GenZ’s Entrepreneurial Spirit A Reaction To The Great Recession

Espousing the same entrepreneurial spirit of millennials, albeit a bit more cautious, Gen Z marks the generation born from 1996-present. Raised during the Great Recession and being witness to the student loan crisis, these young people plan on building a future for themselves in their own way, avoiding the mistakes of previous generations.

In 2017, 44 million Americans had a student loan debt totaling $1.4 trillion, and this is a demographic that Gen Zers don’t plan on joining. Combatting the rising tuition demands head-on, Gen Z isn’t afraid to work toward their goals by scrimping and saving. By age 10, 21% of Gen Zers already have a savings account and use their forward thinking to put themselves ahead of the curve. After college, nearly half of Gen Zers plan to become entrepreneurs and are willing to give it their all to build themselves the future they want, not the future someone else wants for them.

Among Gen Zers, 70% believe that student loan debt will make it harder for them to save in the future; it’s this attitude that contributes to the ingenuity and innovation of their futures. For more on the growing Gen Z generation, this infographic details their unique outlooks and entrepreneurial goals that set them apart from older generations.

Gen-Z Entrepreneurship
Source: Online Schools Center

Brian Wallace is the Founder and President of NowSourcing , an industry leading infographic design agency based in Louisville, KY and Cincinnati, OH which works with companies that range from startups to Fortune 500s. Brian also runs #LinkedInLocal events nationwide, hosts the Next Action Podcast , and has been named a Google Small Business Advisor for 2016-2018.