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Fear of failure tops start-up barriers for 18-24 year-olds
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Business Matters
Fear of failure is the biggest barrier to starting a business among 18-24 year-olds, cited by 29 per cent of that age group, according to new analysis of Funding Circle and Premiership Rugby’s Beyond The Pitch research.
Among 18-24 year-olds, building the right team ranked lowest of the barriers tested, on 18 per cent.
The order reverses among 45-54 year-olds, for whom building the right team was the number one challenge on 25 per cent, ahead of fear of failure on 19 per cent.
The stigma attached to business failure in the UK has been a recurring theme in debate over the country’s start-up culture.
Over-55s were also more likely to credit workplace experience, rather than sport, as the best preparation for performing under pressure, on 52 per cent against 28 per cent of 18-24 year-olds.