Six in 10 young adults plan to be their own boss by the age of 30 – with thousands already taking steps towards starting their own business, research has found. A poll, of 2,000 adults, found that almost two-thirds of Gen Zs , born after 1996, have already tried their hand at a side hustle or small business venture.
Deepak Soni, the insurer’s UK director of small business insurance, said: “Being your own boss can give you freedom – but it also requires a huge amount of hard work, passion, and dedication. 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. We’re keen to support them on their journey, because we know that running your own business can feel like an uphill struggle at times.
In an ever-changing job market, nearly a third of Gen Z believe being their own boss would give them security – far more so than older generations . Both millennials and Gen Z were also more selfless in their outlook to starting a business – with helping their local community named as a driving factor for 21 per cent, and 16 per cent, respectively.