“Attitudes towards entrepreneurship have shifted. Increasingly, young people see entrepreneurship as a way of changing the world instead of simply a way of making money.”
Today marks the launch of an important report in the entrepreneurship sector: Tomorrow’s Entrepreneurs – What they think, how they work, and what sets them apart.
Developed by The Entrepreneurs Network (TEN) and Youth Business International (YBI), this report explores the values, ambitions, and habits of the next generation of entrepreneurs in the UK, highlighting their approaches to business and the shift towards more green and social enterprises.
It also identifies barriers to entrepreneurship, making practical and policy recommendations to support young entrepreneurship to be a force for good
As YBI’s UK member Hatch was pleased to be involved in the development of this report, with two of our graduates Sophia Ukor and Jade Adams-White featuring as case studies.
It was also great to be invited to the launch in the House of Lords today to meet decision makers in the entrepreneurship space, but particularly to support Sophia who was a key speaker at the event, sharing her experiences as a young entrepreneur.
Also speaking at the event were Katrina Sale (APPG for Entrepreneurship), Baroness Jenkin (Member of the House of Lords), Jo Gideon (Member of Parliament), Anita Tiessen (YBI), and Jill Huntley (Accenture), all passionate about supporting young entrepreneurs to thrive.
As the only young entrepreneur speaking, Sophia’s insights were hugely valuable to all attending and she did a brilliant job of representing the voice of all young entrepreneurs.
In her speech she explained: “Inclusive entrepreneurship aims to offer all people an equal opportunity to create sustainable businesses regardless of their background, age or gender, and often that involves some sort of levelling up provisions to account for the opportunity disparities that occur in populations by default.
“It’s incredibly difficult to build a company or organisation or something that you’re very passionate about without any support.
“Hatch Enterprise works with Youth Business International and provides an incubator setting for what an entrepreneur needs to thrive, to learn skills, and to build networks that are critical to the success of any business
“And the support that they have given me has provided me and helped me to find a new community of entrepreneurs and business leaders who have actively helped me and still help me, both in terms of developing useful networks and as well as building my confidence.”
Hatch supports underrepresented founders from across the UK to grow sustainable, impactful businesses, and it’s that impact-focus that is defining the next generation of entrepreneurs
New research revealed in this report shows that young entrepreneurs compared to those over 35 are:
- Twice as likely to say their business’ primary aim is to solve a social or environmental problem (39% to 18%)
- More likely to choose suppliers which do good for society, even if they cost more or they have to compromise in some other way (51% vs 36%)
- More likely to say their business focuses on promoting diversity and social good, even if that comes at the expense of profit (41% to 25%)
At Hatch we can’t wait to see the new ideas that the next generation of entrepreneurs bring, driven by the passion to create a better world through their business.
It’s an exciting time to launch a business, and at Hatch we will be there to support young entrepreneurs every step of the way.
Find out how we can support you:
