Young guns go for it

By SIDDIKA KHALIQUE
Updated: 19:00 EST, 26 July 2001

MORE young men are turning their backs on the demands of office life to go it alone, particularly in the trendy hospitality industry, according to a new survey.

A survey for Alliance & Leicester questioned 2,000 people about their career plans. The research revealed that of the 5% intending to set up on their own in the next five years, men make up double the number of women - 7% versus 3%.

In fact, men under the age of 34 make up 41% of the group and London is the most popular business centre, accounting for 9% of small business interest.

The study found that the long hours and pressures associated with climbing the corporate ladder were steering younger people towards being their own boss, particulary in the hospitality industry in areas such as catering.

Technology is the second most popular sector for business start-ups. Despite the bursting of the dotcom bubble, it accounted for 12%. Here again, men lead the way. They are almost four times more likely than women to be planning to start up in the sector.

However, women come into their own in the retail sector, which makes up a weighty 10% of small business interest. It is here that women are three times more likely than men to become entrepreneurs - 17% versus 6%.

Few people expressed an interest in agriculture and manufacturing, reflecting widespread concern over these troubled sectors, in the wake of difficulties surrounding foot-and-mouth, coupled with limited resources and the cost of setting up from scratch.