Gen Z isn’t just dabbling in entrepreneurship—they’re fully embracing it. Recent data from ZenBusiness reveals that an impressive 93% of Gen Zers have already explored business ownership. This isn’t just a passing phase; 75% of them aim to become full-time entrepreneurs as traditional career paths lose their appeal.
With their tech skills and desire for change, Gen Z is making entrepreneurship mainstream and redefining success on their own terms.
Let’s break this down.
A New Definition of Prestige
The 9-to-5 job isn’t resonating with Gen Z. According to ZenBusiness, a striking 72% of Gen Z respondents believe that the traditional career paths of their parents don’t apply to them anymore. This isn’t just an opinion; it represents a significant shift in the future workforce challenging the status quo.
Interestingly, Gen Z isn’t just voicing dissatisfaction; they’re taking action. The survey shows that 84% find entrepreneurship exciting among 12 career options, with 75% intending to pursue it. They are swapping traditional jobs for the excitement and creativity of entrepreneurship. Moreover, 80% of Gen Z believes they are better suited for entrepreneurship than their parents’ generation.
Gen Z: Built for Entrepreneurship
This makes sense for several reasons. Gen Z seems made for entrepreneurship—they are tech-savvy, generally dislike the corporate grind, and want to do something meaningful. Here are two main reasons why this is happening now:
Financial Shift: According to a Deloitte survey, over 50% of Gen Z lives paycheck to paycheck, and their financial worries are growing. Economic uncertainty is causing them to delay major life decisions. With the current job market and economic challenges, this new wave of entrepreneurship is well-timed, pushing Gen Z to take control.
Technological Shift: Advances in technology, globalization, and the gig economy are lowering the barriers to entry for young people, allowing them to start businesses early. Gen Z, having grown up with the internet and mobile phones, is the most tech-literate generation. The ZenBusiness survey shows that 69% have learned about entrepreneurship through self-directed research and online videos. They are not only expanding their knowledge but also putting it into practice.
Starting a dropshipping business or creating content to earn money requires minimal setup. As ZenBusiness SVP Michael Fanuele told Yahoo Finance, “People quickly realize that as you start producing content and getting paid, you’ve just become a business.”
The Creator Economy
The ZenBusiness survey found that 84% of Gen Zers see “creator” as the most accessible career, with entrepreneurship close behind at 78%. A recent Adobe report indicates that about half of Gen-Z creators are earning money from their creative content and social posts.
With the rise of the creator economy and success stories like Mr. Beast, this trend will continue. Many new Gen Z marketing and social media agencies are emerging, helping corporate brands connect with the younger audience. Older corporations recognize the need to appeal to Gen Z, which makes up 30% of the world population.
The creator economy isn’t just about online influencing. It’s now easier than ever to be your own boss and earn money from your creations, whether that’s a song, a sketch, a dance, or a LinkedIn post.
The Shift in Entrepreneurship
Gen Z is changing the rules of entrepreneurship. This shift isn’t just about new businesses like August, a Gen Z-founded lifestyle brand reimagining periods; it’s a fundamental change in how we think about work, careers, and life itself.
Traditional career paths are being re-evaluated, with nearly 90% of Gen Z believing they can’t rely on old strategies to build their careers. As we look to the future, it’s clear we are at the beginning of a significant change. Equipped with digital skills and a desire to make the world better, Gen Z is breaking from tradition and creating their own rules—pursuing whatever makes them happy.
They aren’t waiting for change; they’re making it happen.
Opportunities in This Space
Unique Creator Apps: Many business apps look outdated. There’s a big opportunity to design apps for young entrepreneurs. For example, Passionfroot simplifies managing sponsorships for creators.
Enable Creation: Build products or services that enable creation rather than consumption. The new workforce wants to work on their own terms and create unique value. Products like Remarkable might become very popular in the next few years.
