New data suggests ‘Gen Z’ has extraordinary entrepreneurs

The past three generations have been labeled with monikers that are identifiable with one letter. First there was Generation X, a group of people born during the baby-boom era in the decades after World War II, leading up to the early 1980s. Then there was Generation Y, which took the mantle from those early 80s to the mind 1990s. And now a group of high schoolers (or younger) are known as Generation Z, a group born from roughly 1994 to 2010.

Why are we discussing past generations on a business law blog? Well, there is new research out there that indicates that Generation Z may be the most entrepreneurial generation ever — even more so than Generation Y, which held such a title before.

Generation Z has a truly amazing amount of resources at its disposal. With the internet, tablets, apps, skill-sourcing programs and free educational opportunities available in ways previous generations couldn’t have even dream of, members of Generation Z are quite equipped to venture out on their own and start their own business. In fact, a new survey found that 72 percent of high school students and 64 percent of college students want to start their own business.

Think about it. The world is so different from even 20 years ago. The traditional education methods are no longer the pillars of learning a specific skill. They still can be, mind you — but the focus has shifted. That education, or specific skills, can be easily garnered online by connecting with people that have that knowledge — and there are plenty of programs and websites that provide these connections.

As such, we could be looking at a landmark number of entrepreneurs coming out of Generation Z.

Source: Entrepreneur.com, “Why ‘Gen Z’ May Be More Entrepreneurial Than ‘Gen Y’,” Dan Schawbel, Feb. 3, 2014

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