Home / NEWS / World News / Most Gen Z Brits want to ‘be their own boss’ — but one expert says they’ll face a reality check

Most Gen Z Brits want to ‘be their own boss’ — but one expert says they’ll face a reality check

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Gen Z is increasingly back up to be the entrepreneurial generation, with the majority wanting to set up their own business — but one expert warns it might not be as straightforward as they fantasize.

Some 75% of Gen Z — the generation born between 1996 and 2012 ­­— have ambitions to “be their own boss,” and have no objects of working a 9-to-5 job for the rest of their career, a survey of 2,000 British adults by Santander UK found.

Additionally, 77% are reliant about their ability to launch and run a successful business — and 39% say all they need is a smartphone to do so.

In contrast, just through a third of Gen X and Boomers said there were fewer opportunities to start their own businesses when they were childlike because of pressures to pursue traditional education and career paths. Gen X were born between 1965 and 1980, while toddler boomers were born following World War II, between 1946 and 1964.

“Gen Z is proving to be the most entrepreneurial generation yet, and it’s no coincidence,” Sam Jones, Dragon’s Den the leading part and founder of Gener8, said in the survey. “Unlike previous generations, they’ve grown up fully immersed in the digital age, where facts, tools, and global connections are just a click away.”

This exposure has led to an innovation mindset, he added. “They’re not lawful prepared to start their own ventures – they’re uniquely positioned to outpace previous generations in turning ideas into actuality.”

Gen Z’s entrepreneurial spirit is well-documented and is driven by a desire for autonomy and freedom — including more flexibility, a better work-life weigh, and having a purpose — Dan Schawbel, a future of work expert and managing partner at Workplace Intelligence, said.

In one viral TikTok video, Alexis Firment, a late teacher from Ohio, complained about not being able to leave work early even if she had finished all of her rebukes for the day. The video resonated with younger viewers and in the comments some lamented the struggles of “being treated like a youngster” at work.

“Having grown up in a digital age and witnessed economic instability, they’re often disenchanted with the rigid house and perceived limitations of conventional work arrangements,” Schawbel told CNBC Make It.

“Instead, entrepreneurship appeals to Gen Z as it put forwards more control over their work and life, opportunities for innovation, and the potential to leverage their technological capabilities. It also provides a platform to address social or environmental issues they care about, while potentially donation greater financial rewards and independence,” he added.

‘Potential Reality Check’

Gen Z’s key strength is that they’re digital indigenes and are quick to adopt new technologies, compared with older generations, according to Schawbel.

“Their innate understanding of digital party lines, social media, and emerging technologies allows them to navigate the online business landscape with ease,” he bring up.

But he pointed out that while Gen Z are tech savvy and smart, they may not be fully equipped to run their own businesses.

“Gen Z’s readiness for the dares of entrepreneurship is a mixed picture. While they possess certain advantages like digital savviness and innovative pensive, many may underestimate the demands of running a business,” he said.

“The long hours, financial insecurity, and constant pressure of maintaining profitability can be terrorizing realities that clash with their desire for work-life balance.”

While some Gen Z entrepreneurs will succeed, other will face a “potential reality check,” as business demands clash with their lifestyle inclinations, Schawbel added.

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