• Nearly half (47%) of secondary school students want to start their own business when they leave school, up from 35% in 2023.
• Entrepreneurial spirit expressed by 52% of boys and 41% of girls.
• 6 in 10 students identify a balanced life between work, study and pleasure as the most important measure of success.

The number of Australian secondary students who want to own their own business after finishing school is on the rise, with nearly half of students aspiring to become business owners today compared to 1 in 3 in 2023, according to new research by NAB Economics.

This significant increase in entrepreneurial ambition (52% of boys and 41% of girls) suggests students are looking to take greater control over their lives and provides insight into what they value, with 60% identifying a balanced life between work, study and pleasure as the most important measure of their success.

The report, titled “Life after school”, is the third and final report in the latest NAB Economics’ Education Insights Series, which surveyed hundreds of secondary students across the country from public, private independent and Catholic sectors to better understand how they view their lives, and the role schools play in supporting them.

NAB Executive Business Metro and Specialised, Julie Rynski, said the report findings are a compelling case for optimism in Australia’s future and a positive indicator that the entrepreneurial spirit is alive in young Australians.

“It’s fantastic to see the entrepreneurial spirit that we see all the time in business owners reflected in the next generation of Australian school graduates. ‘Having a go’ has long been part of the Australian ethos driving the engine room of our economy, and I’m very happy to see that ambition shining through in these results,” Ms Rynski said.

“Economic cycles come and go but it’s always a good time to start a business – to have a go at building something of your own. That’s the essence of entrepreneurship and I see that in NAB’s business customers every day.”

French-trained patissiere, restaurant owner and young entrepreneur, Morgan Hipworth, is an example of the next generation of business owners in Australia with the drive and hustle necessary to have a go starting a business, with startling success.

Morgan began his culinary journey at age 15 and in less than a decade he has founded both Bistro Morgan and his mediterranean restaurant Maven by Morgan.

“For me, it was always about passion and a dream rather than just starting a business. I never saw it as just a job, it was about creating something I loved and sharing it with people. Now, I think more young Aussies are realising that what they dream is actually possible,” he said.

“This research shows that they’re backing themselves, and that’s exciting. If you’ve got an idea, go for it. The worst that can happen is you learn something and that’s never a bad thing.”

Deputy Headmaster of Brighton Grammar School, Dr Ray Swann, who also leads the school’s education research centre, said the optimism reflected in NAB’s research correlated with what the school is also seeing amongst today’s students.

“The NAB research aligns with our own findings that young people hold hope and optimism for the future,” he said.

“Part of our role, as schools, is to ensure that hope is only strengthened through learning environments that provide the balance between challenge and support.”

Read the NAB Economics’ Education Insights Series full report ‘Life After School‘.