Entrepreneurs in the Milwaukee metropolitan area are starting companies at a younger age than entrepreneurs in other cities, according to recent data from financial service company LendingTree.
In Milwaukee, the average age of a new business owner is 37.9, below the national average of 39. New Orleans topped the list with an average founders age of 37, followed by Salt Lake City and Philadelphia. Sacramento has the oldest pool of founders with an average age of 41.
The rankings are based on data compiled from new business owners seeking funding from LendingTree. Millennials make up the bulk of entrepreneurs in each study, per the study.
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In Milwaukee, roughly 52% of startup founders are millennials. The second largest age demographic of startup founders in the metro is the Gen X generation at 32%, followed by baby boomers (10%), Gen Z (3.5%) and the Silent Generation (1.2%), which are people born between 1928 and 1945.
Cities that rank toward the top are credited with having a multitude of resources to support entrepreneurs. In Milwaukee, resources include accelerators like gener8tor and gBeta, the BREW accelerator for water-centric startups, The Blueprint by Y.E.S., Scale Up Milwaukee, and WERC Bench Labs, an accelerator for advanced manufacturing and energy-based companies. Other organizations offering coaching, training and money lending include BizStarts and WWBIC.
