By Daniel Hunter

Half of millennial entrepreneurs expect their start-ups to make a profit in under 12 months, according to research by the London Enterprise Festival.

More than half (51%) of those surveyed said they would expect to make a profit in their first year. And 26% believed that it would be less stressful to run a business than working for someone else.

The London Enterprise Festival claims that with 85% of gen Y aspiring to become their own boss, the success of high profile start-ups, combined with 'real-time' technologies have created a generation of 'instapreneurs'.

Erez Nounou, organiser of London Enterprise Festival, said: "Our findings prove that the millennial generation seem to be more impatient than ever before, expecting overnight success or simply moving on to their next venture without investing any sweat equity."

The London Enterprise Festival is a two-week celebration of entrepreneurship, bringing together the business leaders of today and tomorrow.

Speakers at the event include John Bird MBE, founder of The Big Issue, Will Hobhouse, chairman of Heal’s and Jon Wright, co-founder of Innocent. Other participating companies include Teach First, Etsy, RBS and Microsoft.

All profits are reinvested in local communities and local business ecosystems to create a resounding social impact and boost entrepreneurship among Londoners.

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