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Writer's pictureAli Beba

Gen Z and Millennial Generations are More Likely to Be Entrepreneurs

SWNS Media Company published an article in August 2024 summarizing the results of a survey on the rise of entrepreneurship in younger generations.


According to the article, a market research company, Talker Research, who has members from the Market Research Society (MRS) and the European Society for Opinion and Marketing Research (ESOMAR), conducted a survey on entrepreneurship versus generations in 12 different countries with 10,000 respondents in the summer of 2024.


The results of the survey showed that younger generations DO consider themselves more entrepreneurial than their parents and grandparents. 40% of Gen Z and 41% of the millennial population agreed on that. In this same survey only 31% of Gen X and 19% of baby boomer respondents would consider themselves as entrepreneurs. (Source: SWNS / Herbalife Survey)


One basic qualification of entrepreneurs is their level of optimism. And, here again, almost 2/3rd of Gen Z (69%) and 63% of millennial respondents were highly optimistic for the entrepreneurial activities. This compared rather high to Gen X (50%) and 35% for the baby boomers generation.

These results indicate that entrepreneurship is on the rise all around the globe and is accepted to be "a new profession" especially by the younger generations.


With AI now being quickly immersed in every aspect of our lives, I am sure that we will keep witnessing more and more new and high technology products and services produced by Gen Z and the Millennial population as we enter into 2025.

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grosser
Dec 10

I don't think that this is a correct interpretation of the older generations. There is no doubt that people become more conservative (less entrepreneurial) as they get older, in general. So that aspect of the study is logical. But the real question should be: how entrepreneurial were the Baby Boomers and Gen X when they were in their 20s and 30s? That would be comparable to the younger generations today. And I believe from personal observation that younger people were just as entrepreneurial 40 or 50 years ago as younger people are today.

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