Study - Does the young generation have an entrepreneurial spirit?
Starting a business of one's own is an appealing prospect for 40 percent of young people in Germany, according to a survey. Eleven percent of the 1,700 interviewees nationwide indicated they have already planned to start a business, while 29 percent are undecided. These findings come from a representative survey conducted by the Bertelsmann Foundation.
One-third of the respondents answered that starting a business before turning 30 is not currently an option they can envision, but they also cannot rule it out. The study was carried out in June 2023 and between February 23 and March 24, 2024. For approximately one-quarter of the young generation, a role as a founder or co-founder is not an option. The potential for more entrepreneurial activity in Germany among the young was summarized by the Stiftung in Gütersloh. To unlock this potential, barriers need to be removed.
Encouraging entrepreneurial mindset earlier
The analysis suggests that uncertainty, stress, and a lack of knowledge prevent many young people from starting a business. It is essential to foster entrepreneurial thinking and action earlier - for example, through workshops in schools. It is also evident that male youths plan to start a business more frequently than female youths. Interests are higher in large cities than in areas with a population of up to 5,000.
The fact that 40 percent express interest in starting a business is indeed a positive sign. However, the actual number of young people taking this step is likely to be much lower, it was stated. In Germany, only about one in six people between 18 and 24 years old started a business in 2023.
Lack of confidence and knowledge gaps
Among those who cannot imagine themselves in a founder role, a quarter attribute this to a lack of confidence in their competencies and the resulting insecurity. Approximately one in five doubts whether they possess the necessary knowledge. According to the Foundation, information about starting a business should be targeted towards young people, particularly through Social Media channels.
And: "A simpler access to startup capital would be beneficial for young entrepreneurs and young entrepreneurs. More startup grants, cheaper credits, and founder funds specialized for young people can contribute to this."
- The Bertelsmann Foundation, based in Gütersloh, Germany, highlighted that a significant portion of the young population in Germany is interested in starting their own companies, with 40% expressing such interest according to a survey.
- Companies in Germany could potentially benefit from a surge in entrepreneurial activity among the youth, as the survey conducted by the Bertelsman Foundation revealed that 11% of young people have already planned to start their own businesses.
- To unlock the entrepreneurial potential among the youth in Germany, as identified by the Bertelsmann Foundation's survey, it's suggested to address issues like lack of confidence and knowledge gaps through targeted information and easier access to startup capital.
