Gen Z entrepreneurs more likely to ditch university

Gen Z entrepreneurs

Across all ages included in the research, only 13% of entrepreneurs left education after graduating high school, and 63% are educated to degree level or higher. However, among Gen Z entrepreneurs surveyed, the percentage who left education after high school jumps to a quarter.

One factor may be the significant price hikes in higher education over the years. Among those surveyed who did graduate from university before starting a business venture, almost half (48%) say that education has not been valuable to them as a business owner.

“With GoDaddy research suggesting that higher education may not always be a necessary ingredient for entrepreneurial success, entrepreneurs who opt to forego attending university have the potential to be every bit as successful in building thriving businesses,” Lee said.

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Barrier to entrepreneurship entry

Almost three in 10 (27%) Canadian entrepreneurs surveyed said less than $500 was needed to start their business, including 12% who said that no start-up capital was needed at all.

This trend of forgoing university is particularly pronounced in rural parts of Canada, where a quarter (25%) of the country's no-degree entrepreneurs surveyed live. In contrast, just 13% of entrepreneurs surveyed who went to university live in rural areas.

Entrepreneurs surveyed and who didn't go to university are significantly more likely to employ other people without a degree at 61% compared to 43% among those with a degree.