Teenage tycoons earning three times average UK salary

Published on Tuesday 25 March 2008 21:48

A NEW breed of "teenage tycoons" are taking the nation by storm with almost 21,000 children of 15 or 16 earning more than £60,00 online each year.

The figure revealed today in a survey is nearly three times the average UK salary.

According to the research, 15 per cent of teenagers are earning 23 an hour – six times the UK minimum wage.

The Virgin Media group surveyed 700 youngsters between the ages of 13 and 18 and found 43 per cent have made money on the internet in the past 12 months. Just over one in five of these "teen-preneurs" has gone as far as setting up an online businesses from their bedroom while in full-time education.

Virgin Media has now launched a search to find the nation's "brightest brains".

In the initiative entitled Virgin Media Sparks, the broadband provider has joined forces with the Bright Ideas Trust to give a teenage tycoon the chance to meet Tim Campbell, the winner of BBC's The Apprentice.

James Kydd of Virgin Media said: "It's great to see young people all over the UK honing their entrepreneurial skills."