Today, new research from WhatsApp Business shows that young people in the UK are more entrepreneurial than ever, as over 68% of Gen Zs have had a new business idea, compared to 38% of the general population. However, just 18% of Gen Zs with a business idea have managed to bring it to life, with 54% mentioning money and investment as the main barriers, followed by over 25% feeling they lack the skills or knowledge needed.
Top Tips for Budding British Entrepreneurs
To support these young aspiring business owners, we’re partnering with Enterprise Nation to provide budding entrepreneurs in the UK with the tools they need to start a successful business on WhatsApp. We’ve identified five top tips for those who want to grow their own business:
- Find your niche: It’s increasingly hard to get cut through, but if you can identify a business idea that solves a problem for consumers, you will be onto a winner.
- Get that bag: With new-age banks, you can set up a business account in minutes from your phone. You can manage your finances 100% through an app, and with no monthly fees.
- Be where your customers are: Connect with over two billion users worldwide on WhatsApp. The free WhatsApp Business app allows you to set up a business profile with all your information, includes a catalog of your services for customers to browse and is end-to-end encrypted, making it secure for everyone. If you already use WhatsApp, you can set up the WhatsApp Business in minutes.
- Be social: Have a social presence and post regularly to keep your customers interested.
- Communication priority: When you’ve built your customer base, you need to nurture the relationship like your favorite house plant. No one wants to be ‘on’ 24/7, but you can’t leave them hanging. The WhatsApp Business App provides automatic replies and quick responses, so customers feel loved and you look professional, even when you’re off the clock.
“It’s no secret that Gen Z are an entrepreneurial generation, ignited by joining the workforce during a pandemic and rising inflation, but while there is plenty of enthusiasm, there is a clear knowledge gap on how they turn their ideas into a successful business. We believe any idea, no matter how unusual, can become a great business with the right tools. So, we’re delighted to partner with the WhatsApp Business app to encourage people to take that leap and be their own boss. ” – Emma Jones CBE, Founder of Enterprise Nation
“The WhatsApp Business app was designed with the small business owner in mind, specifically to make connecting with customers quick and easy. Whether it’s to send automatic replies or have a digital catalog of services, we hope businesses of all sizes find it helpful having an official presence on WhatsApp so they can spend more time on running a successful business ”. – Helen Charles, Public Policy Director at WhatsApp
Partnering With Local Creators to Reach Young Entrepreneurs
We’ve also teamed up with popular Gen Z YouTubers Chunkz and Harry Pinero to help three British entrepreneurs scale-up their business ideas using the Whatsapp Business app.