New research suggests that Saturday jobs may be a thing of the past, as most young people say they would rather run their own business than work in retail or hospitality.
A survey of Gen Z Brits by GoDaddy has revealed the growing popularity of side hustles among young people. It suggests that traditional part-time work for young people, such as hospitality shifts or Saturday jobs, is no longer appealing.
The results of the poll show that:
- 58% of Gen Z Brits would prefer to run their own business than work in retail or hospitality;
- 29% already have their own business or side hustle;
- 50% have plans to start one.
The key driver appears to be money, as more than two-thirds (69%) of Gen Zs polled said that financial security is the most important factor in a job as they contend with the cost-of-living crisis. However, 77% of young Brits said they would sacrifice 24% of their salary, on average, to run a business they are passionate about.
This community is also showing itself to be increasingly tech-savvy. More than half (51%) have used artificial intelligence (AI) tools such as Chat GPT to help set up and grow their businesses, compared to just over a third (35%) of entrepreneurs of all ages.
Commenting on the findings, Andrew Gradon, head of GoDaddy UK & Ireland, said: "It has never been easier to start a side hustle, and it's brilliant to see the emergence of Gen Z entrepreneurs who are inspired to become their own boss and break away from more traditional sources of income."
What is Gen Z?
Generation Z is the demographic cohort born between 1997 and 2012. Known as digital natives, they were the first social generation to grow up with the internet and smartphones from a young age.
Omar Meho, 26, owner of Music Workflow Academy, an online training centre for music production and DJ skills, has found generating income from his own business more lucrative than a traditional Saturday job.
Omar said: "Like other young people, in my late teens I could have gone out and got a job at a local pub or supermarket. But I think those industries are less appealing now than they've ever been. Not only are the wages usually unattractive, the hours involved are often at weekends or in the evenings - times when we'd rather be out living life.
"Running your own business is different," he added. "I've invested a lot into Music Workflow Academy but it's paid off. We now have over 100,000 students in 170 countries worldwide and we're a multi-award-winning business. Last year, I earned over £50,000 ... That just wouldn't be possible if I'd gone down the 'traditional' employment route."
Written by Rachel Miller.