New research highlights the growing trend of teenagers aspiring to start a business across the UK. And as young people await their A Level results on 14 August, many might be considering their options beyond university.
Data from Simply Business shows that three quarters of 16 to 19 year olds have ambitions to start a business, but something’s holding them back. The research also revealed that 36 per cent are already
making money from side hustles.
Want to win £5k?
If you’re aged 18-30 and have dreams of running your own business, enter the Young Entrepreneur Fund to be in with a chance of winning a £5,000 business grant – plus tailored business support to help you grow your business.
T&Cs apply. One entry per person and business. The Young Entrepreneur Fund promotion is open to UK residents aged between 18 and 30. For full eligibility terms visit simplybusiness.co.uk/campaign/young-entrepreneur-fund. Competition closes 23:59 on 9 Oct 2025. Simply Business will announce winners on or before 21 Nov 2025.
Barriers to building a business
Our survey of 500 young people aged 16 to 19 identified the biggest obstacles they face. The top three barriers are all about a lack of support.
51%
lack of funding
46%
lack of mentorship
61%
lack of business education in schools
How to help the next generation of founders
Our data also shows that only half (55 per cent) of this new generation of business owners view higher education as their only viable option after leaving school. This highlights a critical need for new pathways and support systems.
Encouraging this entrepreneurial spirit and tackling the leading barriers to entry, Simply Business has partnered with entrepreneur, social mobility advocate, and musician Stephen Manderson – better known as Professor Green – to launch the Young Entrepreneur Fund.
The fund, which launches on 14 August, will give away:
- £5,000 each to ten young business owners
- six weeks of tailored business support with Hatch Enterprise
Runners up will also receive mentoring sessions with Harpreet Kaur – founder of Oh So Yum and winner of BBC’s The Apprentice.
Business owners aged between 18 and 30 can apply for the Young Entrepreneur Fund here. Entries will be judged by an expert judging panel – including Professor Green, Harpreet Kaur, and Simply Business UK CEO Julie Fisher.
T&Cs apply. One entry per person and business. The Young Entrepreneur Fund promotion is open to UK residents aged between 18 and 30. For full eligibility terms visit simplybusiness.co.uk/campaign/young-entrepreneur-fund. Competition closes 23:59 on 9 Oct 2025. Simply Business will announce winners on or before 21 Nov 2025.
What motivates young business owners?
According to our data, their motivation is driven by a desire for independence and control over their future.
49%
independence
48%
financial freedom
35%
passion
It’s clear from the data that this generation isn’t just looking for a job, they’re looking to create their own future.
‘Not everybody needs a degree to be successful’
Speaking of the fund, Professor Green said: “I didn’t take the conventional route – I left school without any qualifications and I definitely didn’t get anywhere near university. No grades, no safety net, just a lot of graft and figuring things out as I went.
“I know loads of young people feel the same right now. You’ve got ideas, ambition, but no one’s showing you how to turn that into something real. That’s why this initiative matters. It’s about giving people the backing they need to bet on themselves, which in turn helps to support local communities.
“Not everybody needs a degree to be successful – but you do need belief, support, and a chance. That’s what the Young Entrepreneur Fund is offering.”
‘A treasure trove of opportunity’
Simply Business UK CEO Julie Fisher says: “We’re incredibly proud to launch the Young Entrepreneur Fund today to empower the next generation of UK business founders. Our research tells a compelling story: millions of young people dream of being their own boss, yet only a fraction are able to turn that ambition into a reality. This disconnect is a challenge we must address.
“Small businesses and entrepreneurs are the lifeblood of our communities and economy, and this entrepreneurial spirit represents a treasure trove of opportunity.
“Through this initiative, we’re not only providing vital funding and mentorship, but we’re also championing the incredible opportunities that entrepreneurship offers. I am personally looking forward to reviewing the entries and seeing the incredible innovation and talent on offer.”
More guides for young business owners
- Best side hustles – how to make extra money
- Small business ideas – best businesses to start yourself
- Small business funding and investment: how to grow your business
- How to budget: a budget calculator and guide for the self-employed
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