Young people to get help to start own ventures

10 Nov 2009

The recession is preventing young people from launching their own businesses.

The Prince''s Trust has embarked on an initiative that could benefit those taking business and management courses through distance learning.

Research by the Trust and Royal Bank of Scotland has revealed that more than half (56 per cent) of aspiring young entrepreneurs have not attempted to put any of their business ideas into action.

Thanks to the recession, around one in six (17 per cent) young people have shelved their business ideas in the hope of attempting to put them into practice when the economy improves.

Sixty three per cent of more than 1,700 18 to 30-year-olds polled expressed a desire to see the government providing clearer routes for young people to go into self-employment.

Commenting on the findings, Martina Milburn, chief executive of the Prince''s Trust, said that the UK economy "needs fresh input and young inspiration" and the recession should not be allowed to hamper creativity.

The Department for Business, Innovation and Skills recently announced that it will support The Prince''s Trust to help young people set up their own businesses.