Nearly three in four (72 percent) of Gen Z business owners believe that their generation has had the fewest economic opportunities given the COVID-19 pandemic, inflation and concerns of the recession.
“Our report found that being a business owner isn’t just a side hustle to Gen Z entrepreneurs,” said Roshan Jhunja, general manager of retail at Square. “The majority plan to continue their business while also starting additional ventures. This means they’ll be looking for a business solutions provider that fits a broad range of needs into the future, not just one that works in the now.”
“Gen Z are digital natives, but we were surprised to find their business launches were not exclusively online,” said Jhunja. “Almost half of Gen Z businesses started with a physical component. Businesses that are omnichannel from the outset are better able to compete by engaging consumers across all channels, helping themselves stand out from the masses that are online-only.”
To aid Gen Z entrepreneurs in moving the needle forward with their businesses, Square has adapted its services to provide the necessary technology tools for the next wave of business expansion and ease their workload burden. 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 also addicted to making people feel good about themselves and I get so much joy out of knowing I’m helping my community of clients. I never got into this industry for money because I believe that when you’re focused on your passions, money will follow.
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