Despite 41% of Gen Z believing it’s best to start a business young, 40% feel overwhelmed and unsure where to begin, according to new research.
The study of 1,000 aspiring business owners by NatWest and Mettle by NatWest found emotional barriers are stifling entrepreneurial ambition, with nearly a third (31%) of Gen Z citing fear of failure as a major barrier to starting a business and 30% worried about balancing business and personal lives.
The research also shows that more than a quarter of Gen Z (26%) worry about having to manage every aspect of a business alone. Meanwhile, clear guidance or a step-by-step plan is seen as the most likely factor to give them the confidence to start (14%).
Michelle Prance, CEO of Mettle by NatWest, said:
“Gen Z doesn’t lack ideas or ambition – what some young entrepreneurs are missing is confidence. Our role is to remove that uncertainty by offering the tools, guidance and encouragement young people need to believe in themselves and turn their ideas into viable long-term businesses.
“As we've helped tens of thousands of businesses get started in 2025, we provide the tools and resources to support them on their journey and manage their finances effectively.”
Chaye Hall, 25, founder of hair and skincare brand Official True Beauty, said:
“At the beginning of running your business, you feel like you’re on your own. You are the finance team, the accountant, the content creator – you wear so many hats when you don’t actually have to. There are so many opportunities for support out there.
“Asking for help was my biggest fear, but over time you become used to it. I think being too comfortable in your own environment can hold you back, so you must learn the business and get used to being uncomfortable – and that’s okay. It’s not just about being steady and sitting in what you already know.
“You’ve got things like the NatWest Accelerator, and lots of different places you can go to get help and guidance.”
For early-stage businesses seeking support, the new NatWest Accelerator app provides access to a range of digital and in person support and the opportunity to connect with a community of business owners.
