The rise in entrepreneurship has significantly increased worldwide. With more young people wanting to hustle entrepreneurship is bigger than ever. Technology and social media has made it easier than ever to start a business and young people have realised this. This article explores why more young people are choosing entrepreneurship.
Entrepreneurship is the process of following an idea and making it a reality. To young people starting a business has become attractive because of the freedom they have. Traditional career paths are seen as controlling and young people want to choose where and when they work. Young people have a major advantage with access to a growing digital world. Sites like Etsy and Ebay allow youth to start selling from the comfort of their homes without setting up a formal business. Furthermore social media has allowed the youth to showcase ideas and allowed them to gain inspiration from older entrepreneurs.
The low barriers of entry people have into the business world has never been lower. People only require Wi-Fi and a digital device to launch an enterprise. The vast range of free and cheap software there is has given the new generation an opportunity to start their enterprises. The use of Artificial Intelligence has provided people with instant and realistic business plans they can follow. The traditional 9-to-5 office model is losing its appeal to a generation that values control.
Figure 1: The graph above shows that more than half of UK adults aged 18–24 were considering starting a business in 2024, highlighting the growing interest in entrepreneurship among younger generations.
Entrepreneurship has many benefits to all individuals as well as the younger generation. Entrepreneurship can enhance numerous skills. These can include financial literacy, problem-solving, communication and leadership. In addition to this successful enterprises have a very high earning potential.
There are numerous challenges in entrepreneurship. For example businesses have a chance to fail creating a loss in capital and time. Entrepreneurship can also lead to extreme workload and burnouts when starting. This has a direct impact on individuals mental health. Lastly, low levels of experience can make individuals struggle when starting a business due to a lack of knowledge.
Overall, entrepreneurship is likely to grow in future generations to come. This is primarily due to advances in technology and entrepreneurship becoming a trend many are following. Entrepreneurship can be a good way for individuals and the youth to grow experience and value however, it can cause individuals to lose time and money.
References & Further Reading
- Enterprise Nation – StartUp Ambition Report 2024. Used for Figure 1 and research showing that 54% of UK adults aged 18–24 were considering starting a business in 2024, highlighting growing entrepreneurial ambition among young people.
- Enterprise Nation – StartUp Ambition Report 2025. Used for background research on the continued rise in entrepreneurship and the growing popularity of side hustles, particularly among younger generations.
- Enterprise Nation – StartUp Ambition Report 2026. Used for research into the changing motivations behind entrepreneurship, including financial independence, rising living costs and the increasing appeal of side hustles.
- British Business Bank – Used for information on Start Up Loans, entrepreneurship support and access to finance for new businesses.
- Start Up Loans (British Business Bank) – Used for guidance on starting a business, funding and support available to first-time entrepreneurs.
- Companies House – Used for background information on business registration and starting a company in the UK.
- Federation of Small Businesses (FSB) – Used for research on the opportunities and challenges facing entrepreneurs and small businesses.
- Department for Business and Trade – Used for information on entrepreneurship, business growth and government support for start-ups.
- Pexels (Photo by Kindel Media) – Hero image