More than half of workers ‘have considered becoming an entrepreneur’

Around a third of younger adults feel empowered to start their own business

The survey of working people also found more than half (53%) have considered becoming an entrepreneur (Alamy/PA)

Artificial intelligence is significantly boosting the entrepreneurial ambitions of young people across the UK, a new survey suggests.

The research, conducted for travel franchise company Travel Counsellors, found that approximately a third of 25 to 34-year-olds (36%) and 16 to 24-year-olds (32%) feel more confident about launching their own businesses thanks to AI.

This empowerment stems from AI's ability to automate various business processes, including handling customer inquiries, managing routine tasks, and providing analytics.

The survey of working people also found more than half (53%) have considered becoming an entrepreneur.

More than a third (37%) of those surveyed said AI enhances their current job role, rising to more than half (51%) of 25 to 34-year-olds.

But more than a third (36%) of workers feel less optimistic about their current role due to the uncertain economic climate and more than a quarter (27%) are starting to explore other career options.

The strongest perceived attractions for starting a business included the potential to make more money (34%) and achieve a better work-life balance (28%), the research indicated.

The potential to make more money and have a better work-life balance are among the perceived attractions for workers considering becoming entrepreneurs, Travel Counsellors said (Dominic Lipinski/PA) (PA Archive)

A quarter (25%) of people said flexible hours were the biggest attraction while 24% said they wanted to be in control.

The research also found a lack of finance and fear of failure are among the barriers in the way of some people considering starting their own business.

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Matt Harding, director of franchise sales at Travel Counsellors, said: “The findings suggest a fundamental shift in how British workers perceive AI.

“It’s no longer viewed as just a productivity tool – aspiring entrepreneurs, particularly younger generations, are now using it to help launch and grow their own businesses.”

The survey among more than 2,000 workers across the UK was carried out by Censuswide in December.