About 75 percent of people younger than 40 have started or want to start their own business to overcome persistently low wages, a 1111 Job Bank survey released yesterday showed.
The figure rose to 78 percent among people aged 21 to 25, the survey showed.
Respondents cited low wages as one of the biggest motivators for entrepreneurship, with more than 60 percent of those who want to start their own business having a monthly income of less than NT$35,000.
Other motivating factors included personal interests, hobbies and dream fulfillment.
Respondents who have already started their own business said they have seen an average NT$22,000 increase in average monthly income to NT$59,298.
They also work an average of 33 hours per week, less than the 40-hour weeks most people work, the survey found.
Multiple trends, including low wages, high unemployment and the rise of artificial intelligence, big data and social media have prompted young people to start their own business, 1111 deputy general manager Lee Da-hua (李大華) said.
The survey, which received 924 responses and was conducted between Nov. 9 and Wednesday, had a confidence level of 95 percent and a margin of error of 3.22 percentage points.
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