Britain turning into nation of Del Boys as children look to aspect hustles
Around half of all Generation Z youngsters – those aged 18 to 29 – say they have started their own business or side hustle, the most of any generation
Youngsters are starting their own businesses like Derek Trotter(Image: Getty Images)
Britain is becoming a nation of Del Boys as millions of young folk look to side hustles and starting up their own businesses.
Around half of all Generation Z youngsters – those aged 18 to 29 – say they have started their own business or side hustle, the most of any generation.
They’re hoping emulating the antics of comedy hero Del Boy Trotter with money-making schemes will end up turning them rich in later years.
A poll of 2,000 adults revealed the flexibility that comes with being your own boss, like market trader Del, was the biggest reason for going it alone, away from a staff job.
While 18% of GenZers were driven by pursuing a dream, 12% wanted to use their business venture as an opportunity to help the planet.
In contrast, just 29% of Boomers – folk aged 62 to 80 – and 26% of Generation X – those aged 46 to 61 -have decided to branch out on their own.
And while flexibility is a key driver for young entrepreneurs, 25% of Boomers are too scared to step out of their comfort zone.
The research was commissioned by AXA UK as part of its annual AXA Startup Angel competition, which gives two budding business owners the opportunity to win £25,000 to help get their business off the ground, plus mentoring from successful startup owners.
Mike Crane, managing director at AXA Insurance UK – Commercial, said: “Running your own business can be tough so it’s great to see so many young people are willing to take the leap.
“Giving up a stable income for the unknown is perhaps more challenging when you’re further along your career journey but there’s no age limit to coming up with a winning idea.”
The study also found 17% of business entrepreneurs chose to run their idea past AI before consulting a friend.
The main reason was to check it was an original concept and to get clarity on next steps.
But 43% said they turned to AI first because they believed they could rely on it to keep a secret.
