7 in 10 young adults want to start their own business

Seven in 10 young adults claim working for someone else is their ‘worst nightmare’ – and intend to start their own business within the next three years.

A poll of 2,000 adults from a spectrum of age groups found 23 per cent of 18 to 24-year-olds ‘hate’ the idea of the traditional nine to five.

With 23 per cent so far frustrated in their attempts to find an employer which meets their needs – including the chance to be creative, the option of remote working, and flexible working hours.

Perhaps as a result, 49 per cent of Gen Z adults want to start their own company – with handcrafted goods, opening a restaurant or café, and sustainable beauty products the most popular options.

The study commissioned by Adobe also found 27 per cent of young adults who’d consider starting their own business believe their creativity would be ‘limited’ by working a traditional nine-to-five role.

As such, 40 per cent revealed flexible working hours would be on the list of non-negotiable criteria for their ideal job.

While 30 per cent would demand a salary which ‘suits their lifestyle.’

And workplace non-negotiables such as these appear to be fuelling their desire to fly solo – 45 per cent said they have their own ‘innovative’ ideas for their own venture.

Further to this, 52 per cent of Gen Z adults already have a side hustle and nearly half (47 per cent) would prefer to ‘do it themselves’ when starting a business, rather than hiring experts in each field to do a job for them.

In fact, 55 per cent say they would design their own branded materials, which was almost 20 per cent more than any other age group.

Concerning their entrepreneurial intentions, 28 per cent of 18 to 24-year-olds would want to create a product or service which drives change.

The same proportion would also like their business to influence society in a positive way, according to the OnePoll.com data.

When it comes to confidence in their possible venture, 45 per cent of Gen Z adults think they’d be successful – compared to 24 per cent of Millennials and 13 per cent of Gen X adults.

But despite having belief in their abilities, 45 per cent of 18 to 24 year olds wish they were better at motivating themselves to keep going when the chips are down.

Following these findings, Adobe has partnered with winner of 2022’s The Apprentice, Harpreet Kaur, to inspire young adults to stay motivated using Adobe Express.

Harpreet Kaur said: “I threw myself into the deep end when it came to knowing how to do it, but having that self-belief is what kept me going.”

“The future for start-ups is so bright and I’m so pleased to see so many of this next generation already on that journey to making it on their own, whether it’s the creative ideas they’ve got brewing or side hustles they have in the works.”

Chris Price