Gen Z Want To Be Their Own Boss And Become Entrepreneurs, Says Study

These findings showcased a clear shift in preferences from long-term employment opportunities with established businesses towards entrepreneurial ambitions

This change in ambition has resulted from the development and boom of digital technology which has acted as an enabler for future business leaders.

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The younger generations are redefining job structure as an increasing number of Gen Z now prefer to be entrepreneurs than work in someone else’s business. A recent poll by Santander UK found that a majority proportion of Generation Z are planning to run their own businesses than go for the traditional 9-5 jobs.

The survey revealed that 77 per cent of Gen Z respondents prioritise entrepreneurship and aim to ‘be their own boss’, reported Moneycontrol. These findings showcased a clear shift in preferences from long-term employment opportunities with established businesses towards entrepreneurial ambitions.

Notably, the survey focused on evaluating the professional aspirations of young people. Amongst the Gen Z respondents who expressed confidence in their entrepreneurial capabilities, 39 per cent said they could manage this simply via their smartphones. This highlighted the reliance of the younger generation on digital technology and platforms. 

Mike Regnier, CEO, Santander UK, commented that digital skills play a crucial role in the young generation’s ambitions for entrepreneurship, however, the basic underlying principles for success are not limited to any age group. “Entrepreneurship is driven by passion, curiosity, and the desire to create something meaningful. Some develop these attributes early on, while others may discover a business drive later in life,” the executive said.

Notably, the study said that Gen Z is emerging as the most entrepreneurial generation, however, it added that age should not be seen as an obstacle to success. This surge in entrepreneurship across generations shows the current evolution in career aspirations. This change in ambition has resulted from the development and boom of digital technology which has acted as an enabler for future business leaders.