As of May 2021 a study was done on people born between 1997 and 2007 to find that 53% of them wanted to run their own business someday, and accounting for those that are currently in the workforce the proportion increases to 65%.
The reason for this is the ease of access to info and self realization and learning. Because of the addition of the web and the tech savviness of Gen Z, most people have more access to innovation than ever people. The opportunity for creativity, innovation, and the ability to learn about things we are passionate in and turn that into an entrepreneurial idea is so readily available. The urge for people to work in a job that they love has always been a goal for those in the workforce, however, most people get stuck riding the educational ladder in the most competitive areas possible to earn a living all to just hate their job (if they make it).
Being an entrepreneur has less resistance than ever before and people want to take advantage of it. Apparel business? Done. Go online and make it happen. go viral for inspirational, funny, informative, gaming, etc. videos? Done. Go on Youtube, Tik Tok, or Insta, and, with a little effort, can make a quite lucrative business in videography. The options are endless and they all can be crafted to the passions and pains of the individual. This is why Gen Z’s and millennials are going the entrepreneurship route, and why I wouldn’t be surprised if interest continues to rise for those who want to one day own their own business.
It is amazing to see how many people our age have interest in owning their own business. With the internet, truly anything is possible. It has allowed people to pursue successful careers doing things that they truly enjoy. It’s exciting to see kids my age become so successful!
This is a fascinating topic and enjoyed learning that more than half (53%) of our generation and the millennials wish to pursue their own interests as being entrepreneurs. I think that having a generation of young adults who wish to have their own business speaks well of our generation and how they want to make a positive impact on society.
Owning your own business can be very stressful but there are a ton of advantages, I would love to see more in-depth statistics about business owners keeping their company vs handing it off to a 3rd party company to make changes for them!
I would 100% agree with this. We as Gen Z hope to innovate and create at a rate never before seen. We do not aspire to become the common 9-5 worker of the past. This can have positives and negatives. I wonder how much of an impact this will have on the economy in the next 20 years?