Wells Fargo Study Finds 70% of Gen Z Prioritize Business Ownership
A Wells Fargo study finds nearly 70% of Gen Z regard business ownership as central to the American dream, driven by gig economy experience and desire for financial control. The survey also highlights entrepreneurs’ risks of personal-credit leverage, asset commingling and potential mortgage collateral use.
1. Survey Findings
A Wells Fargo private wealth study shows nearly 70% of Gen Z see business ownership as core to the American dream, marking a significant generational shift toward entrepreneurship.
2. Entrepreneurship Drivers
Gen Z’s gig economy background fosters early entrepreneurial habits, fueling their desire for saving, investing and emotional satisfaction from financial autonomy.
3. Entrepreneurial Risks
Respondents cited risks including commingled personal and business assets, reliance on personal credit and potential use of homes as collateral.
4. Implications for Wells Fargo
The trend could drive demand for small-business loans and wealth planning services tailored to younger entrepreneurs, offering new revenue opportunities.