Balearic young business people believe red tape holds them back

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ONE out of three youths in the Balearic Islands would like to open their own business but 70.2 per cent of them believe it is too complicated, says a new report.

The study was carried out by Adecco Young Entrepreneurs, who conducted 3,000 interviews with people aged below 30, 250 of whom were from the islands.

According to the report, 29.8 per cent of youths in the Balearic Islands said that, even though creating a new business was difficult, they believe it to be a completely viable endeavour.

In addition, the study found that the number of women who would like to become entrepreneurs (57.2 per cent) outnumbered men (52.3 per cent), while youths between 25 and 30 years old were more willing to do so (62.2 per cent) than those whose ages ranged between 18 and 24 years old (37.8).

Amongst the reasons behind the wish to start a business was the satisfaction of creating something on their own (24.6 per cent), having an idea they believed could be successful (16.1 per cent) or the goal of having personal independence (also 16.1 per cent).

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