Our new research reveals Gen Z as Britain’s most entrepreneurial generation

Our new research shows Gen Z are the most entrepreneurial generation yet! We surveyed 2,004 UK workers and found a growing ambition among young people to break away from traditional employment structures in favour of entrepreneurship. Over two thirds (73%) of those aged 16-24 said they would be open to starting their own business, while less than half (45%) of those aged 45-54 years said the same.

What are the key motivations for setting up a business?

The top five motivations for starting a business included the potential to make more money (39%), followed by better work-life balance (30%) and having flexible hours (28%). Additionally, 26% cited the desire for greater control, while 20% said they sought more fulfilment in their careers.

Flexible working was further emphasised as a driving force behind this shift towards entrepreneurship, with two thirds (66%) of all respondents stating they would invest in setting up their own business if it offered more flexibility and freedom. Looking at generational differences, 79% of Gen Z respondents and 78% of Millennials (25-34 year olds), said they would consider self-employment for the flexibility it provides, compared to just 41% of those aged 55 and over.

Interestingly, over two thirds (70%) of respondents believe that flexible working helps develop key entrepreneurial skills, such as problem-solving, time management, independence, autonomy, innovation, and self-motivation.

What’s holding people back?

Despite this, some barriers remain to pursuing entrepreneurship. Lack of finance was a key barrier for nearly half of respondents (48%), while fear of failure was a top concern for nearly a third (31%) of individuals looking to start their own business. A further 28% stated a lack of confidence in their abilities was holding them back. A lack of infrastructure and support (17%) and professional networks (17%) were also revealed as other key factors.

How we champion entrepreneurship

Matt Harding, Director of Franchise Sales at Travel Counsellors says: “The findings underscore a fundamental shift in how younger generations view work. With 73% of 16-24-year-old workers considering entrepreneurship and clear shifts in working patterns to prioritise flexibility, it is clear that traditional employment structures are being challenged. However, to turn ambition into reality, aspiring entrepreneurs need access to resources, mentorship, and confidence-building initiatives that address their concerns about failure and business skills.

“At Travel Counsellors, we champion smarter working, enabling business owners to thrive by running their businesses in a way that suits them, with limitless potential. Our franchise model is tailored to each individual's experience and entry route, offering flexible start-up costs while equipping ambitious travel entrepreneurs with cutting-edge tools, expert support, and a global community to help them on their journey with us.”

We’re also making entrepreneurship more accessible to young people by running our Academy Scholarship for the third consecutive year, where we’re gifting up to 20 ambitious young people a place on our Travel Academy training programme – each worth £5k.

Whether you’re looking to take your first step into the world of business ownership, or are a seasoned entrepreneur looking to pivot into the travel industry, our inclusive community welcomes people from all backgrounds. If you’ve got a genuine passion for travel and a customer-first approach, we’d love to welcome you into our thriving community of independent business owners. To get a better feel for what we're all about, book onto one of our relaxed Discovery events or sign up for our very special webinar series with Sara Davies.