Entrepreneurship on the increase?

Thirty percent of young people believe they will be self-employed in the future, according to a study by the Prince's Trust and the Royal Bank of Scotland. Indeed, 25% expect to be their own boss within the next five years.

Tellingly, a similar proportion of unemployed young people would rather try to set up their own business than continue to job-seek in today’s competitive market, the survey of 1600 16-30 year olds found. Figures from the Office for National Statistics show the number of self-employed young people has already risen by 71,000 since the start of the economic crisis, although the actual proportion of self-employed 16-34 year olds is just over 5%.

‘This research reveals an increasingly entrepreneurial mood among young people,’ said Martina Milburn, chief executive of The Prince’s Trust. The survey also found that a third of the young people would be more likely to consider self-employment if they had a mentor.  [ source: SSAT Policy Radar ]