A recent survey of 2,000 British adults revealed that 75% of Gen Z, those born between 1996 and 2012, aspire to be their own boss and have no plans to work a traditional 9-to-5 job for their entire career. The survey also found that 77% of Gen Z are confident in their ability to start and run a successful business, with 39% believing they only need a smartphone to do so. In contrast, just over a third of Gen X and Baby Boomers said they had fewer opportunities to start their own businesses when they were young due to pressures to pursue traditional education and career paths.
Gen X were born between 1965 and 1980, while Baby Boomers were born between 1946 and 1964, following World War II. Sam Jones, Dragon’s Den star and founder of Gener8, said, “Gen Z is proving to be the most entrepreneurial generation yet, and it’s no coincidence. Unlike previous generations, they’ve grown up fully immersed in the digital age, where information, tools, and global connections are just a click away.” He added that this exposure has led to an innovation mindset, positioning Gen Z to outpace previous generations in turning ideas into reality.
Gen Z embraces entrepreneurial mindset
Future of work expert and managing partner at Workplace Intelligence, Dan Schawbel, echoed these sentiments, stating that Gen Z’s disenchantment with the rigid structure and perceived limitations of conventional work arrangements has made entrepreneurship appealing. Schawbel indicated that entrepreneurship offers Gen Z more control over their work and life, opportunities for innovation, and the potential to leverage their technological skills while addressing social or environmental issues they care about.
However, Schawbel also pointed out that while Gen Z are tech-savvy and smart, they may not be fully equipped to run their own businesses. He explained, “Gen Z’s readiness for the challenges of entrepreneurship is a mixed picture. While they possess certain advantages like digital savviness and innovative thinking, many may underestimate the demands of running a business.
Schawbel noted that the long hours, financial insecurity, and constant pressure of maintaining profitability can be daunting realities that clash with Gen Z’s desire for work-life balance.
He concluded that while some Gen Z entrepreneurs will thrive, others will face a “potential reality check” as business demands clash with their lifestyle preferences.
