entrepreneurship is often showcased on social media by young people
According to a December 2021, survey by the nonprofit youth organization Junior Achievement, about 60 percent of 13- to 17-year-olds want to start their own business. According to a survey of 3,000 professionals by the platform Upwork, 42% of Gen Z performed gig work last year.
America's top CEOs earn less than successful Gen Zs. According to The Wall Street Journal, the median pay for CEOs of S&P 500 companies was $13.4 million in 2020.
Today's environment is ripe for entrepreneurs, regardless of a founder's age. For example, inexpensive technologies like social media and online marketplaces give founders multiple pathways to potential customers.
The best time to start a business is now, because three Gen Z entrepreneurs have done it.
According to the US Bureau of Labor Statistics, 20% of US small businesses fail in the first year. The US Bureau of Labor Statistics says there were over 10 million job openings at the end of November.
It is possible for a founder to return to school and start a new business. According to documents verified by Insider, she made six figures in revenue in her first year of business.
She closed her accounts because her relationship with social media turned toxic. In order to focus on her mental health, she took a step back from the business.
"Social media made it possible for me to take a year off of school, find a warm and wonderful audience for my art, and do what I love full time," she stated.
Many people sought ways to make extra money when they returned to their jobs after the Pandemic. The combination of virtual talent, available digital tools, and low startup costs made for a ripe environment for entrepreneurs.
The factors helped start her business. After she was sent home from her junior year of college in March 2020 she needed to make money. At the end of 2020, she launched her startup. Insider verified that she made $170,000 in revenue in 2011.
Some of the most successful new ventures include copywriting, social media management, and virtual assisting. The skills needed for these businesses are due to their social media literacy, as well as their ability to adapt to virtual school.
The reason that I have the life that I have right now is because of Covid-19. It's the only way to fit running a business into a full time school schedule.
Gen Z entrepreneurs have the ability to attract talent who are eager to work for companies that align with work-life balance values.
The way Gen Z is treating mental health and well-being is different.
The founder of Simplify, a job search platform, says mental health support is important for his employees. One-on-one conversations with his staff are offered.
Gen Z will be able to change policy and culture in a way that will affect older generations.
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