Gen Z Redefines Entrepreneurship: Side Hustles and Tech Drive Optimism — Royal Bank of Canada (RBC)

Event summary

46% of Gen Z business owners in Canada operate side hustles alongside full-time jobs.
84% of Gen Z business owners are optimistic about the future of entrepreneurship.
85% of Canadians agree technology has made starting a business more accessible.
32% of Gen Z Canadians aspire to start a side hustle.
High cost of living is the top barrier to entrepreneurship for 42% of Gen Zers.

The big picture

Gen Z is redefining entrepreneurial success, prioritizing financial stability and passion over traditional growth metrics. The rise of side hustles and the accessibility of technology are reshaping the small business landscape in Canada. RBC's poll highlights a generational shift towards flexible, tech-driven business models, reflecting broader trends in the gig economy and digital transformation.

What we're watching

Side Hustle Sustainability: Whether Gen Z entrepreneurs can balance side hustles with full-time jobs without burnout.
Tech Adaptation: The pace at which Gen Z business owners adopt AI and other technologies to stay competitive.
Financial Resilience: How economic uncertainty will continue to shape entrepreneurial ambitions and business models.