THE START-UP GENERATION
It’s safe to say that the power ‘Generation Z’ (those currently aged 8 to 18)) wield is on the rise - it’s impossible to ignore the impact this demographic are having on all aspects of today’s society. Known for their tech savvy skills and hunger for knowledge, this is an age-group who have the internet at their fingertips and are the business masterminds of tomorrow.
Further evidence of this entrepreneurial nature and thirst for success can be seen in a recent poll conducted by iCoolKid – a digital lifestyle brand for 8-15 year olds. The poll has delved into the career aspirations of British kids today, uncovering some of the ways in which ‘Generation Z’ are more entrepreneurial than older generations.
iCoolKid have found that 50 per cent of 8 to 18 year olds aspire to launch their own start-up, with a further 11 per cent stating that they have already begun work to make their entrepreneurial dream a reality prior to reaching adulthood. This strongly contrasts with the 12 per cent of the working age demographic (aged 19-65), who stated they had aspirations to pursue a career as an entrepreneur whilst at school.
When asked which celebrities and/or public figures they admire the most, 27 per cent of the under 18s polled said that Facebook founder, Mark Zuckerberg, was their top choice. Rapper and fashion entrepreneur, Kanye West, scored highly too with 20 per cent of young respondents name-checking him as a great inspiration. US reality star, influencer and beauty mogul, Kylie Jenner, also proved to be popular – with 18 per cent of under 18s polled stating that they would like to emulate the career success Kylie has already enjoyed, at the tender age of 20.
Asked if they feel supported by parents/guardians in their quest to pursue a future career as an entrepreneur, close to three quarters (73 per cent) of 8-18 years olds concluded that the answer was ‘yes’ and further 56 per cent indicated that their school also supports and encourages entrepreneurship. In a stark contrast, only 28 per cent of working age respondents said that they felt encouraged by their parents/guardians to explore entrepreneurship whilst at school. Also only 6 per cent stated that their school ‘really helped to push them’ down this career path.
91 per cent of under 18 respondents highlighted that they believe growing up in the digital world will be an advantage to them when they start their work-life, and has provided them with a source of career inspiration. In agreement with this, 86 per cent of working age respondents said they believe the fact Generation Z are the first to be ‘born social’ is the key reason why they are prepped for start-up success – something that just wasn’t part of life when they were growing up. Carmen Greco, Co-Founder of iCoolKid comments on the survey:
“We are witnessing Generation Z as growing up very engaged with the digital world, allowing them to feel empowered to share their opinions, expand their knowledge, and feel motivated to achieve great things. With this in mind, it’s not surprising to me that a high percentage of under 18s aspire to start their own business – as they’ve witnessed first-hand the advent of social media and seen the huge success that tech savvy, business minded individuals such as Mark Zuckerberg have achieved at a young age.
“It is encouraging to see that Generation Z feel supported by their parents and schools to pursue their entrepreneurial goals. Parents of ‘Gen Z-ers’, such as myself, are in a unique position as our children have been ‘born social’ and have an incredible wealth of information available to them as the result of the world they are growing up in – which is helping to inspire creative thinking and encouraging them to aim higher than ever before”
Jenk Oz, Gen Z-er, CEO and Co-Founder of iCoolKid comments:
“It is great to see that young people feel supported by their parents and schools, as I know that I would not have been able to start iCoolKid without the help of my family. Growing up in the digital age has made it so much easier for me to be more confident and express ideas, so I really hope more kids will take advantage of the internet and social media and try to turn their great ideas into business opportunities!”
The increase in kids interested in setting up their own business, shows just how much widespread technological innovation has impacted modern teenagers and helped them become the power driving generation that they currently are. With more technological updates around the corner and the use of social media widely spreading, we can only imagine this will continue working to their advantage ultimately preparing them for the business future, much earlier on in their life.