New businesses formed by Gen Z during the pandemic

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UK businesses formed by Gen Z founders report

Our report delves deeper into the state of Gen Z in the current business landscape and has found that despite the current climate, they are forging their own path to success. For those unaware, Generation Z, is the generation born between mid-late 1990s – early 2010s, and are the first generation to be brought up surrounded by modern technology e.g. smartphones, computers etc.

Sources – Wikipedia  | Pew Research Centre 

Gen Z business data

Over the last 12 months (April 2020 – April 2021) , 56,006 companies were founded by under 24-year-olds, which is 47% of all companies founded by that age group, compared to 320,887 by those in the 24-38 year old category over the same period. The split between Male and Female Gen Z officers is also an interesting find from the report, with Females representing 30.43% of all officers, and Males making up the remaining 69.57%.

Gen Z female stats

Gen Z businesses favour multiple directors

We have focused on research around the number of businesses founded by such a young generation and how this has grown from previous years. Another interesting finding, from the report, was around the number of founding directors for Gen Z businesses. The average number of directors for founding a business across all other age groups is usually one sole director. However, Gen Z seems to prefer the partnership approach, with the data showing that the average number of founding directors was with two people.

Gen Z Founders by gender

There has been a notable swing in terms of the gender distribution in Gen Z founders as well, with 10,669 companies being founded by Females over the last 12-months. It’s clear that the technological native generation, labelled ‘Gen Z’ is showing a much higher percentage of business acumen and aspiring entrepreneurs.

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