Tech giant Microsoft has find Gen Z entrepreneurs disrupting ideas about workplace hustle and the traditional 9-5 day, media reports say.
According to CNBC, many recent Gen Z college graduates are flipping the career paradigm and pursuing entrepreneurship rather than entering the corporate world.
“We have seen a lot of reimagination during the pandemic and a lot of digital transformation, which I think really has propelled what we see as a bit of a boom in entrepreneurship,” Travis Walter, vice president of retail at Microsoft Store, was quoted as saying.
Almost two-thirds (62 per cent) of Gen Z have indicated they have started, or intend to start, their own business, according to data from WP Engine and the Centre for Generational Kinetics.
Meanwhile, in 2021 alone, 5.4 million Americans submitted applications to start their own business, according to government data.
The traditional idea of “hustle culture” has evolved over the years, and while the grind Gen Z puts in looks slightly different than millennials, it does not mean they are doing any less work, the report said.
Instead, these entrepreneurs wear multiple hats with flexible work schedules, working vacations and more consideration for personal time.
Nearly half of Gen Z, about 48 per cent, have numerous side hustles, compared to 34 per cent of small business owners, according to Microsoft’s survey, conducted by Wakefield Research across 1,000 small business owners with less than 25 employees.
Many of these businesses overlap with the rise in social media marketing.
Entrepreneurs who use TikTok for their business (48 per cent) are almost twice as likely to have multiple side hustles as those who do not (27 per cent), according to Microsoft data.