According to a recent poll conducted by Adobe, seven out of ten young adults have stated that working for someone else is their worst nightmare, and they have plans to start their own business within the next three years. The survey, which involved 2,000 adults from various age groups, revealed that 23 percent of individuals aged 18 to 24 dislike the idea of a traditional nine-to-five job.
A significant portion of this age group (23 percent) has been frustrated in their search for an employer who can meet their needs, which include opportunities for creativity, remote work options, and flexible working hours. As a consequence, 49 percent of Generation Z adults expressed a desire to start their own company. Popular choices for entrepreneurial ventures among this group include handcrafted goods, opening a restaurant or café, and creating sustainable beauty products.
The study further highlighted that 27 percent of young adults who are considering starting their own business believe that working a traditional nine-to-five job would limit their creativity. Consequently, 40 percent of respondents identified flexible working hours as a non-negotiable requirement for their ideal job, while 30 percent sought a salary that aligns with their lifestyle.
These workplace preferences, among others, appear to be driving the desire for young adults to become their own bosses. A significant 45 percent of respondents claimed to have their own innovative ideas for a venture. Additionally, 52 percent of Generation Z adults already have a side hustle, and nearly half (47 percent) would prefer to handle all aspects of starting a business themselves rather than hiring experts in various fields.
Interestingly, 55 percent of young adults indicated a willingness to design their own branded materials, a figure significantly higher than any other age group. When it comes to their entrepreneurial intentions, 28 percent of 18 to 24-year-olds expressed a desire to create a product or service that brings about positive change and influences society.
Regarding confidence in their potential ventures, 45 percent of Generation Z adults believe they would be successful, compared to 24 percent of Millennials and 13 percent of Generation X adults. Despite their confidence, 45 percent of 18 to 24-year-olds expressed a wish to improve their self-motivation skills to persevere in challenging times.
In response to these findings, Adobe has teamed up with Harpreet Kaur, the winner of The Apprentice in 2022, to inspire and motivate young adults using Adobe Express. Kaur, in discussing her own journey, emphasized the importance of self-belief and praised the current generation for their creative ideas and side hustles. She expressed excitement about the future of start-ups, believing that the next generation will push boundaries and achieve great things through the embrace of new ideas and technologies.
The study conducted by Adobe sheds light on the aspirations and preferences of young adults, highlighting their inclination towards entrepreneurship and self-employment. With a significant number of them planning to start their own businesses, it will be interesting to see how this generation shapes the future of the business landscape.