Dreamt about starting up your own business? Well, the Millennials and Gen Zs are, and they’re saving up to do just that.

There’s something romantic about the notion of starting your own business.

You know, opening up a hole-in-the-wall cafe or little alleyway bar, growing a loyal band of merry locals, and waxing lyrical with them into the wee hours of the morning.

Of course, 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 Australians with no children, 18% stated their current financial goal was “investing in their own business”.

That’s up from just 4% six months prior!

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. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.