The number of teenagers setting up businesses has increased eightfold in the past decade, a study has found.
The rise from 500 in 2009 to more than 4,000 has been driven by technology startups, according to the Brighton-based financial services provider OneFamily, which commissioned the research.
Entrepreneurs such as Steve Jobs, Sir Richard Branson and Mark Zuckerberg were said to be among the most inspirational figures to young people interested in starting businesses.
Youth-run businesses were most likely to be focused on technology, clothing or accessory lines, entertainment or media, food or drink, or health or beauty products, the study indicated.
Nici Audhlam-Gardiner, of OneFamily, said: “Generation Z were born after Google and have grown up with social media, so it’s no surprise that these teens are already using their networks to help build their career. We also know that many are already making money from it.
“This way of working gives young people the chance to bring in some extra money, and provides them with the opportunity to try out different careers and get used to managing and saving their earnings for the future.
“If your teenager shows a passion for starting a business, we’d encourage parents to see the benefits of their children working while studying at school or further education. The lessons that starting a job can instil, from a strong work ethic to earning and budgeting, is invaluable, particularly during the teenage years.”
