Partner Article

Invest in youth now to protect future

A wise man once said: “look after the pennies and the pounds look after themselves,” this is one of my favourite sayings and I feel that it can also be related to the youth of today for they will become the businessmen and women of tomorrow so we all need to take an interest and invest in them now.

It is therefore very promising to hear that the government have set up a fund specifically for young people who wish to start their own business. At a time when young people struggle to find jobs as unemployment figures are at an all time high this news brings encouragement to thousands of young people who view starting their own business as a viable career choice.

Another positive development here inSunderland, is college’s new enterprise hub, a facility designed to teach young people how to start a business. Granted hub status by the Peter Jones Enterprise Academy, this new partnership will enable the college to introduce new qualifications which focus on enterprise and entrepreneurship; and is an excellent illustration of an effective business and education partnership.

Similarly projects like New Enterprise Allowance, offers unemployed individuals over the age of 18, access to business support and an allowance of up to £1,000 to help them during the all important early days in business do much to support people looking to start up are great examples of this working in tandem.

Here at the BIC we believe in investing in young people and are therefore delighted to be able to work side by side with organisations like the council and Sunderland College on such initiatives. Over the years our advisers have worked with hundreds of individuals and have witnessed many business grow up in a highly competitive market place; and with a success rate of 75 per cent of our start up businesses continuing to trade into their third year, it isn’t surprising that our advisers beam like proud parents when they are asked how their clients are doing.

And as they prepare to welcome the next generation of enterprising clients to the BIC and I have no doubt that they will be offering the same words of wisdom; highlighting that whilst finances are important it is just one thing that people need to think about when starting their own business; it is just as important to ensure that they have access to support and guidance giving the youth every chance that their business will become a great success. Penny Wise, Pound Foolish.

This was posted in Bdaily's Members' News section by John Anderson CBE .