The survey, which questioned over 1,000 Gen Z individuals in the UK, finds that 58% of respondents would rather run their own business than work in conventional part-time roles such as those in retail or hospitality. This preference is driven largely by financial concerns, with 69% of Gen Z citing financial security as a top priority amid the ongoing cost-of-living crisis.
The research highlights a burgeoning entrepreneurial spirit among young Brits. According to GoDaddy, 29% of Gen Z already manage their own business or side hustle, while half of those surveyed plan to start one in the near future. Remarkably, 77% of young Brits are willing to sacrifice an average of 24% of their salary to pursue a business they are passionate about.
This entrepreneurial drive is complemented by a high degree of technological adeptness. Over half (51%) of young entrepreneurs have utilised artificial intelligence tools, such as ChatGPT, to assist in launching and expanding their ventures. This is in contrast to just over a third (35%) of entrepreneurs across all age groups who have adopted similar technologies.
Omar Meho, a 26-year-old entrepreneur and GoDaddy customer, exemplifies this shift. Meho runs Music Workflow Academy, an online platform offering training in music production and DJ skills. Meho’s success story underscores the financial and personal benefits of entrepreneurship compared to traditional employment. “In my late teens, I could have opted for a job at a local pub or supermarket. However, those roles seem less appealing today due to lower wages and inconvenient hours,” Meho explains. “Running my own business has been incredibly rewarding. We now have over 100,000 students across 170 countries, and my income significantly surpasses what I could have earned through conventional employment.”
Andrew Gradon, Head of GoDaddy UK & Ireland, observes that the ease of starting a side hustle has contributed to the rise in young entrepreneurs. “It’s inspiring to see how Gen Z is embracing entrepreneurship and moving away from traditional income sources,” Gradon says. “At GoDaddy, we are dedicated to supporting these everyday entrepreneurs with the tools and resources they need to succeed.”
As the landscape of work continues to evolve, the rise of side hustles among Gen Z highlights a broader shift in how young people are navigating their careers and financial futures. The trend suggests that traditional part-time jobs may become less common as more young Brits seek out opportunities to build and manage their own enterprises.