As a member of Generation Z, I can’t help but feel a sense of pride and excitement about the unique ways my generation is making its mark on the world. We’ve been called digital natives, screenagers, and many other names. However, in many ways, what truly defines us is our unwavering commitment to social and environmental causes. It’s a commitment that has seamlessly blended with our entrepreneurial spirit. And it’s shaping a new era of conscious business practices and innovation. In this blog post, I want to explore Generation Z impact entrepreneurs. How we are driving change through entrepreneurship while placing social and environmental causes at the heart of our endeavors.
Our generation is not only passionate about these issues, but we’re also backing up our beliefs with actions. According to a report by McKinsey, a staggering 84% of Gen Z consumers believe that companies should support social and environmental issues.1 This means that the demand for socially responsible businesses is higher than ever before.
The Rise of Generation Z Entrepreneurs
Generation Z grew up in an era of rapid technological advancement and global interconnectedness. We witnessed firsthand the consequences of climate change, economic inequality, and social injustices. Rather than standing idly by, many of us have chosen to become catalysts for positive change.
But it’s not just talk; it’s action. According to a study by Deloitte, a remarkable 80% of Gen Z individuals believe that business success should be measured by more than just financial performance.2 We’re not content with profit for profit’s sake; we want our businesses to make a meaningful impact on the world.
Social Entrepreneurship: Profit with a Purpose
Social entrepreneurship is at the forefront of our generation’s business ethos. We believe that businesses should prioritize making a positive impact on society alongside generating profits. From startups that provide clean water solutions to communities in need to companies that combat food waste by redistributing surplus food, Generation Z entrepreneurs are pioneering solutions to some of the world’s most pressing issues.
The statistics back this up. The Global Entrepreneurship Monitor (GEM) reported that among young entrepreneurs, Gen Z individuals are more likely to start businesses with a social or environmental mission compared to previous generations.3 This means that our generation is actively choosing entrepreneurship as a means to drive positive change.
Environmental Stewardship: Sustainable Solutions
Our generation has witnessed the alarming consequences of environmental degradation, from melting polar ice caps to devastating wildfires and hurricanes. We refuse to accept the status quo and are committed to reversing these trends.
Sustainability is a core tenet of our entrepreneurial ventures. A report by BCG found that Gen Z consumers are more likely than other generations to choose products and services that align with their values, including environmental sustainability.4 This demonstrates that our commitment to sustainability goes beyond rhetoric; it influences our consumer choices and business decisions.
Embracing Technology: The Power of Digital Activism
Our digital upbringing has given us a unique advantage in spreading awareness and mobilizing support for our causes. Social media platforms, crowdfunding, and online communities have become our tools for activism and advocacy. We use them to amplify our voices, connect with like-minded individuals, and raise funds for our ventures.
According to a report by Pew Research Center, 85% of Gen Z individuals use social media to stay informed about current events, including social and environmental issues.5 Furthermore, a study by DoSomething Strategic found that 71% of Gen Z individuals have taken action on social media to support a cause they care about.6 This demonstrates how our generation leverages technology to drive real change and engage in digital activism.
Conclusion
Generation Z is ushering in a new era of entrepreneurship that prioritizes social and environmental causes. With this purpose in mind, we refuse to accept the world as it is. We are actively shaping a future that aligns with our values. Therefore, social entrepreneurship and environmental stewardship are not just buzzwords for us. They are guiding principles that fuel our innovative spirit.
Generation Z is continuing to come of age and take the reins of the global economy. I am confident that our commitment to social and environmental causes will only grow stronger. We are a generation defined by purpose. Consequently, Generation Z impact entrepreneurs we are paving the way for a more sustainable, equitable, and compassionate world. The research and statistics speak volumes about our generation’s dedication to positive change. As a result, the future looks brighter.
You can read the article of my interview with Jeremy Beer from AmPhil for a real-life example of a company founded on an unwavering commitment to a meaningful mission (linked here).
- McKinsey & Company. “True Gen: Generation Z and its Implications for Companies.” McKinsey & Company, 2018. ↩︎
- Deloitte. “The Deloitte Global Millennial Survey 2019.” Deloitte, 2019. ↩︎
- Global Entrepreneurship Monitor (GEM). “Global Entrepreneurship Monitor 2020/2021 Global Report.” GEM, 2021. ↩︎
- Boston Consulting Group (BCG). “How Gen Z’s Values Are Shaping Their Sustainable Consumption Habits.” BCG, 2019. ↩︎
- Pew Research Center. “Most U.S. Teens See Anxiety and Depression as a Major Problem Among Their Peers.” Pew Research Center, 2019. ↩︎
- DoSomething Strategic. “2020 Empower Youth Voices Report.” DoSomething Strategic, 2020. ↩︎