Born from 1996-present, Gen Z is beginning to overshadow millennials as the young whipper snappers. Discontent with the status quo and waiting around for their dream job to come to them, Gen Zers build their own opportunities for success – in other words, entrepreneurship.
Already including 71 million Americans ranging from middle school to recent college grads, these young folks grew up quickly between both the Great Recession and student loan crisis. In 2017, 44 million Americans had a collective student loan debt of $1.4 trillion, and Gen Z becomes increasingly reluctant to take on that burden themselves. Left with no other option but to pay for college themselves, Gen Zers aren’t afraid to invest in their own future, 70% of them believing that student loan debt will only make it more difficult to save money in the future. Today, 76% of them are already earning their own income from part-time jobs, and 38% have plans to continue working through college.
Much like millennials, once thought to be the entrepreneurial generation, Gen Zers are following in their footsteps with optimism and confidence. But that confidence didn’t come out of nowhere; before age 10, 21% of Gen Zers already have their own savings account, and along with it, big dreams for the future. Among high school and even middle school students 41% say they plan on starting their own business in the future and aren’t afraid to back up these goals with solid plans. By the time they enter college, Gen Zers carefully consider the job market as an essential stepping stone for future entrepreneurship.
As they enter adulthood, Gen Z’s attitudes on education, career, and finances in particular, make them a powerful economic force. This infographic details the vision of Gen Zers, how they take wisdom from mentors, business leaders, and peers, and what their hard work will mean for the future of entrepreneurship.
Source: Online Schools Center