Kids who start a business in school more likely to run their own enterprise
Schoolchildren who set up their own business are almost twice as likely to run their own enterprise later in life, according to a new study.
Research by Kingston University Business School has indicated that 42 per cent of teenage entrepreneurs go on to manage their own business in adult life, whereas only 26 per cent of those who didn’t start a business early do so later in life.
The researchers came to their conclusion using a sample of children who have attended programmes set up by the Young Enterprise charity. Pupils who take part in these courses are able to learn the skills needed to run a successful business or start a franchise.
According to bedfordtoday.co.uk, participating pupils tended to create businesses that were more successful than the average British start-up, too. What’s more, the study indicated that businesses ran by Young Enterprise Alumni were four times more likely to turnover £500,000.
In an interview with hastingsobserver.co.uk, Young Enterprise manager Wendy Gorham heralded the benefits of teaching children business skills whilst they are still young.
She said: “Mentoring young people is incredibly rewarding for both parties. Our mentors say it makes them better employees in the workplace, as working with young people sharpens their skills, for example in management, delegation, teamwork and motivation.”