Entrepreneurship looks like it may very well be the next big wave for young people.

In the US, the amount of people who freelance for business purposes is about 35 percent. In the UK, the number of freelancers rank in at about 42 percent. The BBC reports that in the last 10 years, the number of UK teenagers who have started their own business has surged by 700 percent. These businesses range from cosmetics to fitness to technology and beyond.

According to 19-year-old business owner George Bailey, professors and administrators from the University of East Anglia (where he attends college) encourage the entrepreneurial spirit in each of their students. They even invested $50,000 into Bailey’s business, Coral Eyewear, which makes eyewear out of recycled plastic and fishing nets. This investment comes as part of an entrepreneurial fund the school has set up to help young people get a head start on their passions.

The BBC article quotes Bailey as telling Radio 1 Newsbeat, “At first it started off as a side project. It can be hard to juggle because at first I was running it on my own with my co-founder. But as time has gone on we’ve got some more people working for us, which makes it easier.”

Financial services provider OneFamily found that in 2009, 491 businesses were run by teens. Now, there are 4,152. Nearly one in five teenagers said they would rather be their own boss than work under someone else. It’s only logical to assume this trend will continue on an upward streak.