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Top tech stats: Business growth, Gen Z’s charitable giving and more

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Welcome to your round up of some of the past week’s most interesting surveys, statistics and reports relevant to those involved in the UK tech industry.

This week, we have statistics relating to the average age of European tech founders, Gen Z’s digital giving preferences, online shopping security and business growth.

Entrepreneurs in Europe

Europe’s top technology entrepreneurs typically found their companies by the age of 30, despite often lacking significant corporate and financial experience.

Top tech stats: Virgin’s business predictions, developers have their say and more

The research released by DHR International shows that the average age of founders when their companies were established was 29.7 years old.

The companies included in the research include well-known technology firms such as Spotify, Minecraft and Just Eat, whose founders were 23, 31 and 30 respectively when they set up their businesses.

According to the research, the European average age is somewhat younger than those of entrepreneurs starting businesses in Silicon Valley (which is 31).

Gen Z’s digital giving

Some 72% of 18-25 year olds in the UK say they would donate small amounts of money on a mobile app to charities across the globe.

The same research, which surveyed 1,000 18-25 year olds across the country, found that 74% of young people already give to charitable causes.

Moneymailme, the firm that carried out the survey, found that being able to donate using convenient technology was a key aspect for young people, half of whom (48%) believe physical money will be obsolete within the next two decades.

Additionally, 62% of those surveyed said they felt frustrated if they were forced to make purchases with cash.

Interestingly, more than a third (35%) said they would use a mobile app to donate as long as they could see where the funds were going. Nearly a quarter (24%) would do so as long as there was no charge.

Moneymailme CEO Mihai Ivascu said: “It’s clear that despite young people being on the lower end of the pay scale, they have a strong social conscience and a desire to help others.

“Technology is also incredibly important to this generation so they are keen to make charitable donations using the technology they already engage with on a daily basis. Even if it is just a small amount being donated, it soon adds up when so many people are engaged with supporting charity efforts in our increasingly globalised world,” Ivascu concluded.

Website security

New research by Expressly has revealed 70% of Brits do not know how to tell if a website is safe to buy from.

This, the report highlights, is despite 92% of people being aware that there are risks associated with online shopping.

Some 29% in the UK are concerned about the potential of falling victim to fraud whilst shopping online, hence why the favour shopping on reputable websites, despite not necessarily knowing what makes them reliable.

Nearly a third (28%), shopping on sites which have a human element, such as customer reviews, makes the overall experience feel more secure.

The research has also shown there to be a lack of education between different age groups. Although shopping via a computer is the most popular option, the younger demographics (18-24, 25-34) were 30% more inclined to use smartphones and tablets.

Contrastingly, 56% of the older demographics (55+) favour shopping exclusively via computer or laptop, which could indicate a gap in the level of trust that the different age groups have when deciding which device is safe to use.

Business growth

New research has revealed that having a website will help a business achieve more growth than having a presence on social media.

A survey of over 2,000 small and micro-businesses by website provider 123 Reg found that businesses with a website were 51% more likely to grow than those without.

Those that used Twitter were 38% more likely to grow, while those using Facebook saw 46% growth.

Interestingly, the research also revealed Pinterest is the social media platform which helps small businesses achieve growth more than any other social media channel: with 54% of those who used Pinterest finding that their businesses experienced growth.

Nick Leech, digital director at 123 Reg,said: “It’s really important to see the impact the gap in digital skills is having on small business growth and to identify the areas that businesses could focus on to improve growth.”

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