More than half of young Brits are unable to name a single entrepreneur. This is according to new research which campaigners say highlights a worrying disconnect between Britain’s startup culture and the next generation.
A YouGov poll carried out on behalf of Enterprise Britain found that 56 per cent of 18 to 25-year-olds could not name an entrepreneur, founder or chief executive. Of those who were able to do so, Richard Branson was mentioned most often; it was mentioned by 16 percent of respondents in this age group.
Lord Sugar was mentioned by 6 per cent, while just 2 per cent mentioned Steven Bartlett, the Dragons’ Den investor and host of CEO podcast The Diary. Across all age groups, 33 percent of British adults named Branson, while 32 percent could not name an entrepreneur at all.
The findings come as youth unemployment has risen to its highest level in more than a decade and the Treasury is finalizing a consultation on taxation of entrepreneurs.
Enterprise Britain, a lobby group founded by business leaders including Stephen Fitzpatrick, founder of Ovo Energy, and Brent Hoberman, co-founder of Lastminute.com, has launched a campaign called Time to Act, calling for greater government support for entrepreneurship.
Baroness Lane Fox, co-founder of Lastminute.com and a member of the group, said the term “entrepreneur” was misleading to many people. “It took on a size,” she said. “People think you have to build a global giant to count. Entrepreneurship can take many forms and can be economically rewarding for individuals and communities.”
The survey also found that 74 percent of respondents believe the UK’s position in the global economy is in decline, underlining broader concerns about growth and competitiveness.
Enterprise Britain is calling for the creation of a dedicated Minister for Enterprise and measures to expand access to capital, including expanded employee share ownership schemes and greater pension fund investment in high-growth UK companies.
Fitzpatrick said: “Britain has a great economic engine. But while we have one foot on the accelerator, the other is on the brake. We need to release the brake to allow ambitious companies to drive the country forward.”
The campaign reflects the growing debate about how to encourage entrepreneurial ambition at a time when economic uncertainty and rising employment costs are transforming the job market for younger Brits.
