MEXICO CITY CULTIVATES MILLENNIAL ENTREPRENEURSHIP

Young Millennials in Mexico City are not so different from their counterparts in the U.S. when it comes to a desire to be their own boss, says a new article from global research firm Gallup.work-abroad-female-store-owner-open3-300x167

Many of Mexico City’s young people are flocking to a new entrepreneurship program developed by the city’s Fund for Social Development (Fondeso) in partnership with the government of Mexico City. The focus of the program is on students between the ages of 14 and 18 who have an interest in starting a business.

Gallup reports that in today’s Mexico, only 27 percent of the adult population say they have a good job, which Gallup defines as 30 or more hours of work per week for an employer who provides a regular paycheck. The idea is to begin to build a culture of entrepreneurship in the nation.

The Jovenes Emprendedores en la Ciudad, or Young Entrepreneurs in the City program, assessed the entrepreneurial potential of 10,000 public high school students in 2014. Last year, another 15,000 were assessed. The goal for this year is to assess 30,000 high school students.

The Director of Fondeso – a government entity similar to the Small Business Administration in the U.S. – sees a generational shift in attitudes toward entrepreneurialism in Mexico City’s young people, Gallup says. Many of the students in the program are already involved in their families’ small businesses, working while they are in high school and college.

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