Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
iStock 1306680401 - Business Express
Small Business word on wooden blocks SME and entrepreneur startup businesses concept

New generation of Gen Z entrepreneurs ‘demanding more’ of business advisors

Connectd study highlights changing role of non-exec and other external consultants 

London, 12th October, 2022: Gen Z business founders are more likely to engage business mentors than their older counterparts, according to independent research commissioned by Connectd, the growth marketplace connecting startups with investors, advisors and mentors.  

The study, conducted by Censuswide, polled 100 Gen Z entrepreneurs (aged between 18-24) and entrepreneurs aged over 25 to discover changing priorities between each group.

When asked to rank what they look for in an advisor or non-executive director, support for growing and scaling the business (64%) and financial and legal expertise (60%) came out on top.

Interestingly, 54% of Gen Z founders want specific help with their health and wellbeing.

 “The role of a business advisor is changing,” said Roei Samuel, serial entrepreneur, investor and CEO of Connectd. “This new breed of entrepreneur is demanding more from their inner circle, who must broaden their skillset if they are going to play a leading role in businesses from here on.”

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!

By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

The study also showed that Gen Z entrepreneurs are more likely to be open and honest about their struggles than those aged over 25. More than half (54%) said they would seek advice when their business is facing hardship, but only 19% of older founders said they would do the same.

Samuel added: This reflects a societal trend we see, where younger generations are more likely to seek advice during hard times, even compared to my generation.”

The nature of how founders engage entrepreneurs is also shifting. The Connectd study found 80% of Gen Z founders prefer to interact and receive advice via digital channels, compared to just 44% among older business leaders.

Anne Watson, Board Advisor, comments: “Most founders, whatever their age, are focused and determined but Gen Z really takes this to the next level. I think that springs from their having a really strong sense of purpose and I really welcome this positive shift.”


Recent Post: