Young Londoners ‘held back’ by lack of entrepreneurial role models
The majority of young people in London may be being held back due to a lack of relatable entrepreneurial role models.
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A new survey by Entrepreneur First revealed top business icons such as Lord Alan Sugar and Sir Richard Branson no longer inspire the capital’s younger generation and highlighted a huge absence of suitable role models.
Almost three-quarters of 18 to 30-year-olds said they lacked a role model that matched their values, despite roughly half of respondents relating to the typical values of an entrepreneur.
While young people may be lacking inspiration, the report showed they are not lacking motivation. Almost 60 per cent said they thought they were more ambitious than their parents’ generation, while just under half saw setting up their own business as their ultimate professional goal.
However, these ambitions were tempered by financial concerns, as roughly 40 per cent of young Londoners were worried they might be worse off financially than their parents.
“The next generation of talent in the UK is evidently ambitious, but is being held back by a lack of role models,” said Matt Clifford, Entrepreneur First co-founder and chief executive.
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“Lord Sugar and Richard Branson are rightly respected for what they’ve achieved, but if the next generation can’t relate to them, surely it’s time to retire these individuals as the go-to entrepreneurs.”
Main image credit: Getty