Young, ambitious and innovative: the age of the self-starter

With new unemployment figures for young people at the highest since records began, prospects are looking bleak. However, the recession seems to be having a noticeable impact on a growing number of twentysomethings exploring more innovative ways of making a living. Research by Enterprise UK has revealed that young people are becoming growingly passionate about business and are becoming more entrepreneurial in their outlook. The statistics revealed that 51% of those asked in the survey would like to be their own boss.

In a time when university students are no longer guaranteed a job after graduation and 2.5 million are unemployed, young people are looking to set up their own businesses. Tom Bewick, the chief executive of Enterprise UK says; “One of the features of a recession is that it is a good time to be an entrepreneur. The compact that has existed for the last 20 or 30 years – this idea of doing well at school, then going to university, getting a degree and almost being guaranteed a job – is no longer the case.”

A survey by Hiscox Insurance found that four in 10 London undergraduates were either managing their own businesses or setting up companies while still at university. One of these ambitious individuals includes 19 year old Gérard Jones, who founded a highly successful football coaching academy while still studying for his degree.

A growing number are taking the idea to start their own business from entrepreneurial and business shows such as; Dragons’ Den and The Apprentice. Figures show that 1 in 4 young people in the UK said they had learned more about business from Dragons’ Den than anything else.

David Cameron has already named the next decade as “the age of the entrepreneur” and according to government records, the number of self-employed graduates has leapt 46% in the last six years.  The government is supporting startup businesses, launching the new enterprise allowance scheme in October 2010.  This provides guidance and financial support to unemployed people aspiring to set up their own business.

Have you set up your own business? Get in touch if you would be interesting in telling us your story.