Gen Z is not just dabbling in entrepreneurship — they’re diving headfirst into it. Recent research from ZenBusiness reveals that a remarkable 93% of Gen Zers have already explored business ownership. This isn’t just a phase; 75% of them aim to become full-time entrepreneurs, as the appeal of traditional careers diminishes.
With their digital expertise and drive for change, they’re bringing entrepreneurship into the mainstream and redefining success on their own terms.
Let me break this down for you.
Redefining Prestige
The 9 to 5 job isn’t getting much love from Gen Z. ZenBusiness found that a staggering 72% of Gen Z respondents believe traditional career paths aren’t applicable to them anymore. This is not just a sentiment; it’s a significant portion of our future workforce challenging the status quo.
But here’s the interesting part: Gen Z isn’t sitting idle. The survey shows that 84% of them find entrepreneurship exciting among 12 career options, with 75% planning to pursue it. They are trading traditional jobs for the excitement and creativity of entrepreneurship. Additionally, 80% of Gen Z believes they are better suited for entrepreneurship than their parents’ generation.
Gen Z Might Be Perfect for Entrepreneurship
This makes sense for several reasons. Gen Z is practically built for entrepreneurship — they are tech-savvy, generally dislike the corporate grind, and want to do something meaningful. Here are two big reasons why this is perfect timing:
Financial Shift — According to a Deloitte survey earlier this year, over 50% of Gen Z live paycheck to paycheck. Their financial concerns are growing year over year. Economic uncertainty is causing them to delay big life decisions — many of them say it’s becoming harder or impossible to buy a house, start a family, or find a new job. With the current job market, economic crisis, and trends like quiet quitting gaining attention, this new wave of entrepreneurship comes at a critical time, challenging Gen Z to take charge.
Technological Shift — Technological advancements, globalization, and the gig economy are lowering barriers for younger generations, allowing them to seize opportunities and start businesses early. Gen Z grew up with the internet and mobile phones. They are the most tech-literate generation. This is reflected in the ZenBusiness survey, where 69% of respondents say they have learned about entrepreneurship through self-directed research and online videos. With tons of content about entrepreneurship, side hustles, dropshipping, content creation, streaming, and more, these young professionals are expanding their knowledge and even practicing it.
Starting dropshipping takes minimal effort. And if that seems complex, creating content to earn money is another option Gen Z has figured out. ZenBusiness SVP Michael Fanuele told Yahoo Finance, “People quickly realize that as you start producing content, and as you start getting paid, you’ve just become a business.”
Creator Economy
The ZenBusiness survey found that 84% of Gen Zers rank “creator” as the most accessible or feasible career, with entrepreneurship close behind at 78%. According to a recent Adobe report, about half of Gen-Z creators are earning revenue from creative content and social posts. HALF! Incredible.
With the rise of the creator economy and success stories like Mr. Beast (who is just 25 years old), the trend will continue. There are many new Gen Z marketing or social media agencies run by Gen Z to help corporate brands connect better with younger audiences. This is probably because older companies realize they now “have” to appeal to the largest generation in the world (30% of the world’s population is Gen Z).
Most people see the creator economy as just online influencing. But that’s far from the truth. For the first time, it’s incredibly easy to be your own boss and earn money from your creations. That could be a song, a sketch, a dance, or even a LinkedIn post.
The creator economy has no rules.
What’s the Shift?
Gen Z is Transforming Entrepreneurship
The entrepreneurial landscape is changing, and Gen Z is driving this transformation. This isn’t just about new businesses popping up, like the Gen Z-founded August — a lifestyle brand reimagining periods to be powerful; it’s a profound shift in how we think about work, careers, and life itself.
Traditional career paths are being reassessed, as nearly 90% of Gen Z believes they can’t rely on old strategies to build their careers. Looking to the future, it’s clear we are at the cusp of a significant shift. This generation, equipped with digital skills and a desire to create a better world, is breaking away from tradition and creating their own rules — doing whatever makes them happy.
They’re not waiting for the world to change; they’re making it happen.
Exciting Opportunities for Building in This Space:
Unique Creator Apps: Most financial, transaction, or business apps look like they were designed for 70-year-old car dealers. They look stale. There is plenty of opportunity to design for niche use cases that appeal to young entrepreneurs. For example, check out Passionfroot, which makes managing sponsorships for creators super smooth.
Enable Creation: Build products or services that enable creation more than consumption. The new workforce wants to work on their own terms and earn money by creating unique value propositions. Can your product, physical or digital, enable creation? I predict that Remarkable might actually take off in the next couple of years.
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