Pairing their observation of previous generations’ trial and error with their own entrepreneurial spirit, Gen Z is a powerhouse of innovation. Growing up during the Great Recession and student loan crisis, this generation is typified as being born from 1996-present, following the oft-maligned millennials. What sets them apart, however, is their intrinsic desire to do things on their own terms.
The oldest among Generation Z are already beginning to graduate college and head into their careers. But they began forging their path long before college, and in some cases even before high school. Among Gen Zers, 21% already have bank savings account before age of ten and 24% say they are planning on using their own funds to pay their way through college.
Collectively rejecting the student loan culture that destroyed millennials, it’s no wonder Gen Z turns a cold shoulder to potential lifelong debt. Though young, 76% of Gen Zers already earn their own money through part-time jobs and 38% of them say they plan on continuing working while in college.
For Gen Z, college is just a small part of the equation; unlike earlier generations who considered college necessary for success, many Gen Zers take university with a more pragmatic, “get in and get out” approach. Among recent college grads, many of which contain majority Gen Zers, 88% say they considered the job market before choosing their major. Though forward-thinking and optimistic for their future, Gen Zers aren’t afraid to look to the past either. Using social media more as a networking tool, rather than an online novelty, Gen Zers easily connect with millennial mentors for a helping hand and wisdom.
According to middle and high schoolers today, an incredible 41% of students say they plan on starting their own business one day and 45% say it’s their goal to invent something that will “change the world.” As kids, we all had big dreams though not necessarily the drive, resources, or even talent to make it happen. Not so with Gen Z. With freelance work already consistently on the rise, young workers have more opportunities than ever to take their skills to any number of industries, and in the process diversify their portfolio and learn valuable skills in being one’s own boss. By 2027, the majority of US workers could be freelancers, upheld by versatile skills of Gen Zers.
Gen Zers put a lot of focus on preparations – from their savings account to their years in college, the culmination comes out to powerful professional skills and entrepreneurship. Surpassing even millennials as the “entrepreneurial generation,” Gen Zers are forcing paths well beyond the Silicon Valley style startup and turning platforms into money-making ventures. From YouTube review channels to Twitter VCs, Gen Zers aren’t just changing the way we think about entrepreneurship, they are changing the way we think about business altogether.
The business of tomorrow lies in the hands of Gen Z, perhaps the most entrepreneurial generation ever. Take a look at this infographic for more not he post-millennial generation Gen Z, their views on education and business, and perhaps what we can all learn from their unique perspectives on the future.
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