Majority of Genz aspire of being entrepreneurs: study finds

Gen Z is leading a shift in entrepreneurship, creating businesses that reflect their values and goals. A recent survey by BankBazaar reveals that 85.5% of Gen Z aspires to start their own ventures, with 36% ranking it among their top life goals.

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Gen Z, born between the late 1990s and early 2010s, is embracing entrepreneurship like no generation before. According to BankBazaar’s recent Aspiration Index, this trend is more than a passing phase. The survey, conducted across 1,529 respondents from six metro cities and over 18 Tier II cities, revealed that a remarkable 85.5% of Gen Z aspire to start their own business. For 36% of them, entrepreneurship is one of their most important life goals, with this ambition equally prevalent among men and women. In stark contrast, only 29% of millennials share this entrepreneurial drive, highlighting a generational shift in priorities.

Regional and demographic differences further underscore these aspirations. While basic needs like housing, nutrition, mental health, and education dominate the goals of metro respondents, entrepreneurship emerges as a leading aspiration in non-metro cities. Regionally, the East places significant importance on early retirement, making it their third most important goal. Meanwhile, the North and South prioritize entrepreneurship, ranking it as their first and second top goals, respectively.

This entrepreneurial surge is not just about starting businesses but creating ventures that align with personal values and societal impact. In Bengaluru, for example, a young founder has redefined traditional work norms by launching a sustainable fashion platform, blending independence with a commitment to the environment. Similarly, in Mumbai, an entrepreneur has developed a technology-driven app to tackle urban waste management, turning a common challenge into a scalable solution. These examples showcase how Gen Z is using its comfort with digital tools and innovation to address pressing issues.

Gen Z’s approach to entrepreneurship is rooted in their broader aspirations for purpose and freedom. They see startups as an opportunity to craft careers that reflect their lifestyles and beliefs, rather than adhering to conventional job structures. Their ventures often focus on socially conscious goals, such as eco-friendly packaging and sustainable practices, reflecting a strong sense of responsibility toward the planet and society.

Despite their entrepreneurial zeal, Gen Z balances these ambitions with other personal goals. Many prioritize staying mentally healthy, traveling, owning a home, and saving for their children’s education. This mix of professional ambition and personal well-being reflects a well-rounded approach to life, where business success is intertwined with happiness and fulfillment.

By leveraging technology, embracing innovation, and staying true to their values, Gen Z is reshaping the entrepreneurial landscape. They are proving that for their generation, starting a business is not just about profits but about driving meaningful change and creating a better future.