Instant Impact cites RBS statistics lack of entrepreneurialism in UK.

Instant Impact reflects on RBS statistics published this week showing low ambition amongst modern young entrepreneurs. As a graduate recruitment agency which was founded on entrepreneurial spirit, we reflect on how British culture does not go far enough to support and promote self-starting business.

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RBS statistics published this week show a significant ambition gap amongst young people who would like to start their own business. These statistics are initially seemingly promising in that 57% of young people are likely to want to start their own business, as opposed to 39% of the general population. However, this is undermined in that only 9% of young people say they are in the process of starting their own business.

Felix Mitchell, co-founder of Instant Impact, commented that? ?the British economy needs a cultural change.?

?My partner Rob Blythe and I have funded ourselves entirely, starting off working on kitchen tables from our parents? homes. Getting a small business off the ground in this country is difficult enough and we?ve been lucky.

?We haven?t felt like the British culture supports entrepreneurship. Our experience was that our peers thought we ought to be going into big business for traditional career paths when we graduated.

?It?s a shift in approach that will encourage more people to start their own businesses, as well as a sophisticated governmental system of financial support.?

The statistics further suggested that young men are more focused on business ?for profit?, whilst young women are twice as likely to want to start a social enterprise.

As can be expected, the data suggests there are regional differences in entrepreneurial desire. London, the East Midlands, and the West Midlands harbouring the most entrepreneurs, whilst the North East and Scotland fairing considerably worse.

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We?re interested in hearing your thoughts- does British culture support entrepreneurship?

If you?re a small business looking to expand and want to hire graduates to your workforce, then contact Instant Impact, the internship recruitment agency, to find out more.

To read our other sector insights, click here.

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Source: http://instant-impact.com/companies/rbs-research-into-social-entrepreneurship-is-a-damning-indictment-of-british-enrepreneurial-culture/

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