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Featured in the Simply Business & FSB Generation Entrepreneur Report!

Louis Websdale

Simply Business & FSB recently released their 2025 Generation Entrepreneur Report, outlining many aspects related to young entrepreneurs in the UK. I was very proud to have been included in the report and read on to find out some of the key takeaways from it!

About the report

This report was created by Simply Business and the Federation of Small Businesses (FSB) and “offers in-depth recommendations to government bodies, local councils, and industry bodies like the Competition Markets Authority that will make it easier for young entrepreneurs to launch, run, and grow their own business.”

It is based on an online survey administered by YouGov. The survey questionnaire was completed by a total of 2,079 people aged 18-34. It was brilliant to have been included in the report alongside many great entrepreneurs, working hard to run their own businesses.

“This report provides a voice for our youngest business owners – they’ve set the vision and FSB and our partners at Simply Business have listened. We call on the Government to work with us to empower young people now and in the future.”

Tina McKenzie MBE
Policy and Advocacy Chair, Federation of Small Businesses

Spotlight: Side Hustles

I was featured within the Side Hustles section of the report, having started up my business off the back of starting a video editing side hustle from the age of 14. 28% of people surveyed in the report had a side hustle with this number still increasing; I also see and hear this more and more from conversations that I have on a day-to-day basis.

Here are some key stats on this topic:

Young people aged 18-20 (31 per cent) and 21-24 (37 per cent) are more likely to run a side hustle than those aged 25-29 (26 per cent) and 30-24 (22 per cent).
Young people in London (40 per cent) are more likely to have a side hustle than anywhere else in the UK, compared to 19 per cent in the East Midlands.
Young people from an ethnic minority background (44 per cent) are more likely to say they have a side hustle in comparison to young white people (24 per cent).

Having a side hustle can be very helpful to dip your feet in the water of how running a business could be without having to quit full time employment. It is a great idea if you’re unsure as to whether you’d like to start a business but would like to test things out. In the report, it explains that some people use side hustles for extra cash, while others are slowly building them into full-time businesses.

Hair by Grace, London

Key Takeaways

Here are some key takeaways from the Generation Entrepreneur Report:

Young people are more entrepreneurial than ever

Nearly 60% of young people either run a business or want to start one – but only 16% have actually done it.
The biggest motivation? Making money (52%). Others want to follow a passion (29%) or have spotted a gap in the market (15%).

Plenty of barriers to success

Lack of proper business education, trouble getting finance, and not enough regional support make things harder than they should be.
Your background plays a big role – those from wealthier families are more likely to get financial help from parents or friends.

Schools aren’t teaching business skills

Enterprise education isn’t built into the school curriculum, so a lot of young people leave without knowing how to start or run a business.
Only 35% of young people in England say their school gave them any real knowledge or guidance about entrepreneurship.

Social media is a game-changer

65% of young entrepreneurs use social media to promote their business, with Instagram being the most popular.
14% of young entrepreneurs (18-20) say they were influenced by people they follow online.

More role models needed

Only 8% of young entrepreneurs say they’ve been inspired by a business role model.
Women and ethnic minorities in particular feel there aren’t enough relatable role models out there.

What needs to change?

Schools should teach business skills properly – it should be part of the curriculum.
More funding options are needed so young people aren’t relying on personal savings or risky loans.
Local councils should step up with better business support, not just in big cities.
The government needs to take youth entrepreneurship seriously – it’s a massive driver of economic growth.

Significant Stats

Within the report, it explores significant statistics related to young entrepreneurship, many of which I relate to.

Here are some key stats which show the current state of affairs in Generation Entrepreneur:

35% of young people who attended secondary school in England say their secondary school provided them with the knowledge, guidance, and support regarding setting up a business. We refer to this as exposure to enterprise.
Almost 60 per cent of young people say they currently own or are interested in owning a business. But only 16 per cent of young people actually have a business or are in the process of setting one up.
35% of young people that are limited a lot by their disability or health condition say they chose to set up a business due to a negative experience in employment
36% of young people who attended university say it provided them with the knowledge, guidance, support regarding setting up a business.

As you can see, young people are becoming more and more likely to start their own business but the support within institutions such as secondary schools could be increased to help young entrepreneurs even further. The report also explores how gender, location and ethnicities can affect a young person’s likelihood to want to start or own a business – I’d recommend checking these stats out too!

Rounding up

These pieces of research are vital to understand what young people are feeling and what potential improvements could be made in order to make young people feel more supported and equipped with tools to go into the corporate world.

Big thanks again to Simply Business and the Federation of Small Businesses for the opportunity to be included within this significant report.