One out of every five young adults is saving for their own business.
Have you ever wished to start your own company by telling your boss to "shove it"? Except for the "shove it" portion, there has been a significant increase in the number of Millennials and Gen Zs who are saving to do just that.
The idea of starting your firm has a romantic appeal to it.
You know, building a small cafe or bar in a back alley, attracting a loyal following of happy locals, and waxing poetic with them into the early hours of the morning.
The reality of running a business, as any small business owner will attest, is very, very different.
However, this will not deter our next-gen!
For the country’s Millennials and Gen Zs, one thing is certain: they’re a business-minded lot who won’t let a once-in-a-century epidemic stand in the way of their dreams.
In a study of young Australians without children conducted by ME Bank, 18% responded that “investing in their own business” as their current financial aim.
That’s a big jump from just 4% a year ago!
To put that into perspective, the top response was “paying off a mortgage” with 34% of respondents, while 19% wanted to “save enough to buy a home to live in” with 34%.
So, we’re not that far behind the top two!
Get in touch if you need help supporting your dream.
Many young Australians are unaware that starting a business does not require a lot of money upfront.
Finance and funding choices to help you expedite your launch aren’t as terrifying as you would think (5 out of every 6 firms find it easy to repay their company loans).
So get in touch with us today if starting your own business or seeking to buy your first home is your financial priority in 2022. We’d love to assist you in taking that first step.
To learn more, contact Premium Finance Group Australia at (07) 4720 8888 or email us at email@example.com
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