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Are Gen Z Entrepreneurs Paramount to Our Economy?
Jemima Hunter
September 17, 2021
With an entrepreneurial route more desirable within the Gen Z community, studies have established that more than half of this generation’s goal is to run their own businesses.
With over twenty-four percent that has begun their entrepreneurial journey already, it is often encouraged by social media, parents and peers to do the same but how will this affect our economy?
Due to the pandemic, many were out of jobs for a long time, yet the Generation Z entrepreneurs have supported economic recovery post-pandemic by growing businesses from creative home start-ups and opening new job opportunities.
With a significant portion of young enterprisers re-considering the necessity of long-term education in order to accomplish their goals, the Gen Z demographic is beginning to follow a less conventional path and get hands-on experience in the industry.
The born into tech generation have bigger platforms to showcase their work and branding, which makes it easier to grow a business and therefore has a greater opportunity to be a vital aspect of a growing economy.
The normalisation of starting a business from a young age provides a real-life application to educational practices and is gradually bringing fresh perspectives to traditional industries.
‘Youth culture is constantly evolving, and Gen Z, in particular, is disrupting industries. Gen Z represents an unprecedented group of innovation and entrepreneurship. This group is focused on niche interests and if brands don’t recognize this now and get on board, they are going to be left behind. It’s also important for brands to adopt a global mindset, as some of the most significant growth is taking place in countries that are either developing or underdeveloped.’
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