Young people in the UK aspire to own their own business, but the path feels financially out of reach, according to new research from Xero.
The study found nearly three-quarters (72%) of students surveyed aged 16-21 are attracted to the idea of entrepreneurship, but half of the respondents (51%) are coming up against a lack of funding, a lack of confidence (49%), and lack of financial skills (37%).
This has led to a sense of career exclusion, with 61% believing running their own business is a path reserved for people with money or connections.
Kate Hayward, UK MD, Xero (pictured), said: “We have a generation who are ambitious and driven to build something of their own, yet we’re failing to give them the skills and confidence to make it happen.”
