Young entrepreneurs need clear ‘route map’ to navigate business minefield – says National Assembly Committee
14 November 2013
Young entrepreneurs in Wales need a clear ‘route map’ to help them navigate the minefield of starting their own business, according to a National Assembly committee.
The Enterprise and Business Committee found a significant difference between the number of young people who want to strike out on their own in business and those who eventually take the plunge.
The young entrepreneurs also highlighted inconsistent advice and information available as well as over-bureaucracy, inflexibility and delays in the grants systems.
“The Committee was inspired by the young business owners who contributed to this inquiry,” said Nick Ramsay AM, Chair of the Enterprise and Business Committee.
“We were also impressed with the Welsh Government’s commitment to promote entrepreneurship and the range of initiatives that have been put in place in pursuit of that goal.
“But the difference between the number of young people who want to go into business for themselves and those that actually make it is concerning. We would like the Welsh Government to establish why this is and how best to fix it.
“We also want to see entrepreneurship given greater prominence right through the Welsh education system from primary schools to university.
“It is clear to us that the land of opportunity offered to those wanting to start their own business is more akin to a minefield.
“We believe the Welsh Government needs to simplify this landscape, establishing one-stop-shops where young business owners can access clear, expert advice.”
The Committee makes ten recommendations to the Welsh Government in its report including:
Investigate the disconnection between the level of interest and aspiration for youth entrepreneurship and the actual number of businesses that are being started by young people, and establish how best to bridge that gap;
Ensure entrepreneurship and social entrepreneurship are embedded into the curriculum in primary, secondary and further and higher education rather than being a bolt-on, placing enterprise skills at the very heart of the Welsh education system; and,
Decide who should take on the role of providing a central portal of advice and guidance for existing and potential young entrepreneurs and for developing a route map of the options available, and subsequently work to establish those centres across Wales.
During its inquiry the Committee visited the Alacrity Foundation in Newport and the Flintshire Enterprise Club in Deeside to collect the views of young business owners and their advisers.
The National Assembly’s Outreach team also interviewed young entrepreneurs across Wales.
Videos of those interviews and the Committee’s visit to the Alacrity Foundation can be viewed here.