Independent research with young people from disadvantaged backgrounds has found that the majority feel there are barriers to them being successful in business. Called ‘Ideas mean business: views on innovation among young, disadvantaged adults’, the report was commissioned by Innovate UK, in partnership with The Prince’s Trust.
It is based on research conducted by YouGov, which lays bare that:
82% of young people from disadvantaged backgrounds view the business sector as difficult to access
4 in 5 (78%) wouldn’t know where to go to get advice about setting up a business, with the main barrier being a lack of funding (79%)
just 8% would describe themselves as entrepreneurial
Yet, despite being aware of the challenges, many of those questioned had high ambitions:
more than half (54%) would like to run their own company
39% have ideas for products and services they think they could sell