Bristol entrepreneurs getting younger with 4 in 10 start-ups formed by under-30s last year

Almost 4,900 new companies were registered in the city last year with around 2,000 of these formed by young entrepreneurs, according to figures from The Accountancy Partnership.

This reflects a rise within the last five years as under-30s accounted for 30% of the number of new ventures started in 2017.

Uncertainty and economic disruption caused by the pandemic have seen a slowdown in recruitment, with 32% fewer vacancies in 2020 compared to the previous year according to the Office for National Statistics.

Lockdown restrictions have also impacted on sectors that traditionally employ younger people, including retail, hospitality and tourism.

The Accountancy Partnership said that more than two in 10 (23%) new business owners in 2020 created their business after being made redundant or furloughed from their current jobs.

It’s managing director Lee Murphy said that while the pandemic was playing a part in boosting entrepreneurialism among young people born in the mid to late 1990s, known as Generation Z, the rise was also reflective of a longer trend of social media making starting a business more achievable.

......PHD student Kaya Sinclair, 28 [Bristol Robotics Laboratory], started making artwork and jewellery using resin moulds as a hobby during lockdown and sharing pictures and videos of her handiwork on Instagram and YouTube under the name Nalla and Goat.

After receiving messages from followers wanting to buy her work Ms Sinclair, who is studying robotics and autonomous systems at both Bristol University and the University of West England, is now looking into registering Nalla and Goat as a business as she is now making money from her side project.

Despite saying there were employment opportunities in the field she is training in, Ms Sinclair said she would prefer to make her own business her full-time occupation.

“I think there are jobs for me in robotics as its one of those up and coming industries, so I’m not necessarily worried about my ability to get a job, it’s just I like the creativity I get from doing this project....."