Generation Recession: a fierce new breed of business owners


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September 3rd, 2014
Hiscox Experts

Hiscox insures more than 300,000 UK businesses and has been named Best Small Business Insurance Provider by Start Your Business magazine for eight years in a row.

Meet Generation Recession – this new breed of entrepreneurs are young, they’re determined, they’re innovative, they’re hiring, and here to stay. And we’ve uncovered some interesting findings regarding their make-up and behaviours.
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This year, our DNA of an Entrepreneur Report has identified a new, dynamic breed of business entrepreneurs started during the economic downturn.

Generation Recession businesses are young, they’re determined, they’re innovative, they’re hiring, and here to stay. And we’ve uncovered some interesting findings regarding their make-up and behaviours.

They are more likely to be led by a female owner, they’re also younger and more digitally focused than their pre-recession counterparts – whether it’s launching a new product online, or using social media to connect with new customers.

These businesses are the epitome of small and brave; the tough financial climate has only increased their determination to succeed, and their optimism and attitude to growth means they likely to play an important role in boosting the economy.

We’ll be holding a Google+ Hangout later this month with a variety of businesses to further examine the differences between Generation Recession and pre-recession. Find out more on Twitter via @Hiscox (external link) and join the discussion using #GenerationRecession.

Generation Recession Infographic