Beta Generation – How Are Young People Surfing the Crisis?

Vinspired has relaunched its insightful report on the “Beta Generation,” in collaboration with global law firm Herbert Smith Freehills and global consultancy Tata. This report delves into the attitudes, ambitions, and employment views of young individuals aged 16-21, known as the Beta Generation. The term “Beta,” commonly associated with technology testing, symbolizes this generation’s growing inclination to experiment and embrace failure as a learning opportunity.

Understanding the Beta Generation

The research highlights a significant trend where young people, who all turned 16 after the 2008 financial crisis, are demonstrating entrepreneurial qualities. They identify as resilient (73%), self-motivated (81%), and proactive (81%). Notably, 33% are utilizing the internet for self-education, showcasing their digital literacy and IT skills.

However, the report also sheds light on the disparities in opportunity and self-belief, particularly among young individuals not in education, employment, or training (NEET). While 27% of all young people aspire to entrepreneurship, only 30% of NEETs consider exploring alternative career paths.

Call to Action for Government Support

Vinspired’s CEO emphasized the need for government intervention to harness the untapped entrepreneurial potential of the youth, especially as the 16-24 NEET Review progresses.

Event Highlights

The launch event featured a keynote by broadcaster and journalist Paul Mason, alongside insights from Richard Tyrie, founder of Good People UK, and entrepreneur Caroline Odogwu. Caroline shared her journey of entrepreneurship, supported by a Vinspired Cashpoint grant, stressing the role of digital platforms in facilitating young entrepreneurial ventures.

Despite her success, Caroline acknowledged the challenges faced by young women in entrepreneurship, emphasizing the importance of confidence and support in overcoming barriers to business creation.

Explore More

Discover more about the Beta Generation and its impact by visiting our research website.

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