New research commissioned by Squarespace shows 68 per cent of Australians want to be their own boss – and more than half would be willing to give up alcohol for a month, or social media for a week, to do so.
The findings, released by the leading all-in-one web publishing tools company, show entrepreneurialism is alive and well, as Squarespace officially launches in Australia.
The inaugural study found that one in two Australian adults (18 to 59 year olds) are either interested in starting their own business or passion project (40 per cent) or have done so already (10 per cent). The results highlight how this ‘independent generation’ is largely motivated by freedom, flexibility and the desire to feel passionate about what they do.
In fact, 78 per cent of Australians believe doing what they love or are passionate about is more important than earning a lot of money, and more than three in five (63 per cent) Millennials have a passion project that they would like to turn into a job or career.
So why aren’t more Australians chasing their entrepreneurial dreams, or pursuing that side hustle? The study also found that Australians are risk-averse, with only 19 per cent associating taking new risks with workforce success. Most Australians are hampered by fears and concerns, largely rooted in the financial costs of failure.
Founder and CEO of Squarespace, Anthony Casalena said: “As an entrepreneur, I’m very familiar with the risks and fears associated with starting a business. In the early years of Squarespace, I was the only employee, acting as the sole engineer, designer, marketer and support representative for the entire platform.”
“Today, it’s easier than ever to start a business and strike out on your own. We’re excited to support the next generation of entrepreneurs in Australia by providing them with the resources they need to establish a strong online identity and pursue their passions,” he continued.
Squarespace can help Australians take the first step in expressing themselves and their businesses through a beautiful online presence. Thanks to Squarespace’s extensive suite of online tools – including a website builder, e-Commerce platform, and domains manager – anyone can bring their idea to life online.
“I work full time as an interior designer, but noticed a gap in the market when I couldn’t find natural products for my whippet Stassi’s sensitive skin,” said Danni Dias, founder of Mr. PAW, the Melbourne-based all-natural, vegan dog grooming products company. “I created a product that is gentle on my pooch and kind to the environment, and Squarespace enabled me to share it with the world on a beautiful site that is easy to manage – even for someone that isn’t very ‘tech savvy’!”
KEY STATS
- 68% of Australians want to be their own boss
- 58% women and 47% men would give up alcohol for a month to do so
- 58% women and 50% men would give up social media for a week to do so
- 46% women and 35% men would give up lovemaking for a month to do so
- 40% of Australians are interested in starting their own business or passion project, and 10% have already done so
- 63% of Australian millennials have a passion project that they would like to turn into a job or career
- 78% of Australians believe that doing what they love or are passionate about is more important than earning a lot of money
- 68% of Australian women associate success in the workforce with doing something they love or that they’re passionate about, while only 40% associate success with earning a lot of money
- 54% of Australian men associate success in the workforce with doing something they love or that they’re passionate about, while only 45% associate success with earning a lot of money
- 19% of Australians recognise taking new risks as a driver for success in the workforce
- 59% of those interested in starting their own business or passion project cite financial risks as one of their fears, with not earning a profit (53%) and business failure (47%) are also common concerns
ADDITIONAL FINDINGS
Australian millennials (18-34 year olds) are redefining the modern Australian workplace – they see the 9-5 schedule is evolving, are driven by passion (not money), and are driving a more digital economy.
- 77% of millennials would like to be their own boss – a significantly higher number compared to 64% 35-44 YOs and 61% 45-59 YOs
- 63% of millennials have a passion project that they would like to turn into a job or career – a significantly higher number compared to 55% 35-44 YOs and 43% 45-59 YOs
- 83% of millennials believe the workforce is shifting from a traditional 9-5 schedule
- 78% of millennials believe the entrepreneurial generation creates new jobs that previously did not exist
- 65% of millennials have experienced personal success as a job candidate or prospective student from having a personal website.
Women are more passionate and empathetic than men in their pursuit of success in the workplace. They are also more motivated to start their own business by the desire to spend more time with their family, however, for many, the biggest barrier is knowing where to start.
- 68% women vs 54% men see success in the workforce is more about doing something they love or that they’re passionate about
- 53% women vs 40% men see making a difference in the lives of others as a marker of success in the workforce
- 50% women vs 40% men believe that accomplishing goals with a team of others defines success in the workforce
- 49% women vs 33% men are motivated to start their own business as a means of spending more time with their family
51% women vs 32% men cited simply not knowing where to start as the biggest barrier to starting their own business
