Many people who are a part of Gen Z are starting to create small businesses or side hustles to earn extra money. Some people are creating jewelry businesses, while others sell their old clothes, or things they find at the thrift store. With the help of social media and online marketplaces, it has become much easier for younger people to start making their own money simply from their hobbies or skills. Platforms like Instagram, TikTok, Depop, etc. allow for people to promote and sell certain items, and reach people from all over the world. Because of this, many Gen Z teens as well as young adults are turning simple ideas into real ways to make money.
One of the biggest reasons that Gen Z is so interested in side hustles is due to the rising cost of living. Many young people are already thinking so far ahead in their lives. Expenses like buying a car, paying off college tuition, debt, or even just being able to become financially stable, and not have to worry about someone else having to provide for you, are all reasons as to why so many young people are becoming entrepreneurs. Having a small business can really help earn some extra money on the side, instead of relying on a part-time job to provide for you. Some people sell handmade jewelry, custom or thrifted clothing, or art online. There are also people who make money online by being a personal photographer, editing videos, or managing social media pages.
Social media has played a huge role in helping the trend of small businesses grow. Before 2020, when having a small business wasn’t as popular, creating a small business was a lot of work. It required a lot of extra money, as well as having to create a website, and having to secure your own domain name. In the current era, someone can start their own business by simply making a post about their product online. On platforms like TikTok or Instagram, a short and simple video is able to reach thousands or even millions of viewers. With the power of social media, it makes it possible for small unknown creators to gain customers without having to spend money on advertising.
Small businesses don’t make money straight from the start. It comes with lots of challenges like creating a website, funding the business, or even getting publicity in the first place. It takes a lot of time and commitment. It can be especially hard for students who have to balance an academic workload, and can be more difficult if they participate in a sport on the side. Lately, it’s also difficult to compete online because it has become such a trend on social media to create a small business, and now it’s much more common, which means it’s less likely for someone to buy from you.
Those who chose to face the challenges and not give up are the ones who make it as successful entrepreneurs. The trends of all these small businesses just show how motivated Gen Z is to get an early start on money making, and be able to make it in life. Many young people who have created their own small businesses are able to get ahead and start learning important skills like marketing, budgeting, and communication. These early on experiences will be able to boost their careers in the future, or even inspire them to create their own large companies later on in life. The rise of small businesses shows that this generation is able to do their own things, try new ideas, and set an early path for their futures.
