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UAE: How social media is helping Gen Z launch their own businesses, survive in competitive market

Young entrepreneurs can showcase their products or services to a global audience without needing a lot of money upfront

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Photo: File. Image used for illustrative purpose
by

Waad Barakat

Published: Mon 4 Nov 2024, 2:53 PM

Last updated: Mon 4 Nov 2024, 9:05 PM

Generation Z, often called digital natives, is set to become one of the most entrepreneurial generations ever. According to recent studies from Adobe, about 64 per cent of Gen Z plans to start their own businesses within the next three years.

Growing up in a digital world focused on e-commerce, this tech-savvy group has a clear advantage: they know how to use social media marketing and online branding effectively.

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Experts believe that social media has played a huge role in boosting Gen Z’s entrepreneurial spirit. Dr Sarah Johnson, a marketing professor, explained that "seeing peers successfully launch their businesses serves as a powerful motivator for Gen Z. When they see others achieving their dreams, it encourages them to take the leap too." This sense of community makes starting a business feel more achievable.

Dr Sarah Johnson

Social media has opened up entrepreneurship, allowing anyone with a smartphone to enter the market. Young entrepreneurs can showcase their products or services to a global audience without needing a lot of money upfront. "Gen Z knows how to tell stories and build their personal brands," said Raj Patel, a social media strategist. "They can create genuine connections with their audience, which is essential for building loyal customers."

Additionally, the fear of failure — a common hurdle for many aspiring business owners — doesn’t seem to bother this generation as much.

Emily Chen, a 22-year-old Gen Z entrepreneur who started her own sustainable fashion line, shared: "We’ve grown up in a world where failure is seen as a step toward success."

"Social media has made it clear that not every venture will succeed, and that’s okay. It’s about learning and growing." This mindset encourages experimentation and innovation, allowing young entrepreneurs to refine their ideas without being paralysed by the fear of mistakes.

The boldness of Gen Z is another factor contributing to their entrepreneurial success. Many believe anyone can become an influencer, empowering them to chase their passions.

"Social media has changed the way we view success," said Chen. "Gen Z sees influencers not just as celebrities but as relatable people who built their brands from the ground up. This belief that they can also succeed fuels their entrepreneurial drive."

Moreover, various social platforms have become invaluable marketing tools. Viral trends can catapult a small business into the spotlight overnight. "It’s amazing how one video can reach millions," noted Chen. "Gen Z understands how to tap into these trends and create content that resonates with their audience, giving them an edge in a competitive market."

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Waad Barakat

Published: Mon 4 Nov 2024, 2:53 PM

Last updated: Mon 4 Nov 2024, 9:05 PM

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