Millennium factor for entrepreneurs

Published on 11/09/2012 00:00

Young people who grew up around the turn of the century are more likely to want to set up their own company than earlier generations, according to a report.

The so-called millennial generation displays an “unprecedented entrepreneurial spirit”, with almost one-third of those aged 20 to 29-years-old wanting to start their own business, said the report from the RSA charity in partnership with the National Centre for Social Research.

The number of 18 to 29-year-olds in the process of setting up their own companies has risen by 50 per cent in the last year alone, according to separate analysis commissioned by Royal Bank of Scotland Group from the Global Entrepreneurship Monitor. Technology and the internet are major factors.