Generation Hustle: During the epidemic, young businesses became innovative.

When the world came to a halt in March 2020, leaving students stranded at home for months, it gave them time to reconsider their chosen plans. For other new grads, typical nine-to-five employment was not an option. Some ambitious students saw potential to start their enterprises amid the increasing adoption of digital technology, the flexibility of remote labour, and the social reckoning of last summer. 

The National Bureau of Economic Research reported, The pandemic resulted in an unusually high number of new company applications in the second half of 2020, which lasted into spring 2021. It's no surprise that youthful entrepreneurs founded several of them: According to a recent EY poll, more than half of Gen Zers (those under the age of 25) stated they want to launch their own company within the following ten years.

The pandemic's significant business upheavals generated a plethora of entrepreneurship opportunities. According to McKinsey & Company, the average share of partially or fully digital products and services climbed from 35% to 55% between December 2019 and July 2020, a seven-year acceleration from the moderate pace of adoption recorded from 2017 to 2019. In other words, during the pandemic, the proportion of digital offerings expanded tremendously, especially in the health care, pharmaceutical, financial services, and professional services industries.

Like any other entrepreneurial initiative, starting a new enterprise has a high level of risk, especially when one quits a full-time job or educational opportunity to do so. However, these entrepreneurs feel that there is no better time to take risks than in your twenties.