More young adults than ever are turning business ideas into reality.
In fact, half of Gen Z have already launched a venture, whether that's a side hustle, freelance project, or fully established company.
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New research of 2,000 adults found people aged between 18 and 29 are the most entrepreneurial generation, comfortably outpacing their older counterparts.
The biggest attraction?
Flexibility. Many young founders said the freedom that comes with being their own boss was the driving force behind taking the plunge.
Meanwhile, 18 percent were motivated by a lifelong ambition, while 12 percent wanted to create businesses that could make a positive environmental impact.
While younger adults are embracing entrepreneurship, older generations appear more cautious. Just 29 percent of Baby Boomers and 26 percent of Gen X respondents said they had started their own business.
For many Boomers, fear remains a major barrier. A quarter admitted they are reluctant to leave their comfort zone behind and take the risk of working for themselves.
"Businesses can begin anywhere"
The findings were commissioned by AXA UK as part of its annual Startup Angel competition, which offers aspiring entrepreneurs funding and mentoring to help turn promising ideas into successful companies.
Mike Crane, Managing Director at AXA Insurance UK – Commercial, said: "Running your own business can be tough so it's great to see so many young people are willing to take the leap.
"Giving up a stable income for the unknown is perhaps more challenging when you're further along your career journey but there's no age limit to coming up with a winning idea.
"To highlight this, we took a kitchen table onto the streets of London to demonstrate that successful businesses can begin absolutely anywhere."
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