Gen Z Canadians redefine entrepreneurship through side hustles and tech
Both studies converge on a significant structural trend, that young Canadians are increasingly building businesses alongside, rather than instead of, traditional employment.
The side hustle is now a business strategy
According to RBC’s poll, 46 per cent of Gen Z business owners are operating a side hustle while also working a full-time job. A further 32 per cent of Gen Z Canadians who do not yet own a business aspire to start a side hustle. This dual-income model reflects both the economic pressures this generation faces and their preference for financial flexibility over all-in risk.
“Small businesses are the backbone of Canada’s economy, and the next generation of entrepreneurs will help shape its future,” said Amy Childs, Vice President, Small Business and Partnerships, RBC. “Gen Z is showing that business ownership doesn’t have to follow a traditional path, with success increasingly defined by flexibility, financial stability and independence.”
The RBC data also shows how Gen Z defines success differently from prior generations. Forty-two per cent of Gen Z Canadians associate entrepreneurial success with being able to support themselves or their family, and 35 per cent link it to building long-term wealth. Autonomy and passion-driven income also rank highly: 33 per cent want to be their own boss, and 31 per cent want to turn a passion into income.
More traditional markers such as scaling a company are less prominent, with only 27 per cent pointing to business growth as their primary benchmark for success.
