News

September 21, 2012

StartUp Britain hits the road to recruit young entrepreneurs

StartUp Britain is planning a month-long bus tour of the UK in order to inspire the next generation of entrepreneurs.

The national enterprise campaign's double-decker bus will visit 40 universities and further education colleges, carrying a team of business experts, mentors, authors and entrepreneurs to offer face-to-face advice to young people hoping to set up a business.

The tour aims to make contact with 10,000 students, offering them information and application details for the £82m StartUp Loans scheme for people aged 18 to 24. There will be an opportunity to apply for the loan on board the bus and visitors will receive a free StartUp Loans Kit with a guide on how to start a business and more than £200 of StartUp offers.

StartUp Britain co-founder Emma Jones said: "Research has shown eight out of ten young people think about setting up a business these days as a career path, or a way to turn a hobby into a money-spinning idea. These young people represent the future of business and our economic prosperity — that's why it's so important to offer them support by delivering the message that they can set up a business, there is support out there for them."

Increasing numbers of young people are planning to start their own business, according to research by Global Entrepreneurship Monitor (GEM). It found that the number of young people aged 18 to 29 who were in early stage entrepreneurial activity rose from 5.3% in 2010 to 7.8% in 2011.

Emma Jones added: "If we can keep up the pace of start-up growth, it will be a significant contribution to UK PLC moving forward."

Lord Young, the Prime Minister's enterprise adviser said: "Many young people have the drive and ambition to create a business, yet don't know how to put this into action. The StartUp Britain bus tour will do much to connect many of them to the support they need as well as help them sign up for a StartUp Loan. In doing so, it will help to transform the enterprise potential of a new generation."