The largest, annual survey of social entrepreneurial activity in the United Kingdom shows that young people are more likely to be social entrepreneurs than any other age grouping. 3.9% of those in the 18 – 24 year-old category would pursue a socially minded enterprise, compared to only 2.75 of those over 55. Similarly, education is a strong predictor of social entrepreneurial activity, and those in full time education are the most likely group to be SEA active (5%).
This is one of the key findings of the second annual Social Enterprise Monitor Report from London Business School.
Other key findings include:
* Social entrepreneurship is an important phenomenon across the UK at some 3.2 % of the working age population or nearly 1.2 million adults. Social entrepreneurs are a distinct group with more positive attitudes than the general UK adult population but less positive attitudes than mainstream entrepreneurs.
* Social entrepreneurs are a distinct group of individuals with definite and more positive attitudes towards enterprise than their traditional entrepreneurial counterparts, and are driven by the desire to make a social or community difference, but constrained by the very realistic fear of not getting finance.
* Which means that, is social entrepreneurs become more experienced, it appears from the data that they become more disillusioned with entrepreneurship and see fewer opportunities, are more likely to fear failure and less likely to see it as a good career choice.
* Women are proportionately more likely to be social than mainstream entrepreneurs despite the fact that overall men are more likely to be social entrepreneurs than women (3.6% compared to 2.8%). The percentage of women managing an established social enterprise is marginally higher than those managing a baby enterprise, while for men there is no difference in these two activities.
* There is a greater likelihood that social enterprises will become not-for-profits or charities as they become more established, but even so, the majority of enterprises are not charities either at the baby or the more established stage.
* The profile of financing is similar to that of mainstream entrepreneurs. However, social entrepreneurs are proportionately more likely to have failed to gain access to finance because of the nature of their business. Interestingly, inadequate business planning is not the largest factor for established social enterprises, but unwillingness to share and the costs of finance are.
* Those in rural locations are more socially entrepreneurial than those in urban regions.
* Black Africans and Black Caribbeans are, respectively, three times and two times more likely than Whites to be social entrepreneurs.
To Learn more get the report on Entrepreneurs