More young people taking the leap into owning a small business
How did your country report this? Share your view in the comments.
Diverging Reports Breakdown
More young people taking the leap into owning a small business
Wisconsin bookstore, Mystery to Me, is under new, younger ownership. Business ownership for Americans under the age of 40 is at a 20-year high. Hannah Davidson, 29, and Hilary Burg, 32, are new owners of the bookstore. Shelby Olstad, 27, owns Miggy’s Bakes in Middleton, W.V. Olstad: “Just because you’re young doesn’t mean you can’’t do a lot, or have all of the experience and views and views you want.’”“I feel like the more people that are our age that get into small businesses the more that that knowledge is going to spread,” said Davidson. “I think I’ve thought more about what do I want to be doing in five years or ten years, rather than my age.” “They get attached to a place in their neighborhood and they want to see it continue to be successful,’ said Burg.
Wisconsin bookstore, Mystery to Me, is under new, younger ownership.
Hannah Davidson, 29, and Hilary Burg, 32, were both employees at the bookstore and bought Mystery to Me from the previous owner, Joanne Berg, who retired at the end of 2024.
“I knew I couldn’t pass it up and I would absolutely regret not taking it on, even though it was earlier than I thought it was going to be,” Burg said.
Davidson and Burg are both new moms and decided co-owning the business would give them flexibility to juggle their work and home lives.
“We both have small babies so neither of us could do it by ourselves,” said Davidson. “When it was an option for us to do it together, that’s when we decided to do it.”
29-year-old Hannah Davidson (left) and 32-year-old Hilary Burg (right) are the new owners of Mystery to Me Books on Monroe Street. (WMTV)
Neither Davidson nor Burg said they gave much thought to their age when taking over the store.
“I think I’ve thought more about what do I want to be doing in five years or ten years,” said Davidson. “I think that was more what influenced my decision, rather than my age.”
The owners are encouraged to learn they’re not the only adults taking advantage of new opportunities at a younger age.
“I think it’s really cool that people our age are coming into this space because we’re learning so much about what it means to be a small business and how we operate different from how Amazon operates or Barnes & Noble operates,” Davidson explained. “I feel like the more people that are our age that get into small businesses the more that that knowledge is going to spread.”
Mystery to Me books on Monroe Street is now under new ownership. (WMTV)
The pair officially took ownership of the bookstore at the beginning of this year and said they’ve learned a lot in their first few weeks.
“When you take on a business, you take on everything,” Burg explained. “From making sure the sidewalks are salted to making sure we pay every bill on time, I think the challenge is figuring out how to balance all of those things.”
Loyal customers are thrilled Mystery to Me books will remain part of Madison’s iconic Monroe Street.
“We’ve had a lot of people come in since we bought the store and say ‘we’re so glad that somebody took this on and you didn’t just close,’” said Burg. “They get attached to a place in their neighborhood and they want to see it continue to be successful.”
27-year-old Shelby Olstad owns Miggy’s Bakes in Middleton. (WMTV)
Shelby Olstad whips up delicious treats at her bakery in Middleton.
The 27-year-old opened the storefront, Miggy’s Bakes, nearly two years ago. When she first started her business, Olstad was baking wherever she could find the space. She spent hours working out of her parents’ house before renting the kitchen at night at Marigold Kitchen.
“I knew I couldn’t rent a kitchen forever with how we were growing,” said Olstad. “It was either stay kind of where I was and be more comfortable or just try it and go for it.”
After she quit her corporate job to focus on Miggy’s Bakes full-time, Olstad faced her fears and found a place in Middleton to open up a storefront and live out her childhood dream.
“I always thought, since I was really little, I would say ‘I’m going to own a bakery’ but I didn’t know when,” Olstad said.
Miggy’s Bakes in Middleton opened a year and a half ago serving up delicious baked goods. (WMTV)
She said she views her age as an asset because she’s willing to take risks and try something new.
“Just because you’re young doesn’t mean you can’t do a lot,” said Olstad. “You don’t need to know or have all of the experience and know every answer. Just by starting, you figure it out when you go.”
Small Business Success
Recent downsizing of companies nationwide may be contributing to the rise in people wanting to own a business.
