Rise of the UK's young entrepreneurs - 247,049 to be exact!
October 14, 2014
EntreHub Staff Writers
Recently released research is showing that more and more young people are taking up the challenge of starting their own business – well, that’s what’s happening in the United Kingdom anyway! The research released by Duedil and Enterprise Nation took a look at data that compared 2006 with 2013 and what came out was a little surprising - there had been a significant increase across all age groups with the under 35 age group showing the largest growth.
Data shows that in 2006 there were 145,104 companies founded by young people but in 2013 that had jumped to 247,049. Some could argue that the recession has had something to do with it where young people have no other choice but to start a company in the absence of job availability – however the significance of 2006 is it was before the global financial crisis and 2013 is the year when the UK began its path to recovery.
It was young men leading the charge with 74% of the more than 247,000 founded with just 26% being founded by women.
Interestingly the data showed that less people are doing it together or in partnerships whereby in 2006 66% of young people went into a venture as a pair or team but by 2013 that had dropped to 42%.
“These statistics show that younger generations are no longer pinning all their hopes on finding the perfect job, they are taking their destiny into their own hands and creating a business around a skill, a passion or a hobby." Said Emma Jones, founder of small business network Enterprise Nation.
“22-year old Bailey has already created a lot of noise around his platform which makes “booking a shop, as easy as booking a hotel room”, and now has over 250 spaces nationwide and partnerships with 4,000 brands and retailers.
Inspired by a local ad to ‘rent this shop for £300 per week’, Bailey questioned why there wasn’t the option to rent all shops on a weekly basis and, after testing his idea by launching his own series of pop-up outlets, Appear Here was born.
Now with 10 employees and ambitions to “completely disrupt the commercial property industry”, the London-based entrepreneur is rapidly scaling the business to help start-ups find trading space and says it “feels good”.
Bailey’s also keen to grow his client portfolio having already enlisted several leading brands and corporations including the likes of Google, Microsoft and the BBC.
A keen businessman from a young age (at 12 he ran a local dog-walking business), Bailey is quick to point out that Appear Here is “by no means any less serious a business opportunity because a young guy is behind it”.
Over the next few years, Bailey wants to build the brand to achieve global reach with “a world wide web of physical spaces, so they can appear in London one month, New York the next and Berlin after that.”
The summary? It looks like entrepreneurship is going strong in the United Kingdom!
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