Britain is becoming a nation of young entrepreneurs

Britain could soon become a nation of young entrepreneurs as new research reveals that 23% of 16-24 year-olds would start a business if they had the necessary resources and a further 11% say starting a business is their ultimate goal.

Young people are also beginning to view enterprise as a viable alternative to further education; 12% of 16-24 year-olds said they started or are planning to start a business rather than attend university.

The research, conducted by Groupon, also found that 37% of British adults now either run their own business or are planning to start their own business.

Being your own boss was cited as the most popular reason to start a business (53%), followed by the opportunity to have greater flexibility (40%), controlling how a business is run (26%), and being inspired by friends and family (11%).

Of those that have already set up a business, 32% said it was easier to do so than ever before with advances in technology having negated the need for an office and social media development having made it easier than ever to connect with consumers.

Elyas Chowdhury, managing director at Groupon UK, said: “It’s so encouraging to see signs that we’re becoming a nation of aspiring business owners.”