The seeds of the next generation of business leaders in Canada are starting to sprout.
The team at BMO Bank of Montreal has created what they call a Real Financial Progress Index. It is designed to track how Canadians, especially younger ones, are doing in setting and achieving personal financial goals.
Their latest report identified an emerging trend among Gen Z and Millennials who are worried about the financial environment these days. They are looking to set up their own side hustle, which is usually the first step on the journey of becoming an entrepreneur or self-employed.
Half of the Millennials they surveyed and nearly as many in the Gen Z cohort were looking for information on how to set up their own side hustle. Even Boomers — roughly one-in-six — were on the same track.
The report also found that one-in-five members of the Gen Z generation are in the process of changing jobs and the largest percentage had already opted for setting up their own enterprise rather than going to work for someone else.
