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PRIVACY
Enterprise

Young people in the South West set sights on being their own boss

Almost 80 per cent of young people in the South West expect to upskill during their working life due to the changing nature of the job market

Nearly half of young people in the South West have ambitions to set up their own business during their working life.

New research into young people’s attitudes towards their future careers has found that 42 per cent of 16-24-year olds based in the South West have the ambition to be their own boss at some point in their life (compared to 43 per cent nationally).

The findings come from a survey of 1,001 16-24-year olds, of which 70 were based in the South West, commissioned by AAT (Association of Accounting Technicians), and conducted by Survation. AAT is the world’s leading professional body for accounting technicians with 130,000 members globally providing accountancy, tax and business advisory services.

When it comes to accessibility, more than half (56 per cent) of young people in the South West feel that starting their own business is an accessible option for them as a career choice based on their social background (58 per cent nationally).

Asked about what the most important factors are in setting up their own business, having enough money to get started is seen as a major priority.

When it comes to the skills required for starting a business, 43 per cent of the young people in the South West surveyed identified financial management skills as the most important skill followed by communication/negotiation skills (35 per cent) and leadership skills (32 per cent).  

Looking at the national level, young women in the º£½ÇÊÓÆµ are just as determined as young men to set up their own businesses one day – 42 per cent vs 44 per cent.

Adam Harper, director of strategy and professional standards at AAT, said:“It’s great to see that young people in the South West have the ambition to start their own business irrespective of their background.