Number of UK companies run by under-30s reach unprecedented levels

 
Oliver Gill
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Some youngsters found it hard to get a job after the credit crunch (Source: Getty)

The number of company directors under 30 has smashed through the 300,000 mark for the first time ever.

There are 311,550 directors of UK firms aged 29 or under, mid-tier accountancy firm Moore Stephens said.

Millennials and improvements in technology were cited as two reasons for growing numbers of younger directors.

Read more: UK tech boom leads to surge in young directors

“Highly intelligent and motivated graduates faced an incredibly tough time finding a job in the years following the recession in 2008," said Moores Stephens partner Mark Ayres.

“Many decided to take matters into their own hands and start their own companies – often ‘challenging’ and ‘disrupting’ the status quo.

He continued: “Of course, a major contributing factor to this has been the rise of machine learning, artificial intelligence and blockchain technologies.

“Technology gives entrepreneurs – no matter who they are or where they come from – instant access to millions of potential customers across the globe.”

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