Young people are in a good position to become entrepreneurs as they have the freedom to take risks, according to one expert.
A spokesman for Eastside Consulting said today that lack of dependents and long-term financial commitments such as a mortgage means that for young people there were "a lot of advantages".
Richard Litchfield, managing director of the group, which offers support and advice to small and medium-sized businesses, said that entrepreneurs need a fine balance of a good idea and a solid business plan and that youth can also count ion their favour.
"We see a lot of entrepreneurs in their twenties who have a dream - an idea - and they want to make it happen rather than going down the route of a corporate career," he said.
They have a lot of advantages in one way as they don't have the personal expenses such as big mortgages and a family and things like that, giving them more freedom to take on the entrepreneurial risk of investing a lot of time and capital.
According to a recent study new business start ups by under 25s had grown by around 15 per cent during the first half of 2007 in comparison with the previous year.
