The rise of the Y and Z generations is becoming more and more spectacular

By: Trademagazin Date: 2023. 11. 15. 12:02

The popularity of the younger generations – Y and Z – is increasing, contrary to the declining company trend, their weight is constantly increasing. The number of Baby Boom and Generation X entrepreneurs decreased by 16,500 in 2022. On the other hand, in the circle of large companies, Generation X has increased its presence not only among the owners, but also in the senior positions of the companies.

In the period before the epidemic, based on OPTEN’s data, it appears that the generational change took place evenly, with younger age groups coming up year after year. The epidemic caused a small break in the process for a short time, but the trend has now returned. Although generation X is still the dominant group of owners – they represent 50%, which means nearly 325,000 people – but their number, even if to a small extent, is constantly decreasing, giving way to the age groups Y and Z.” – said Csaba Alföldi, OPTEN’s company information expert. The rise of Generation Y is becoming more and more spectacular, after the epidemic, they represent the second largest group of owners, ahead of the Baby Boom generation.

In general, it can be said that the younger generations first play a greater role in the ownership circle, but later in the management of the corporate sphere, among those with registration rights. This process is particularly noticeable in Generation Y and the generations following it, who have already grown up or are growing up in the world of businesses. The role of digitization in increasing efficiency also justifies the greater involvement of this generation, since for them digitization is already their existence. Based on OPTEN data, these generations take on an increasingly prominent role in company management from their mid-20s onwards. Companies with sales in the billions, for example, have three times as many representatives in the management as in the circle of owners.