The Small Business Administration District Director, Eric Ness, said many people under the age of 40 want control over their careers.
“You’re bringing in people from a corporation that are saying ‘Hey, I’ve seen all of these experiences and now I want to do this on my own.’ We’re seeing that,” said Ness. “They want to see what’s coming down the road and if they’re running their own business, they can kind of see what and make some adjustments and know what’s going to happen.”
The Small Business Administration offers free and low-cost resources to entrepreneurs looking for advice. (WMTV)
Helping small business owners make the right choices for their industry is a big part of the Small Business Administration’s work. The SBA offers several free or low-cost programs to owners seeking advice.
“Friends and family are great, but you want to talk to people that have been in business or have information that can assist you in that business,” he said.
The SBA’s SCORE Business Mentoring program connects small business owners with experts to give them support in whatever area of their business they might need help with.
Oftentimes, Ness says, these mentors are retired or have decades of experience.
“There’s clearly a real give back and they want to help,” said Ness. “They say ‘Hey, I’ve done it, this is my way to help the next generation.’”
Other programs are geared toward helping veterans or women in business. To view the SBA’s full list of programs, click here..
Nearly 30% of the population under the age of 40 in Wisconsin are self-employed with many of them owning a small business. (WMTV)
Love Local
Small business owners say shops and stores that are locally owned always appreciate the love.
“Now that I’m really in the weeds, I understand what it takes to make the business successful,” said Burg. “Shopping at a small business makes a huge difference in the lives of the people who work there and the community that you’re in. I think people don’t always understand the impact of coming in and ordering one book here, versus ordering it on Amazon.”
The bookstore owners say small shopping choices can go a long way.
“Things like that really make a difference to us,” said Davidson. “We joke that every book bought helps us feed our babies, but it kind of does.”
Olstad encourages anyone to support local year-round.
“2024 was a hard year for a lot of small businesses, including ours. We definitely felt it last year,” said Olstad. “Having the support of the holiday season and all those types of things drive you through and make those hard times easier. Without that, a lot of us wouldn’t be here.”
Copyright 2025 WMTV. All rights reserved.
More young people taking the leap into owning a small business
Wisconsin bookstore, Mystery to Me, is under new, younger ownership. Business ownership for Americans under the age of 40 is at a 20-year high. Hannah Davidson, 29, and Hilary Burg, 32, are new owners of the bookstore. Shelby Olstad, 27, owns Miggy’s Bakes in Middleton, W.V. Olstad: “Just because you’re young doesn’t mean you can’’t do a lot, or have all of the experience and views and views you want.’”“I feel like the more people that are our age that get into small businesses the more that that knowledge is going to spread,” said Davidson. “I think I’ve thought more about what do I want to be doing in five years or ten years, rather than my age.” “They get attached to a place in their neighborhood and they want to see it continue to be successful,’ said Burg.
Wisconsin bookstore, Mystery to Me, is under new, younger ownership.
Hannah Davidson, 29, and Hilary Burg, 32, were both employees at the bookstore and bought Mystery to Me from the previous owner, Joanne Berg, who retired at the end of 2024.
“I knew I couldn’t pass it up and I would absolutely regret not taking it on, even though it was earlier than I thought it was going to be,” Burg said.
Davidson and Burg are both new moms and decided co-owning the business would give them flexibility to juggle their work and home lives.
“We both have small babies so neither of us could do it by ourselves,” said Davidson. “When it was an option for us to do it together, that’s when we decided to do it.”
29-year-old Hannah Davidson (left) and 32-year-old Hilary Burg (right) are the new owners of Mystery to Me Books on Monroe Street. (WMTV)
Neither Davidson nor Burg said they gave much thought to their age when taking over the store.
“I think I’ve thought more about what do I want to be doing in five years or ten years,” said Davidson. “I think that was more what influenced my decision, rather than my age.”
The owners are encouraged to learn they’re not the only adults taking advantage of new opportunities at a younger age.
“I think it’s really cool that people our age are coming into this space because we’re learning so much about what it means to be a small business and how we operate different from how Amazon operates or Barnes & Noble operates,” Davidson explained. “I feel like the more people that are our age that get into small businesses the more that that knowledge is going to spread.”
