Frontpage News 2015 What characterises...

What characterises the entrepreneurial youth?

29 April 2015

​Study: Young people with a great entrepreneurial spirit are characterised by being more willing to take risks, independent and flexible in relation to income and working method compared to young people without entrepreneurial dreams.
 
In a survey, the Danish Bankers Association has asked young people across the country’s upper secondary schools, who participate in the entrepreneurship competition European Business Game (EBG), about their desire to become an entrepreneur and the special characteristics associated with this desire.
 
Overall, the study shows that every second young person who participates in EBG has an entrepreneurial spirit. Thus, about 50 per cent state that they “strongly agree” or “agree” with the statement: “I want to become an entrepreneur”.
 
___________________________________________________

The Danish Bankers Association’s survey in connection with EBG

EBG is a European entrepreneurship competition for STX and HHX students about establishing the best fictional company. Behind the Danish competition are the Teachers of Operating Economics (STX), the Teachers of Business Economics (HHX), the Danish Ministry of Education and the Danish Bankers Association, which is also the main sponsor of EBG. Moreover, the Danish Commercial Industries Federation participates as cooperative partner.
 
In connection with EBG, the Danish Bankers Association has carried out a survey, which aims to clarify the participants’ entrepreneurial spirit and special characteristics associated with this. The Danish Bankers Association’s survey was conducted in November 2014 and prepared on the basis of a survey among the 1,418 students who were signed up by the registration deadline. Out of the total number of participants in EBG, 321 persons have answered the questionnaire, and the overall response rate is therefore 22 per cent.
 
The total respondent group is divided into categories based on their entrepreneurial spirit. The category high level of entrepreneurial spirit covers persons who strongly agree or agree with the following statement: “I want to become an entrepreneur”, while the category with no or low level of entrepreneurship spirit covers persons who strongly disagree or disagree with the statement.
___________________________________________________
 
 

Entrepreneurial young people are independent and more willing to take risks

The study shows that young people with an entrepreneurial spirit are characterised by a higher level of risk tolerance compared to the group which has a low or no interest in becoming an entrepreneur.
 
80 per cent of the students who express an entrepreneurial spirit indicate that they are willing to take risks. Among the students who do not want to become entrepreneurs, only 17 per cent is willing to take risks.
 
 
Figure 1: Willingness to take risks among students with and without an entrepreneurial spirit
Source: Danish Bankers Association.
Note: The above is based on a questionnaire, which the Danish Bankers Association has conducted among young people who participate in European Business Game (EBG). The differences are significant measured at a significance level of 95 per cent.
 
Moreover, the results show that 79 per cent of the group with an entrepreneurial spirit agrees or strongly agrees with the statement that they go their own way, while this applies for 57 per cent of the young people without an entrepreneurial spirit. 
 
 
Figure 2: Independence among students with and without an entrepreneurial spirit
Source: Danish Bankers Association.
Note: The differences are significant measured at a significance level of 95 per cent.
 

High degree of flexibility in income and working method

Young people with an entrepreneurial spirit are not only characterised by greater risk tolerance and willingness to go their own way, but are also more positive towards varying levels of income.
 
Only 37 per cent of the students who are interested in entrepreneurship indicate that they prefer a fixed income rather than a variable income. Among the students without an entrepreneurial spirit, this share is 90 per cent.
 
 
Figure 3: Preferred type of income among students with and without an entrepreneurial spirit
 
Source: Danish Bankers Association.
Note: The differences are significant measured at a significance level of 95 per cent.
 
To uncover the correlation between entrepreneurial spirit and working method, the respondents in the Danish Bankers Association’s survey have also been asked about the interplay between work and leisure.
 
The results show that the need for a clear distinction between work and private life is lower among the group of students with an entrepreneurial spirit. Thus, 40 per cent of the students prefer a clear distinction, while this share is 73 per cent among the group without an entrepreneurial spirit.
 
 

Figure 4: Preferred type of work among students with and without an entrepreneurial spirit

Source: Danish Bankers Association.
Note: The differences are significant measured at a significance level of 95 per cent.
We gather statistics by using cookies. If you continue using the site, you automatically agree to this. Reject here