More young jobless are setting up businesses
Richard Garner has been Education Editor of The Independent for 12 years and writing about the subject for 34 years. Before becoming a journalist, he worked as a disc jockey in London pubs and clubs and for a hospital radio station. His main hobbies are cricket (watching these days) and theatre. On his days off, he is most likelt to be found at Lord’s or the King’s Head Theatre Club.
Tuesday 28 May 2013
More than one in four unemployed young people would rather set up their own business than search for a job, research for The Prince's Trust suggests.
Government figures show the number of self-employed young people has risen by 71,000 since the start of the financial crisis. At present, only 5 per cent of under 30s are their own boss. Signs suggest their aspirations are not a pipe-dream, either, as official government statistics show that the "can-do" spirit is being fostered by the fear of joblessness – and bolstered by TV programmes such as Dragon's Den and The Apprentice.
"This research reveals an increasingly entrepreneurial mood among young people," said Martina Milburn, chief executive of The Prince's Trust. "Five years on from the start of the recession, youth unemployment remains high and many are seeing self-employment as a way to break the cycle of joblessness."
One of those who has been successful is Lisa Duggleby, aged 25, from Burnley in Lancashire. The mother-of-two now runs her own business providing advice on wedding venues and styling. "I was looking for work but jobs are hard to come by in the area in the first place – never mind one that I could fit around my family."
It was helping a family friend to plan her wedding that gave her the idea of setting up her own business, she said. "I love weddings so I jumped at the chance to help out," she said. "It was then that I realised how expensive wedding venues and dressing can be and I thought I could do better." With a grant of £750 from the trust, she set about buying her first set of chair covers, business cards and sample pictures for her website and the business, Atmosphere Venue Dressing, was up and running.
The survey of 1,627 16- to 30-year-olds revealed that 43 per cent had made money from entrepreneurial activity such as selling a product they had made themselves or working on a freelance basis. More than half (52 per cent) expected to do so in future.
Professor Michael Hay, an expert in entrepreneurship at the London Business School, said: "Helping young people to beat unemployment and set up businesses can only be a good thing for the UK economy."
- 1 Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
- 2 Christians: The world's most persecuted people
- 3 The secret report that helps Israelis to hide facts
- 4 Danish TV reporter is all business up top, all party down below
- 5 Denmark bans kosher and halal slaughter as minister says ‘animal rights come before religion’
Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
Israel-Gaza conflict: The children were playing in the street with toy guns. The missiles were tragically real
Danish TV reporter is all business up top, all party down below
Syria conflict: Syrian and Turkish Kurds unite to battle Isis threat - ‘We shoot them like sheep, but next day double the number return’
Ross Burden dead: MasterChef and Ready Steady Cook star, dies aged 45
The secret report that helps Israelis to hide facts
A day in the life of Vladimir Putin: The dictator in his labyrinth
A new Russian revolution: The cracks are starting to appear in Putin’s Kremlin power bloc
Were 'Poor Doors' added to mixed developments so wealthy residents don't have to go in alongside social housing tenants?
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Opponents of Israel's military operation in Gaza are the real enemies of Middle Eastern peace
iJobs Money & Business
Data Governance Manager (Solvency II) – Contract – Up to £450 daily rate, 6 month (may go Permanent)
£350 - £450 Per Day: Clearwater People Solutions Ltd: We are currently looking...
£500 - £560 per day: Orgtel: Java Developer FX - Banking - London - Up to £560...
£350 - £400 per day + competitive: Orgtel: My client, a leading bank, is curre...
£26000 - £30000 per annum + Benefits: Ashdown Group: Account Manager - (Produc...