It is well known that entrepreneurship has been declining over the last few decades, but what is the real cause behind it? There are many different theories, from schooling systems, religion, student debt, economic hardships, a change in attitudes, and a more talk, less action society.
Since the 1980's, there has been a consistent decline in entrepreneurship among those under 30. There has been a lot of research and many different theories have developed as to what the cause of this factor is. One of these theories is that the change in schooling systems and culture that encourage young people now a days to spend their 20's and 30's in the traditional business market has created a climate extremely antagonistic to entrepreneurship and economic growth. A second theory has to do with a shift in religion and its correlation to the decline in entrepreneurship among young individuals.
The third theory revolves around the rising student debt. Some consider this causation while others see it as simply correlation. The theory is that the rising levels of student loans are draining the borrowing capability of millennials and keeping them from starting up a company. It is a proven fact that students brought up with more economic hardships are less likely to start their own companies than students who were not. A fourth thought is that maybe it isn't the student loans, but more of a change in attitude among the millennial generation. Students are more interested in other life goals than being successful entrepreneurs like generations before.
The last theory is about a shift in society as a whole, becoming more talk and less action. People are using the words "entrepreneur" and "leader" without actually taking any action to follow up, so maybe that is one of the reasons behind the decline in entrepreneurship.
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