Aspiring Gen Z entrepreneurs are finding a unique yet old-fashioned path to business ownership.
Specifically, an increasing amount of Gen Zers are turning to trade schools instead of four-year colleges. These programs are seen as practical and lucrative, with a clear path to entrepreneurship.
These programs provide a well-paying career path with an average base salary of $73,307. But while it’s certainly possible to obtain traditional employment with a background in the skilled trades, there’s also a high demand for independent plumbers, electricians, and similar professionals in communities around the country, providing a clear path for people with these skills to start their own businesses.
In fact, half of Gen Z are interested in starting their own businesses, rather than pursuing traditional careers, according to a report from Samsung and Morning Consult. The survey, “The Rise of Gen Z and the Future of Work,” which includes responses from more than 1,000 Gen Zers aged 16 to 25, found that many in this generation are disillusioned with the corporate world.
In addition, 58 percent of respondents said they anticipate major changes to the workforce due to advancements in AI technology. Since skilled trades are seen as largely AI-proof, this is yet another attractive quality of this line of work.
All of these changes are happening while the cost of college in the U.S. has more than doubled since 2000, according to the Education Data Initiative. And 68 percent of Gen Zers that took part in a survey with New America agreed that it’s possible to get a well-paying, stable job with some technical education or college, but no certificate or degree.
Mike Rowe, host of “How America Works” stated on a recent appearance on One Nation with Brian Kilmeade, “They’re just saying, ‘Look, why do I want to start a career in a major I haven’t even declared yet and go that far into debt to pursue a job that probably doesn’t even exist, when we got 10,000 other jobs over here… that don’t require a four-year degree?’”
The benefits of this path are clear, both for those just entering the workforce and anyone looking to start a business in the future. Whether you’re looking at trade schools or another path, it’s always important to consider the long term outlook of your industry and any associated costs that go into each potential route. Gen Z certainly seems to be doing this as they consider how to enter the workforce in the coming years.
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