In a break from traditional career aspirations, 70% of young adults categorically dismiss the prospect of working for someone else, expressing an intent to launch their own businesses within the next three years, as indicated by a survey of 2,000 adults across a wide age range.
In the realm of 18 to 24-year-olds, a noteworthy 23% voiced strong objections to the conventional nine-to-five workday, expressing discontent with their current employment scenarios which do not satisfy their diverse requirements such as opportunities for creativity, flexible work hours, and remote working options.
These sentiments could explain why nearly half of Gen Z respondents harbour entrepreneurial aspirations, expressing particular interest in sectors like handcrafted goods, the hospitality industry, and sustainable beauty products.
This study, sponsored by Adobe, discovered that 27% of young adults contemplating starting their own enterprises felt that their creative potential would be stifled in a traditional nine-to-five job setting. Consequently, 40% prioritised flexible working hours as an essential characteristic of their ideal job.
Interestingly, 30% demanded a salary that would accommodate their lifestyle. Driven by these specific requirements, 45% affirmed their innovative ideas for their own entrepreneurial venture.
Reinforcing this trend, 52% of Gen Z participants disclosed that they already had a side hustle. Moreover, nearly half (47%) of the respondents preferred to independently kick-start their businesses, in lieu of enlisting experts in diverse fields.
This fierce sense of independence was further confirmed with 55% of them stating they would design their own branded materials – a figure that outstrips other age groups by nearly 20%.
In terms of their entrepreneurial ambitions, 28% of the 18 to 24-year-old group wished to create a product or service that effectuated change. An equal proportion desired their businesses to positively impact society, according to the data obtained from OnePoll.com.
Reflecting on their potential ventures, a notable 45% of Gen Z respondents were confident of achieving success, compared to the more modest 24% of Millennials and 13% of Gen X adults.
Despite this optimism, 45% of 18 to 24-year-olds acknowledged the need to better motivate themselves during challenging times. In response to these insights, Adobe has collaborated with Harpreet Kaur, the winner of The Apprentice 2022, to inspire young adults to remain motivated using Adobe Express.
Harpreet Kaur expressed her delight at seeing the entrepreneurial spirit alive and well in the upcoming generation. She emphasized the importance of self-belief and applauded their creative ideas and side hustles, stating, “The next generation will undoubtedly push the boundaries of what those before them have achieved, and I can’t wait to see it.”