By Marcus Leach
With A-level and GCSE results recently published and a sixth of young people aged 16-24 years classed as NEET (not in education, employment or training), the study found that nearly half (44%) of young people are looking to set up their own business and are using technology to supercharge their business ideas more than ever before.
The research, carried out by PC World Business, also found that 44% claimed they could run their whole business using just a laptop and internet connection.
A massive 80% of 16 year olds have had a business idea for two years or less, (some since they were only 14 years old) and with university tuition fees on the rise, they are now ready to set up their firms and become the next Richard Branson.
46% are aiming to set up on their own in the next two years and an ambitious 19% are looking to set up their business in the next six months. Celebrity business programmes, such as The Apprentice and Dragon’s Den, are influencing this group of young business stars, with nearly half (49%) claiming they are more aware of entrepreneurial career options after watching business TV programmes.
Even though more young people are looking to start a business, the research found that there are barriers to setting up on your own. When asked what is stopping them from setting up their own business, 42% claimed lack of funding was the biggest hurdle and 29% said they did not know where to start.
However, they were aware of the resources available to help them with their business, with 40% saying they would use the internet for advice, followed closely by mum and dad (38%) and the bank (29%).
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