Why Gen Z make great entrepreneurs
Gen Z are a creative bunch. Raised by new tech, unlike our boomer counterparts adapting to new software or creating digital content is no hard feat. But what is it about our generation that makes us quite so entrepreneurial?
Is it our tech-savvy, versatile outlook, or perhaps the problem-solving skills that make us great minds for business...We spoke to 23-year-old Entrepreneur of the Year and vegan brand owner of Eartheia Chloe Taylor, and 21-year-old Chief Executive of delivery app delivrme, Zak Loyd about their early successes as Gen Z founders, and why the generation stands out when it comes to business acumen.
One of the ways in which we can attribute Gen Z’s success as business owners, CEO’s and entrepreneurs to the generation's ability to remain socially conscious and up to date with current affairs. Chloe says ‘Gen Z are surrounded by a lot of politics and wider initiatives these days, especially through social media. It’s at the tips of their fingers. The second there’s worldwide news it floods their news feeds. I think this has created a generation that is a lot more purpose-driven and optimistic. I’ve seen a huge drive in startups that have a bigger purpose behind them as of late - many of which being about sustainability and decreasing climate change.’
Gen Z’s global awareness when it comes to social or environmental issues has been backed up by a 2021 Voxburner report. Whilst exploring Gen Z habits in response to brands the report found that Gen Z is receptive to brands taking a stance on social issues and nearly two-thirds of Gen Z adults say companies should be able to express how they feel on a topic. If you’re not a socially conscious brand with a real purpose, the likelihood is you’re not going to strike gold with Gen Z.
Purpose-driven brand focus is something that Chloe thinks about in her work, as the CEO of a vegan fashion and beauty site. Not only this but she gained investment and awareness of her business concept by pitching a 60-second video on TikTok to potential investors. It doesn’t get more Gen Z than that! It is exactly this kind of innovative, and adaptable attitude that puts our generation in the driving seat.
A WP engine Gen Z report highlighted that not only are Gen Z innovative enough to make it in business, they also want to grow within the field. The Report states that: 66% of Gen Z plan to start a business in the future.
Zak Loyd, says that ‘as a young entrepreneur you have to be fearless and innovative in your approach to your industry. As a Gen Z child growing up with technology, the industry is always changing and you have to create a business model and product which makes you stand out from the crowd. Creating an innovative business, with a clear target audience is key to the success of your business.'
It is this sense of drive, ambition, and the tech know-how to know how to do what we want to do that makes us a business tour de force. Not only are Gen Z great at starting our projects, but we are also highly valuable within an existing business framework and workforce. Quick thinking, problem-solving machines with enough drive to scare an older generation into action.
Words: Grace Goslin