Why solopreneurs are on the rise: Gen Z

In recent years, solopreneurship has been on the rise among Generation Z. These new one-person companies have been reshaping the business landscape by challenging traditional business models, paving the way for innovative approaches to entrepreneurship.

What’s Gen Z?

Generation Z, or Gen Z, refers to individuals born between the mid-1990s and early 2010s. This generation has grown up in a highly connected and technologically advanced world, which has shaped their values and perspectives.

Why this generation?

Unlike previous generations, Gen Z solopreneurs prioritize meaningful work over traditional career paths, seeking opportunities to create their own destinies. With access to vast amounts of information and resources online, they’re empowered to turn their passions and skills into viable businesses with minimal overhead costs.

The gig economy, which encompasses freelance, side-hustle and remote work, has further fuelled the rise of Gen Z solopreneurs, blurring the lines between work and personal life. This shift has made entrepreneurship an increasingly attractive option for this generation, as they value the ability to work from anywhere, set their own schedules and pursue multiple interests simultaneously.

As Gen Z continues to redefine the business landscape, their entrepreneurial endeavours promise to profoundly shape the future of work. During BDC Small Business WeekTM, which will take place from October 20 to 26, 2024, take the time to support these young entrepreneurs and their innovative business approaches.