Indonesian Millennial Entrepreneurs and Their Successful Startups
In the past few years, it has been noticed across the globe that millennials have shown the spirit of entrepreneurship. In fact, they have grown interested in establishing startups and coming up with innovative ideas. This trend of startups is bound to stand out in the rapidly growing economy of developing countries around the world.
In this age of technology and information, Indonesia is driven by the spirit of entrepreneurship in millennials. Thus, it can be deduced that Indonesia is offering opportunities to the youth to come forward with their ideas of startups and achieve their dreams. In this article, we will look into this growing trend.
Some Examples of Indonesian Startups for Millennials, by Millennials
Following are listed some of the most successful startups by millennials in Indonesia. These startups are set to make a global impact and result in the growth of the country’s economy:
Go-Jek, a Jakarta based startup, deals with internet technology, logistics, and transportation. It has become the first company in Indonesia to achieve the status of Decacorn i.e., a company with a value of over $10 billion.
A popular online marketplace in Indonesia, Tokopedia has unicorn status, i.e., it has a value of over $1 billion.
One of the largest e-commerce and technology companies in Southeast Asia, Bukalapak also enjoys the unicorn status with a valuation of over 1 billion USD.
Traveloka is another Indonesian unicorn company that provides flight and hotel booking services online.
What Drives the Spirit of Entrepreneurship?
Millennials are often reputed at highly ambitious who prefer entrepreneurship and create their own paths instead of a 9 to 5 job. Following are the reasons what drive the spirit of entrepreneurship in millennials to start their own business:
It’s Not Only About Money but Also Freedom
Any millennial will tell you that a perfect job is where you get the most flexibility and freedom. They believe that they can provide you with the best results if they choose for themselves how and when they want to work. Therefore, the millennials start to work out as freelancers before they think of a startup.
Also, most of the millennials would seem to rather compromise with money than with work conditions. Do not confuse their choice for flexibility with the inability to adapt.
The Thrill in Innovation
Millennials do not prefer to cling to their comfort zone. They like to go out, get some new experience, relish the creativity and innovations that challenge them to devise solutions. However, the adrenaline of building a name and establishing a business is enough for them to ditch their 9 to 5 jobs. They reject the concept of settling and do not have any burden of financial stability in comparison to older generations.
Once they have worked for a while and saved an amount to invest and support their needs, they quit the corporate world. From there, an entrepreneur is born.
Millennials Are Natives to the Digital World
According to the statistics, approx 91% of the millennials use the internet and have made the digital world their home. For them, it is easier to learn digital tools. When they see that society lacks something and it requires a solution, they will come up with a digital solution. From there, they start out on the way of being entrepreneurs in Indonesia.
Are you a millennial and looking forward to joining the entrepreneur folk and starting a business? Get help from professional business setup services in Indonesia who have the proper resources and are aware of what you require.
3E Accounting has been helping millennials across the world to start their own business. We have a team of experts who can get you started by handling all documentation, legal, taxation processes. We can also help you in building your dream company which can one day inspire other millennials to take on the entrepreneur journey. Contact us for more information.