76% of millennials want to start-up in post-Brexit Britain

By the year 2018, it’s estimated that almost two out of every 10 people living in the UK will be an entrepreneur

76% of 18-24 year olds want to start their own business in the future, despite the economic uncertainty caused by Brexit.

According to a study by Idinvest Partners, over half the UK population have dreams of becoming their own boss, and it’s estimated that almost two out of every 10 people living in the UK will be a business owner by 2018.

The entrepreneurial bug appears more evident in younger sections of British society, as 70% of 25-34 year olds have start-up ambitions, compared to 66% of 35-49 year olds and 48% of 50-64 year olds.

When it comes to the motivation for starting a business, financial success (48%) and freedom and independence (47%) are the biggest factors.

In terms of barriers preventing people from going it alone, respondents cited having a lack of access to finance, ambition and an innovative idea as reasons.

Christophe Bavière, CEO and Benoist Grossmann, managing partner at Idinvest Partners, said:

“While some future entrepreneurs will be considering their options in light of Brexit, the majority continue to see themselves as future business owners and start-up founders.

“These findings clearly demonstrate the strong entrepreneurial drive at the heart of the nation and the belief that the UK continues to provide a supportive social and economic environment to foster this talent- a view that we continue to support”.

Alex Saint, co-founder and CEO of Secret Escapes, said:

“The British entrepreneurial climate is as hot as ever, we’re a nation of creative thinkers who value hard work, ambition and aren’t too keen on having a boss.

“It’s disappointing that we’ve chosen to distance ourselves from Europe but I’m not surprised that budding UK entrepreneurs aren’t deterred, I don’t see any reason right now why people shouldn’t be hugely optimistic about starting their own business”

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