Half of young Britons want their own business

Half of young Britons want their own business

Tuesday, May 10, 2005

A growing number of young people would rather start their own business than work for someone else, according to new research.

A new survey by the City & Guilds reveals that nearly half (49 per cent) of Britain’s young people (between 16 and 25) have a strong desire to go it alone rather than bow down to the demands of a boss.

And it would seem that young men are more likely to take the plunge with nearly two thirds (63 per cent) wanting to set up their own business compared to just 44 per cent of young women.

One in 10 had already started planning to launch their own firm while a further one in four said they would be ready within five years.

Chris Humphries, director-general of City & Guilds, said, ‘It’s reassuring to see that many young people today are extremely ambitious and possess real entrepreneurial spirit. It’s vital that, as a society, we encourage our young people to fulfil their vision by giving them as much support, guidance and skills as possible, as this will ultimately benefit them and the British economy."

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