Younger start-ups on the rise

Small business insurance broker, Simply Business, compared data from 2007 to 2010 and reported a 6.5% increase in business owners aged 25 to 34. Regional changes were even more marked. London saw a 14% increase in business owners aged 34 and under; while Scotland and the North East saw an 11% increase.

Jason Stockwood, CEO of Simply Business, said:  "This data shows that young people are adapting to a challenging employment landscape by taking their destiny in to their own hands and starting a business.

It's undoubtedly good to see more young people deciding to start a business rather than perhaps seek employment. Not just in light of the recent unemployment statistics - but also the ever-increasing cost of going to university.

In fact, people aged 18 to 25 seem to be coming to much the same conclusion. The growth in this age bracket, according to the research, is 4.2%. By comparison, the percentage of 45 to 54 year olds starting a business has fallen by 3.6%.

And Londoners are leading the pack. This pattern of growth has been seen in every region of the country - but it's most pronounced in London. The Capital saw a 14% increase in owners aged under 34 over the last three years, and a decrease of 11% in owners aged between 35- 64.

Following this week's Budget, could things get even better for potential entrepreneurs? Stockwood certainly seems to think so: "More recently we were pleased to see the Budget announcements taking steps to support our budding entrepreneurs.

"We're encouraged by the introduction of a 'regulation holiday' for businesses in their early years, as new firms need nurture and support in their early years to help them go on to become successful businesses and employers of the future. Similarly the introduction of 21 Enterprise Zones also provides a real opportunity for encouraging start ups."

Of course, Smarta has been following the Budget mercilessly this week. Have a look at our round up of the Chancellor's announcements and the feedback from the business community.

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