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British business at risk of dwindling investment as millennials 'not interested'
(WebFG News) - Innovative British business faces serious risks in the future due to the lack of interest by millennials in investing, according to a new report.
A full 96% of millennials are not interested in building any form of investment portfolio, according to new research by investment app Dabbl of 2,002 adults.
Millennials, that is those people aged 25-34, are showing a lack of interest in building investment portfolios and are thereby failing to contribute to investment in businesses. Under-34s claim the process of investing is "too complicated" and just activity reserved for wealthy people, according to 72% and 62% of those surveyed, respectively.
Although 58% of millennials have considered starting an investment portfolio, hardly any go through with the idea.
The Dabbl poll revealed that millennials are interested however in investing funds in brands rather than on smart banking methods to generate profit. Over 50% of people asked think this approach generates better return and feel safer investing in brands that are always innovating and evolving.
Millennials are most likely to invest in technology brands, sport brands or football teams, fashion and drink and food brands.
The poll also found that there is a great difference in opinion depending on gender. Millennial males are twice as likely (69%) to consider investing in their favourite brands compared to women (35%).
Dabbl Co-Founder and CEO, Mark Ackred said: "The findings of this survey revealed the true extent of the lack of confidence, tools and know-how amongst young people in the UK when it comes to investing money. This is something that could have a real impact on the future of British businesses, who rely heavily on investment to grow and develop."
"The truth is, people with all ranges of income can begin building a portfolio - something that can hold them in good stead for the years to come. It doesn't have to be a complicated, confusing process - and we are calling upon all people in the UK who have considered dipping their toe in the world of investment to give it a go," he concluded.