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Young Scots rarely think of starting own business

ALMOST two thirds of young Scots have never considered owning their own business, according to gloomy figures released yesterday by the Prince's Scottish Youth Business Trust and Royal Bank of Scotland.

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At the same time, however, most young Scots named car dealership supremo SirArnold Clark as the most inspirational businessman north of the border.

Nonetheless, the survey also revealed that around 42-per cent of young Scottish people believe themselves to be incapable of setting up and running their own businesses.

Mark Strudwick, chief executive of the PSYBT, said: "The results of this survey demonstrate the mountain we have to climb in Scotland to create a culture of ambition, success, and entrepreneurship amongst our young people."

The PSYBT/RBS Young Scots Success Survey? which was designed to assess changing attitudes among young people aged between 18 and 30 to success, business and entrepreneurship, coincided yesterday with the launch of this year's search for the prestigious PSYBTYoung Entrepreneur of the Year.

Strudwick added: "The results (of the survey) make us even more determined that young people are made aware of the support and funding available to pursue their ambitions."

The survey also found that males were twice as confident as females when it comes to setting up and running a business.

Other findings revealed that more than half of those surveyed considered financial support from a bank as critically important to the success of a business.

Entrepreneur Duncan Bannatyne, of Dragon's Den fame? said: "Self-employment is not for everyone, but it should be one of the career options considered by the youth of today.

"We need to continue to make entrepreneurship a populist activity, which everyone can aspire to. I look forward to the day when young people are asked, 'What will your first business be?' compared with 'What are you going to do for a job'."

Meanwhile, the survey also asked which Scottish company young Scots considered the most successful. Royal Bank of Scotland Group came out ahead with 38-per cent of the vote. ScottishPower came second with 17-per cent, and Arnold Clark Automobiles was third with 8-per cent.

However, survey respondents were also asked about well-known Scots who inspire them. In the business sector, Sir Arnold Clark was cited by 35-per cent of respondents, and Rangers chairman and businessman David Murray came in second place with 9-per cent.

The national final of the PSYBT/RBS Young Entrepreneur of the Year awards will take place in November.

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