Entrepreneurial Activity of Generation Z: Motives, Algorithms for Starting a Business

Abstract

Objective: This article aims to assess Generation Z's entrepreneurial activities in the context of ESG principles and their contributions to sustainable development. It investigates how Zoomers' engagement in various sectors aligns with ESG factors and explores the challenges they face in promoting sustainability within the rapidly changing socio-economic landscape. Methods: A qualitative analysis approach is employed to evaluate the ESG aspects of Generation Z's entrepreneurial behaviors and their impact on sustainable development. Scientific works and data revealing the motives that challenge young people to start and run business are analyzed. The study employs methods of systemic, structural, functional and comparative analysis and synthesis, theoretical modelling and forecasting. Results: The reasons why employable young population does not involve into business activities were put under analysis, at the same time popular trends for entrepreneurial activity of youth are highlighted. The analysis is grounded in the scientific, statistical, regulatory, methodological and empirical materials that reveal the motives and algorithm of business management by representatives of Generation Z. Conclusion: Generation Z's entrepreneurial endeavors, rooted in ESG principles, are pivotal drivers of sustainable development. Their steadfast commitment to environmental responsibility, social inclusivity, and effective governance reflects a dynamic force for positive change. However, they face formidable challenges such as competition from digital ecosystems and limited access to financing. To capitalize on their innovative potential and ensure a sustainable future, fostering an ESG-friendly environment and addressing these hurdles is imperative.