The amount of companies started by young people has risen by 70% since before the recession, according to research by Duedil and Enterprise Nation.
In 2006 there were 145,104 new companies formed by under-35s, rising to 247,049 in 2013.
The research showed a significant gender bias, with 74% of these new companies being formed by men.
Co-founding businesses has dropped in popularity, with only 42% launching with a partner in 2013, compared to 66% in 2006.
Other research has also highlighted the growing popularity of self-starting amongst young people. A study by UnLtd found that 55% of young people aged 16 to 25 now want to set up their own firm.
Emma Jones, founder of small business network Enterprise Nation, said:
“These statistics show that younger generations are no longer pinning all their hopes on finding the perfect job, they are taking their destiny into their own hands and creating a business around a skill, a passion or a hobby.”
However, there is a large gap in how many young people want to start a business and how many actually do it.
Research from Shell LiveWIRE and Youth Business International found that although 18% of young Britons have a business idea they believe in, fewer than 4% actually go on to found a successful company.
Image by World Bank