By Daniel Hunter

Starting a business is growing in popularity amongst young people across the world, according to a report published today (Wednesday) by UK Trade & Investment (UKTI) and the Economist Intelligence Unit.

Over 400 18-25 year olds were surveyed for Rethinking the drivers of entrepreneurship, with 44% motivated by financial independence and 37% by personal satisfaction in their quest to become an entrepreneur.

However, while the ambition is strong amongst this age group, just seven per cent of survey respondents had already established their own business with the majority wanting better access to a network of successful entrepreneurs or tailored support to help get their business ideas off the ground.

The report has been published on the day that UKTI’s Sirius Programme has awarded an additional 24 new start-ups — founded by the most inspiring international entrepreneurs — with the vital support they need to get started.

UKTI Managing Director, Investment Michael Boyd said: “More and more young people the world over are enthused by the prospect of owning their own company.

“Identifying and attracting high-quality investment is a core aim for UKTI. The UK is the most popular location in Europe for start-ups, and through our Sirius Programme we help some of the world’s most promising international graduate entrepreneurs take their ideas from a dream to reality.

“I encourage all companies thinking of setting up in the UK to contact UKTI to find out how we can help.”

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