Local AM calls for more support for young entrepreneurs

10.03.40am UTC (GMT +0000) Fri 19th Jan 2007

Welsh Liberal Democrat AM for Brecon and Radnorshire, Kirsty Williams, has expressed her concern that not enough is being done to promote entrepreneurship among young people.

The number of people involved in business start-up in Wales is significantly lower than in other small industrialised nations, and increasing entrepreneurship is widely seen as being key to improving Wales' economic fortunes.

Ms Williams said: "If we want to increase wages and bring more economic stability to Wales, we need to have a population with the ability to establish new businesses, and the skills to direct companies, as well as to work for them. Our young people must be given every opportunity to be the best that they can be - who knows where the next Laura Ashley or Terry Matthews might come from?

"I want to see stronger ties between businesses and schools and colleges to provide young people with positive and inspirational role models, and get local entrepreneurs into schools so the next generation are thinking about business from a younger age. We should also promote all-Wales competitions and buddy programmes run through colleges, schools and business forums which encourage and promote business skills amongst young people."

Notes:

According to the National Entrepreneurship Observatory the proportion of the working age population in Wales who were actively participating in the process of start-up was 2.6 per cent. This compares to 5.6 per cent in Ireland, 8.5 per cent in Iceland, and 9.4 percent in New Zealand. The UK average is 3.1 per cent, although it is as high as 4.7 per cent in London.