A new survey conducted by The Harris Poll on behalf of The Entrepreneur’s Source, the nation’s leading career ownership coaching organization, reveals that many Americans see business ownership as the key to futureproofing their careers. According to The Entrepreneur’s Source Generational Career Confidence Survey, 83% of Americans view owning a business as a viable alternative to traditional jobs, citing greater career control than a traditional job (80%) and improved job security over working for someone else (66%). Additionally, 61% believe business ownership is the best way to protect against AI making their career obsolete, while 69% see it as a defense against ageism in the workplace. Among parents, 64% consider financially helping their child’s business a smarter investment than paying for a costly college education in the AI era, and 69% say supporting their child’s business aspirations is more important than helping them fund other life events such as weddings or home purchases.
The survey also revealed these key findings:
- Entrepreneurship and opportunity: 70% of Americans believe business ownership offers greater opportunities, such as career stability and financial growth, than traditional jobs in today’s economy, with younger generations more optimistic: Millennials (ages 29-44) 79%; Gen Z (ages 18-28) 73%; Gen X (ages 45-60) 71%; versus Baby Boomers (ages 61-79) 60%.
- Two-thirds of Americans (67%) would be willing—or would have been willing—to skip a big wedding to use those funds to start a business.
- Ageism and employment choices: More than two-thirds of Americans say business ownership is the best protection against ageism (69%), especially Millennials (76%), compared with 67% of Gen Z, 69% of Gen X and 63% of Baby Boomers.
- Yet fear of age discrimination still influences career decisions: 60% of employees would job-hunt rather than start a business if they lost their role due to age bias; 49% stay in unsatisfying jobs because of that fear.
- AI-related disruption: 61% of Americans, particularly Gen Z (68%), Millennials (71%) and Gen X (60%), believe business ownership is the key to thriving in an AI-driven world.
- Still, 61% of employees say they would search for a new job rather than start a business if AI made their current role obsolete.
- Parental views: Three in four parents (75%) value an entrepreneurial mindset for their child, regardless of career path.
- More than four in five parents (83%) believe financially supporting their child’s business would be a good investment in their long-term financial security.
- Millennial (78%) and Gen X (73%) parents are more likely to feel financially supporting their children’s aspirations to own a business is more important than helping them fund other things, such as a wedding or home, compared with Gen Z (60%) and Baby Boomer (60%) parents.
While the study finds Americans have a strong belief in business ownership as a path to career security, some may feel unsure how to move from interest to action on their own.
“Americans are recognizing business ownership as a proactive strategy for career stability, particularly parents and younger generations worried about traditional professions becoming obsolete in the future, but it could be they simply don’t know where to begin,” said Marissa Frois, CEO of The Entrepreneur’s Source. “Career ownership coaches can help people explore their options and figure out what’s next, whether that’s franchising, starting a business or pursuing another career path. They guide individuals through the process, helping them move from uncertainty to confidently taking control of their future, without having to figure it out alone.”
For more information about The Entrepreneur’s Source Generational Career Confidence Survey, click entrepreneurssource.com/tes-generational-career-confidence-survey/. Those interested in exploring business ownership can visit EntrepreneursSource.com.
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