More Than 26,000 Businesses in the UK Run by Young Entrepreneurs

By   May 20, 2015

New numbers released by consultancy firm Procorre showed that there are more than 26,000 entrepreneurs under the age of 21 who are listed as directors of companies in the UK today.

According to the report, one main reason for the increase of entrepreneurs in the nation is the what’s known as “app economy”, that is the development of mobile applications for smartphones and tablet devices. Some experts go even so far as to talk about a new “Generation Entrepreneur” seeing how many young people today are being successful in this field.

The study highlights several successful entrepreneurs as examples, such as Ella Woordward who is the founder of Deliciously Ella, a website that gets over 150,000 visitors per day or entrepreneur Ross Bailey with his successful shop booking platform Appear Here.

While Great Britain’s unemployment rate amongst the youth is still sitting at a high 16.2%, the U.K.’s technology sector is expected to grow four times faster compared to the nation’s GDP this year. As a result of this, tech firms in the UK are expected to see 11% growth and along with it many more opportunities for aspiring entrepreneurs.