SINGAPORE – Mr Zames Chew and Mr Muhamad Imran Mean were only 16 when they started their first big businesses. Ms Charmaine Low had just turned 20.

Age was a challenge but not an obstacle for these young bosses in their 20s, who leveraged fresh perspectives and youthful energy to power through trials.

Like them, Gen Z youth are an entrepreneurial force to be reckoned with today, with multiple surveys around the world indicating that many in this generation prefer to be a boss than to be an employee. A 2022 survey commissioned by Microsoft, for instance, showed that 62 per cent of American Gen Z youth have created or are planning to launch a business. They start young with side hustles, thanks to their native proficiency in the digital world and social media.

There is also a vast difference in the environment supporting aspiring young bosses now.

Mr Martin Tan, co-founder of Halogen Singapore, a non-profit that supports youth to realise their potential, says: “Twenty-one years ago, when Halogen was founded, there was no such thing as entrepreneurship for young people. There wasn’t even a lot of emphasis on leadership.”

“Today, our young people have the appetite and aspiration to build something of their own. They are willing to try and more willing to fail,” adds the 47-year-old.

What makes them different from their Gen X parents is their desire for social impact.

“Gen Zers want to feel that they’re contributing to something that’s larger than themselves,” says Ms Lim Ee Ling, 38, chief executive of non-profit Wavesparks, which runs Young Founders Summit (YFS), a six-month start-up incubator programme for 15- to 20-year-old aspiring entrepreneurs from the greater Asian region.

Founded in 2018, YFS has engaged with 4,000 youth and mentored 560. Its 2024 summit cohort had 80 participants, of which 35 per cent were from Singapore. Others hailed from India, South Korea and Kazakhstan.

Driven by the world they live in, Gen Zers are self-directed learners and early adopters of new technologies such as artificial intelligence, and want to see results faster, says Ms Lim. She is also executive director of market launch at 500 Global, an American venture capital firm.

She says YFS’ mentors, whose ranks have included leaders from super app Grab and automotive marketplace Carro, have been surprised by how willing Gen Z participants are to listen and be coached.

“They don’t expect them to be this hard-wo...