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60% of Young Adults Plan on Being Their Own Boss by the Age of 30

60% of Young Adults Plan on Being Their Own Boss by the Age of 30

Gen Z has big entrepreneurial plans for their future.

According to a new poll, 6 in 10 Gen Zers plan to be their own boss by the time they’re 30, and 63% have already taken steps towards starting their own business. Jobs in food and drink (22%), entertainment (19%) and fashion (18%) are the most appealing sectors for Gen Z adults.

Of course, every generation has some sort of entrepreneurial spirit, but Gen Z seems to be the most ambitious overall. Comparatively, only a third of millennials (37%) said they would like to start their own business or side hustle at some point.

For Gen Z, the desire to start and own their business stems from personal reasons over professional ones. Thirty-eight percent of Gen Z said they wanted to start a business to follow a passion, while 35% said they wanted to do it to experience more personal growth. Additionally, 16% said helping out their local community was also a driving factor.

“Being your own boss can give you freedom, but it also requires a huge amount of hard work, passion and dedication,” said Deepak Soni, director of small business insurance for AXA, said. “It’s fantastic to see there’s a new wave of would-be entrepreneurs who are relying on enthusiasm to compensate for their lack of entrepreneurial experience.”

Side hustles, which can easily develop into full-time businesses, can be difficult to get started. The first step is figuring out what you want to invest your time, money and resources in. For more tips on getting your side hustle or career started, check out RELEVANT’s guide to maintaining a side hustle here.

© 2023 RELEVANT Media Group, Inc. All Rights Reserved.

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