Young want to run own businesses

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Young want to run own businesses

Karen Gomm
Half of the UK's young workforce are planning to start their own business rather than work for another organisation, a study by qualifications body City & Guilds has found.

The report revealed that nearly half of the UK's 16 to 25-year-olds are planning to shun a regular nine-to-five job and start up their own business.

The findings will fuel concerns that employers will find greater difficulty recruiting young people for IT positions in future.

More than 10% of the 1,112 young adults questioned said they planned to start setting up their own business within a year. A further 24% plan to start a business within the next five years.

More than 66% of young men wanted to set up their own businesses, as did 44% of young women, the research revealed.

Chris Humphries, director general of City & Guilds, said the findings showed UK youngsters had an entrepreneurial drive.

"It is reassuring to see that many young people are extremely ambitious and possess real entrepreneurial spirit. It is vital that, as a society, we encourage our young people to fulfil their vision by giving them as much support, guidance and skills as possible."

Entrepreneurs such as Microsoft's Bill Gates, Dell's Michael Dell and Netscape's Marc Andressen made significant contributions to IT in their teens and early twenties, Humphries added.

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