A commission that the Hull Youth Enterprise Partnership submitted evidence to and which had Katie Norman of Labrascals & Hull's Sheila Waudby Young Entrepreneur of Year 2014 as a commissioner has found that young people are discouraged from starting a business because it is perceived as risky was launched in London on Monday (26th January) The Commission, set up by the National Youth Agency found that parents and teachers encourage young people to find a job with a regular income rather than support them to set up an enterprise. In fact, the report continues, young people can help allay fears by transitioning into managing a business. Starting off small, young people can develop their ideas via projects in their community or engaging in online trading alongside day jobs or study, the Commission heard.
With youth unemployment higher than for any other age group, self-employment should be considered a realistic option for many young people and more signposting and specialist support needs to be made available, the Commission concluded. The Commission believes that youth workers, whose roles often demand these characteristics, are well placed to support young people’s enterprise skills, as well as act as mentors to inspire young people to consider enterprise as a career option. Commissioners are calling on youth workers to become stronger advocates for enterprise. There was also a correlation between entrepreneurial activity and community action – young people that establish a business are more likely to support volunteering and play an active role in their communities, the Commission found.
Chloe Smith MP, Chair of the Commission, said;
"This commission believes passionately in young people and their prospects. It can be an exciting, rewarding choice to set up your own business, and we want to see more young people do it.
The changing patterns of today’s economy mean that young people expect different things from their first job – and why does that job have to be working for someone else? Young people are ready to take risks, and the attitudes and skills that come with it are a solid foundation for life.
Yet young people need help to develop these entrepreneurial characteristics, such as tenacity,resilience, communication skills and risk taking - behaviours which contribute to success in running a business, the report continues."
Katie Norman of Labrascals who sits on the Commission said;
"Enterprise is not only about budgets and cash flow. Youth workers and are skilled in helping young people to believe in themselves and as well as technical
knowledge, running a business or being self employed demands self confidence and lots of it.
"I was very honoured to have represented Hull on this Commission and to outline how Hull City Council has a real commitment to supporting its enterprising young people via its support for the Hull Youth Enterprise Partnership, the Youth Enterprise Bank, Global Entrepreneurship Week, iDEA Award and the Lee Creamer Youth Enterprise Club. The Commission heard that for many young people, their interest in running a business was sparked by a desire to support an issue that they felt passionate about. Their business idea came later, that was certainly true in my case when I set up my science party business as I have a real passion for science."
Ross Bennett Chair Hull Youth Enterprise Partnership said;
" We have proudly supported over 350 young people with the support of Hull City Council to develop their own enterprising idea in the last 10 years through the youth enterprise bank alone.There has never been a more important time to help young people get access to the hands-on mentoring and support that already exists – but often not seen by them - so that they can get help to turn a brilliant idea into a sustainable business.
We have therefore been proud to be part of the Commission into Young People and Enterprise, helping it to find out what we are doing in Hull to support our enterprising young people and illustrating how it could be replicated in other parts of the country, it was also great that not only was Katie a member of the Commission it heard from two of our young entrepreneurs Thomas Arran a photographer and Loui Fowler of Triple R Banners about the support available to them."
