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Youth charity calls for more business start-ups

Almost two in five young people in the North East would like to start their own business but worry that only well-off people can afford to go it alone, according to a research by youth charity The Prince’s Trust.

The report, released to mark 25 years of The Prince’s Trust Business Programme, revealed that 38% of young people would like to start their own business, but less than 6% have actually done it.

Forty-four per cent of young people in the region think today’s entrepreneurs are most likely to be white, middle-class, middle-aged men.

Forty-three per cent cited high start-up costs as the biggest barrier to starting a business, while more than 70% believe that schools and colleges encourage safe, conventional careers rather than supporting aspiring entrepreneurs. Eighty-two per cent of young people also claim careers advisors do not mention starting a business as a career option.

David Beavis, North East regional director of The Prince’s Trust, said: “Young people are the spark plugs of the economy. This country has produced some of the world’s most talented business people, and we need to build on this by giving more opportunities to talented young people to start up in business. The Prince’s Trust is calling on the business communities across the North East to support more young start-ups.”

The survey of more than 1,000 young people has left the youth charity appealing for more support to meet the demands of despondent youngsters from across the region. The Prince’s Trust says it hopes to support 360 disadvantaged young people into business over the next year.

This was posted in Bdaily's Members' News section by Ruth Mitchell .