More young people interested in starting a business, survey shows

Over 20 per cent of young people aged between 15 and 18 are interested in setting up their own business, according to a survey by YouGov.

The survey, which was commissioned by Google, showed that over 30 per cent of teenagers believe that starting up a business would be beneficial, whilst 47 per cent said that they were not afraid of taking risks when making money.

Confident

The study found that boys are more confident about setting up their own business than girls, with 36 per cent of male teenagers being less worried about failure, compared to 28 per cent of female teenagers.

14 per cent of male teenagers were also found to be much more likely to think about setting up their own business straight after finishing school, compared to 9 per cent of females.

The survey also found that teenage boys feel more positive about entrepreneurship, with 41 per cent stating that they are confident they would not make any mistakes, compared to 31 per cent of teenage girls.

The survey also highlighted some of the concerns that young people have about starting a business, with 56 per cent stating that they believe setting up a business is too risky, 21 per cent believing that it is unstable, and 11 per cent saying that they think it is reckless.

Important

Campus London head Sarah Drinkwater said: “No matter what their eventual career, we know that teaching students about entrepreneurship builds critical thinking, communication and collaboration skills.”

She added: “These are highly important skills for young people as they prepare to enter the world of work, but can also ensure that the UK’s start-up ecosystem flourishes in the years to come.”