A total of 3.9 per cent of those in the 18-24 year-old category would pursue a socially minded enterprise, compared to only 2.75 per cent over 55.
The second annual Social Enterprise Monitor Report from London Business School, sponsored by Barclays, claims social entrepreneurship is an important phenomenon.
It says 3.2 per cent of the working age population or nearly 1.2 million adults are involved.
They are driven by the desire to make a difference.
Women are proportionately more likely to be social than mainstream entrepreneurs despite the fact that overall men are more likely to be social entrepreneurs than women.
The report found there is a greater likelihood that social enterprises will become not-for-profits or charities as they become more established.
Black Africans and Black Caribbeans are, respectively, three times and two times more likely than Whites to be social entrepreneurs.
The report's author, Dr Rebecca Harding, said: "The importance of understanding the motivations of social entrepreneurs and the role that the enterprises they establish have to play in generating wealth in the UK in terms of jobs and income as well as in terms of welfare, cannot be under-stated. Entrepreneurship has tremendous power to transform and change society.
"They may even be a better driver of regeneration and employment in deprived communities than orthodox activity.
"The Government is placing increasing emphasis on social entrepreneurship. If we are to build an entrepreneurial culture around this new, socially and environmentally sustainable business model then we should be attempting to change cultures and attitudes." ..SUPL: