YBI and The Entrepreneurs Network call on government to ‘Empower the Future’

NEXT GOVERNMENT MUST RECOGNISE THE IMPORTANCE OF YOUTH ENTREPRENEURSHIP  TO EMPOWER FUTURE GENERATIONS, THINK TANK SAYS

With the general election now only two weeks away, a new briefing paper from The Entrepreneurs Network, a think tank, in collaboration with Youth Business International, the only global network dedicated to youth entrepreneurship, has called on whoever forms the next government to harness the potential of young people by empowering them with the skills they need to start, grow and sustain a business.

Highlighting in particular the current economic strains, Empowering the Future notes that by encouraging young people into entrepreneurship we could boost the economy and reduce fiscal burdens facing the nation. The report also argues the case that technological advancements such as artificial intelligence, which are rapidly transforming the job market, necessitate fresh approaches to prepare the next generation for future opportunities.

The report puts forward ten practical policy recommendations for the incoming government to spearhead, including increasing opportunities for young entrepreneurs to access finance and support, simplifying processes for registering and starting businesses, and bringing back the Enterprise Allowance Scheme, which gave a certain guaranteed income to unemployed people who set up their own business. 

The report will be launched today in the House of Commons by Lord Mawson, one of Britain’s leading social entrepreneurs. He will say: “Entrepreneurship has a unique ability to empower individuals to change their lives for the better. However, too many young people still don’t have the opportunities or know-how to start a business. If Britain’s economy is to get back on its feet, it’s essential that we enable more young people to go into entrepreneurship. To allow them to fulfil their true potential, we need a new approach, and I welcome the policies set out in this paper which would do exactly that.”

In Empowering the Future, a series of policy recommendations are put forward for how the next government can enshrine enterprise education for young people in Britain and make it easier for them to get ahead when they enter the world of work. These include embedding enterprise education into the curriculum, making it easier for under-18s to open business bank accounts, and pioneering new approaches to funding government-backed incentives for innovation. 

Philip Salter, Founder of The Entrepreneurs Network and author of the briefing paper said: “Our education system should empower the next generation to pursue entrepreneurial careers and to innovate. That’s why embedding enterprise education into the curriculum and enabling edtech companies to innovate more will be essential in reforming education.”

Anita Tiessen, CEO of YBI said: “I am inspired everyday by the incredible young entrepreneurs supported across the YBI global network. I strongly urge both the incoming UK government and other decision makers globally to introduce policies to unleash the potential and skills of young people. When young entrepreneurs thrive it’s an effective lever to boost growth, level inequalities and drive green and social economies to create a generation for change.”