A GROWING number of young people would rather start their own business than work for someone else, new research claims.

A survey of more than 1,000 people aged between 16 and 25 showed half wanted to go it alone in the business world. One in 10 had started planning to launch a firm while a further one in four said they would be ready within five years.

Chris Humphries, director general of qualifications body City and Guilds, which commissioned the research, said: "It's reassuring to see that many young people today are extremely ambitious and possess real entrepreneurial spirit."