New research by Junior Achievement USA and EY shows that teens are inspired to start their own businesses by social media influencers and successful businesspeople they see in the media.
In a survey of 1,003 13 to 17-year-olds across the US, three in four (76%) would be likely to consider becoming an entrepreneur.
In terms of what kind of business teens are interested in starting, 16% said “social media influencer/content creator” and 14% said “a retail shop or store”.
However, while starting a business is attractive to teens, many expressed concerns, with almost one in three (30%) saying it was too risky. Around a quarter (23%) said there wasn’t enough money in it, while 11% thought it might not fit their personality or skills.
Junior Achievement USA president and CEO Jack E Kosakowski commented: “Social media influencers and celebrity culture have a big impact on teens. This could help explain why we are seeing such a high level of interest in entrepreneurship.”
Another reason for members of Gen Z wanting to have their own businesses could be their perceived lack of control over their personal finances. Almost three out of four Gen Z-ers say they’ve changed their spending habits in 2023 due to rising prices.
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For National Entrepreneur Month in November 2023, Junior Achievement and EY are offering high school students educational experiences built around the theme of entrepreneurship to create a point of entry for students, volunteers and educators across the US.