A large proportion of Australian teenagers aspire to start businesses as side hustles or an alternative to traditional work.
National Australia Bank research, released today, shows that around 40 percent of young people would consider starting businesses if they had access to the right support.
There is also a gender divide, with more boys than girls planning to start businesses.
NAB Small Business banker Nikola Nanayakkara said the findings from a survey of 400 Australian teenagers showed a generation ready to have a go.
“Today’s teenagers think differently about work, opportunity and backing themselves,” Ms Nanayakkara said.
“The ambition is there. The challenge is helping young people turn an idea into action.”
Teens, grouped under the Gen Zs and Gen Alphas age groups, are thinking about side hustles and business ideas earlier than ever, the NAB research found.
“But a lack of practical skills, experience and confidence is stopping many from taking the first step,” NAB said in a statement.
“That gap matters. Without clearer pathways into business ownership, Australia risks missing out on future innovators, employers and small business owners.”
Ms Nanayakkara said that starting a business did not have to be complicated.
“It’s about starting small, learning as you go and building confidence along the way,” she said.
Amy Manole, 17, launched I Heart Hoops in 2024 after spotting a niche in basketball-inspired jewelry for female players. She grew the business through social media and word of mouth, reinvesting profits to expand.
“For a lot of young people, the ambition is there, but it can feel like there’s no clear place to start but you learn by doing,” Amy said.
Eliana Saad, 13, started activewear brand La Forte after identifying a gap in clothing for her age group. What began as sketches at 11 during COVID has grown into a business she runs alongside school.
“It’s shown me what actually goes into building something, not just having the idea,” she said. “My goal is to have a standalone La Forte store.”
Ms Nanayakkara said schools, families and industry all had a role to play but simple, practical steps could make an immediate difference.
“If we want more young Australians to turn ambition into action, we need to make the first step clearer,” she said.
NAB’s 11 simple tips for starting a business before you finish school:
Start with a problem you understand
Look at your own life. What’s missing or could be better?
Keep it small
Don’t set out to “launch a business”. Try a simple idea and test it.
Make your first version quickly
Done is better than perfect. You’ll learn by doing.
Test before you spend money
Ask people if they’d buy it or take pre-orders first.
Start with people you know
Friends, family and school networks are your best first customers.
Use what you already have
Your phone, social media and friendship network are enough to begin.
Learn from others
Find someone doing something similar and mirror the basics.
Know your numbers
What does it cost? What will you charge? Are you making anything?
Reinvest your first earnings
Use early money to improve or grow the business.
Ask questions and get help
Speak to people who’ve done it. Most are willing to share advice.
Expect things to go wrong
That’s normal. Every mistake helps you learn.
