Michael Wagner in Yahoo! Finance and GOBankingRates: Why Gen Zers Are the Most Entrepreneurial
Amidst rapid technological advancements and a changing economic landscape, Gen Z has emerged as the trailblazing generation for entrepreneurship. In fact, surpassing all other age groups, a recent GOBankingRates survey found that 51% of 18- to 24-year-olds aspire to start their own businesses and 14% have already made this dream a reality. To discover the potential reasons behind Gen Z’s entrepreneurial spirit and what this may mean for the economy, Yahoo! Finance and GOBankingRates turned to Michael Wagner, co-founder and chief operating officer of Omnia Family Wealth, for insight.
“It is easier than ever to start a business right now,” Wagner tells the publications. “New technology like AI means that we don’t need as many people working [at] our companies, and having these barriers come down makes it easier for Gen Z to start their own businesses.”
While technology certainly has helped break down barriers for aspiring young entrepreneurs, Gen Z also has the upper hand of understanding the latest technological trends. “Having grown up in a digital world, they are tech-savvy, comfortable with digital communication and e-commerce and naturally inclined to leverage technology to start and grow businesses,” explains Wagner.
Looking ahead, Gen Z’s aspirations for to become entrepreneurs is poised to reshape the future workforce by creating careers that are both aligned with their values and will possibly lead to significant financial rewards.
“My (entrepreneur) clients didn’t get to where they are by working for someone else,” says Wagner. “Our capitalist system is set up to favor capital over labor. So, if you want to become a client someday, the best way to do it is probably to start your own business. Investing in yourself is where you’ll make real returns.”