Youth keen on business start-up

New survey research released in the past week reveals that Britain’s youth has a passion for entrepreneurship. Over 63 per cent of students who took part in the survey said that they wanted to start their own business after leaving college or university. More freedom (29 per cent) and the desire to be their own boss (29 per cent) were the main reasons expressed by students for wanting to set up their own business, although unsurprisingly 32 per cent highlighted finance as a potential barrier to getting started.

Technology was also raised as a key factor with the two most important pieces of equipment required to get their business up and running identified as a laptop (70 per cent) and a mobile phone (13 per cent). The survey, by Start-Up Britain and Dell, was conducted with 380 students aged 15 – 24 across Britain between October and November 2012.

Its main findings were:

• 63 per cent want to start a business
•  70 per cent felt that a laptop followed by 13 per cent mobile phone were the most important pieces of equipment needed to start a business
•  25 per cent are hoping to work/start a business in the technology industry
•  83.9 per cent would consider applying for a start-up loan 
•  32 per cent saw funding and 22 per cent experience as barriers to starting a business

The survey was conducted as part of the 2012 StartUp Britain bus tour (of which Dell is a founding sponsor), which is designed to inspire and support young people who are interested in starting their own business.  Dell joined StartUp Britain to help provide UK start-ups with business and technology advice that helps their enterprises grow and thrive.  The tour went to over 40 colleges and universities throughout Britain, from Plymouth to Edinburgh.

Start-Up Britain co-founder Emma Jones said: “It’s no surprise to us that the younger generation are looking to entrepreneurship as a career path.  Their innate understanding of technology and the fresh opportunity that exists out there right now means they are perfectly placed to start-up a business and work for themselves. “