Younger Canadians are leaning towards chucking the traditional ‘get a job’ routine for one where they create a job.
A new report prepared by TD Bank finds that a large majority – 73-prcent of Gen Z residents – find the idea of starting or owning their business an appealing concept.
The largest percentage – roughly one-third of those surveyed – see it as an avenue towards financial independence. Another 30-percent view business ownership as a mechanism for delivering the freedom to work on their own terms. And frustration with traditional work structures is the driver for a further 20-percent.
They also like the idea of turning a passion into a way to make a living.
On the downside, three-quarters of them have fears of failing as business owners, largely because they have no experience in the role. The majority believe having a mentor would be critical to success.
Start-up capital also poses a challenge for the younger generation but when deciding on the sector they’d prefer to operate in, the most common answer was in the digital realm of e-commerce and content creation.
