young aussies

Young Aussies becoming business owners

Young Aussies are starting to realise that you don’t have to bootstrap your way into starting up a business.

If you’ve ever dreamt about starting your own business, now might be a perfect time.

We’ve recently seen a big jump in Millennials and Gen Zs who are saving up and showing us how it’s done.

And it does sound nice! However, as any small business owner will attest, the realities of running a business are very, very different.

That won’t stop our next-gen though! Say one thing for the Millennials and Gen Zs of the country, and that is that they’re an entrepreneurial bunch who won’t let something like a once-in-century-pandemic get in the way of their business aspirations.

According to a ME Bank survey of young Aussies with no children, 18% stated their current financial goal was “investing in their own business”.

To put that into a bit of perspective – compared to some of the other 15 options they could choose from – the top response was “paying off a mortgage” at 34%, while 19% of respondents were aiming to “save enough to buy a property to live in”.

So, not far behind the top two responses at all!

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice.

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