Gen Z Entrepreneurs are Thriving: New Square Report Finds 84% Still Plan to be Business Owners 5 Years From Now
26 7월 2023 - 11:00PM
Business Wire
Gen Z is proving its dedication to the
entrepreneurial grind with 73% reporting that their business is
their main source of income
Today, Square unveiled its first-ever Gen Z Entrepreneur Report,
revealing how Gen Z entrepreneurs view success, what challenges
they face, and what the future holds. For the full findings of the
report, you can view here.
Standout findings from Square’s Gen Z Entrepreneur Report
include:
- Nearly 3 in 4 Gen Z business owners (72%) believe their
generation has had fewer economic opportunities than previous
ones, yet 39% report wanting to earn enough money to start
another business or side hustle.
- Gen Z entrepreneurs aren’t just sole proprietors with
39% going beyond being their own boss and having five employees or
more.
- Economic policies are top of mind as Gen Z most notably
believes lower taxes (46%) would benefit their business, followed
by affordable housing (42%) and universal basic income (35%).
- Gen Z entrepreneurs are using their own savings to start
their business, with nearly half (45%) doing so, including 53% of
women compared to 38% of men.
- While 80% of young entrepreneurs started their business online
or had a mobile component, another 46% launched their business
with a physical location for omnichannel operations.
“Our generation is so entrepreneurial because we want to be in
control of our lives and determine when and where we work,” said
Savanna Boda, Founder and CEO of Savanna Boda Aesthetics in
Lewisville, TX, who uses Square for Retail, Square Appointments,
Square Invoices, and Square Marketing to run her business. “I
wanted to break away from the status quo of the corporate world so
that I could follow my passions on my own schedule. I’m addicted to
making people feel good about themselves and I get so much joy out
of knowing I’m helping my community of clients.”
To understand how Square makes commerce and financial services
easy and accessible for sellers of all types, size, and age, visit
squareup.com.
About Square
Square makes commerce and financial services easy and accessible
with its integrated ecosystem of solutions. Square offers
purpose-built software to run complex restaurant, retail, and
professional services operations, versatile e-commerce tools,
embedded financial services and banking products, buy now, pay
later functionality through Afterpay, staff management and payroll
capabilities, and much more – all of which work together to save
sellers time and effort. Millions of sellers across the globe trust
Square to power their business and help them thrive in the economy.
For more information, visit www.squareup.com.
Methodology
The Square Gen Z Survey was conducted by Wakefield Research
(www.wakefieldresearch.com) among 250 Gen Z US business owners,
between April 18th and April 28th, 2023, using an email invitation
and an online survey.
Results of any sample are subject to sampling variation. The
magnitude of the variation is measurable and is affected by the
number of interviews and the level of the percentages expressing
the results. For the interviews conducted in this particular study,
the chances are 95 in 100 that a survey result does not vary, plus
or minus, by more than 6.2 percentage points from the result that
would be obtained if interviews had been conducted with all persons
in the universe represented by the sample.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230726445969/en/
press@squareup.com
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