, it completely transformed the business model for dog walking. He then noted that a number of cities decided to regulate the app and require licensing, thus making it harder for individual to earn money with the app.
“Why are they doing this?” he asked rhetorically.
Regardless of whether or not you agree with all of his policies, Trump’s economic policies are helping millennials and opening up business opportunities that were never before available under previous administrations. His combination of pro-growth tax cuts and cutting regulations have put Americans back to work, proving once again that less government makes for a prosperous economy.