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- 53% of cost-conscious 16-24 year-olds would use their savings to start a venture.
- 67% of young entrepreneurs said they expected their new business to turn a profit after a year, one in ten thought they would be in profit from the outset and another 14% thought they would be in the black after 18 months.
- 37% said they would seek a bank loan, and 16% a personal loan. 17% say they would go to crowdfunding, or peer-to-peer websites to raise capital.
- Nearly a third (32%) say having an established social media network is essential for business.
- More than a third (36%) acknowledged that access to cash was likely to be the biggest single challenge for any start-up, while 22% believed it would be competition from established businesses.