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Gen Z Embraces Entrepreneurship as 93% Take Steps Towards Business Ownership, Reveals Study

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By: Emmanuel Abara Benson
Gen Z Embraces Entrepreneurship as 93% Take Steps Towards Business Ownership, Reveals Study
A group of young entrepreneurs brainstorming ideas.

New research conducted by ZenBusiness has revealed that a staggering 93% of Generation Z individuals, aged 18 to 25, have taken steps towards exploring business ownership.

The study also highlighted that 84% of Gen Zers consider entrepreneurship as the most exciting career path among 12 options, with 75% expressing their ultimate goal of becoming entrepreneurs.

The study further revealed Gen Z’s discontent with traditional work structures. Dr. Corey Seemiller, an expert on Gen Z, pointed out that this generation seeks healthier, more prosperous, and more flexible work environments. Frustrated with the limited opportunities provided by traditional career paths, 72% of Gen Zers believe that they need to create their own opportunities. They strive to shape their own destinies rather than relying on conventional strategies for career advancement.

Embracing a Novel Mindset

The study noted that Gen Z’s entrepreneurial spirit sets them apart from previous generations. This mindset of creating their own path is revolutionary and hasn’t been seen since the 1930s. Gen Zers possess a unique drive to build a more fulfilling and prosperous future, both for themselves and for the world.

The Influence of Social Media and Content Creation

Note that social media plays a significant role in Gen Z’s inclination towards entrepreneurship. Over 84% of Gen Zers consider being a “creator” as the most accessible or feasible career option, closely followed by entrepreneurship at 78%. The rise of content creation on social media platforms has created a new class of entrepreneurs. As individuals start producing and monetizing content, they transform into businesses themselves.

Confidence and Inspiration from Parents

Gen Zs exhibit a remarkable level of confidence in their entrepreneurial abilities. About 80% believe that their generation possesses better skills for entrepreneurship than their parents’ generation. This confidence is likely fostered by their exposure to social media and technology, where they have access to resources and self-directed research on entrepreneurship. Furthermore, many Gen X parents also have side hustles or entrepreneurial ventures, inspiring their Gen Z children to follow suit.

 

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