Mystery to Me books on Monroe Street is now under new ownership. (WMTV)
The pair officially took ownership of the bookstore at the beginning of this year and said they’ve learned a lot in their first few weeks.
“When you take on a business, you take on everything,” Burg explained. “From making sure the sidewalks are salted to making sure we pay every bill on time, I think the challenge is figuring out how to balance all of those things.”
Loyal customers are thrilled Mystery to Me books will remain part of Madison’s iconic Monroe Street.
“We’ve had a lot of people come in since we bought the store and say ‘we’re so glad that somebody took this on and you didn’t just close,’” said Burg. “They get attached to a place in their neighborhood and they want to see it continue to be successful.”
27-year-old Shelby Olstad owns Miggy’s Bakes in Middleton. (WMTV)
Shelby Olstad whips up delicious treats at her bakery in Middleton.
The 27-year-old opened the storefront, Miggy’s Bakes, nearly two years ago. When she first started her business, Olstad was baking wherever she could find the space. She spent hours working out of her parents’ house before renting the kitchen at night at Marigold Kitchen.
“I knew I couldn’t rent a kitchen forever with how we were growing,” said Olstad. “It was either stay kind of where I was and be more comfortable or just try it and go for it.”
After she quit her corporate job to focus on Miggy’s Bakes full-time, Olstad faced her fears and found a place in Middleton to open up a storefront and live out her childhood dream.
“I always thought, since I was really little, I would say ‘I’m going to own a bakery’ but I didn’t know when,” Olstad said.
Miggy’s Bakes in Middleton opened a year and a half ago serving up delicious baked goods. (WMTV)
She said she views her age as an asset because she’s willing to take risks and try something new.
“Just because you’re young doesn’t mean you can’t do a lot,” said Olstad. “You don’t need to know or have all of the experience and know every answer. Just by starting, you figure it out when you go.”
Small Business Success
Recent downsizing of companies nationwide may be contributing to the rise in people wanting to own a business.
The Small Business Administration District Director, Eric Ness, said many people under the age of 40 want control over their careers.
“You’re bringing in people from a corporation that are saying ‘Hey, I’ve seen all of these experiences and now I want to do this on my own.’ We’re seeing that,” said Ness. “They want to see what’s coming down the road and if they’re running their own business, they can kind of see what and make some adjustments and know what’s going to happen.”
The Small Business Administration offers free and low-cost resources to entrepreneurs looking for advice. (WMTV)
Helping small business owners make the right choices for their industry is a big part of the Small Business Administration’s work. The SBA offers several free or low-cost programs to owners seeking advice.
“Friends and family are great, but you want to talk to people that have been in business or have information that can assist you in that business,” he said.
The SBA’s SCORE Business Mentoring program connects small business owners with experts to give them support in whatever area of their business they might need help with.
Oftentimes, Ness says, these mentors are retired or have decades of experience.
“There’s clearly a real give back and they want to help,” said Ness. “They say ‘Hey, I’ve done it, this is my way to help the next generation.’”
Other programs are geared toward helping veterans or women in business. To view the SBA’s full list of programs, click here..
Nearly 30% of the population under the age of 40 in Wisconsin are self-employed with many of them owning a small business. (WMTV)
Love Local
Small business owners say shops and stores that are locally owned always appreciate the love.
“Now that I’m really in the weeds, I understand what it takes to make the business successful,” said Burg. “Shopping at a small business makes a huge difference in the lives of the people who work there and the community that you’re in. I think people don’t always understand the impact of coming in and ordering one book here, versus ordering it on Amazon.”
The bookstore owners say small shopping choices can go a long way.
“Things like that really make a difference to us,” said Davidson. “We joke that every book bought helps us feed our babies, but it kind of does.”
Olstad encourages anyone to support local year-round.
“2024 was a hard year for a lot of small businesses, including ours. We definitely felt it last year,” said Olstad. “Having the support of the holiday season and all those types of things drive you through and make those hard times easier. Without that, a lot of us wouldn’t be here.”
Copyright 2025 WMTV. All rights reserved.
Source: https://www.investigatetv.com/2025/06/17/more-young-people-taking-leap-into-owning-small-business/