Welcome to the Make Your Mark campaign’s Enterprise Insights where only the most interesting enterprise developments and stories are delivered to you fortnightly.
Creating enterprising places
The recession is having the greatest impact on areas that were already deprived – with areas in the West Midlands and Yorkshire and the Humber the hardest hit – according to a new report by the Audit Commission. Local councils, however, are warned to ‘avoid complacency’ about the recession, as many of the effects are yet to emerge. The report suggests that councils should establish strong partnerships with business leaders, regional bodies and other local organisations to prepare for the ‘social, financial and economic development challenges ahead’.
Supporting businesses and growth
The use of credit card debt by new firms (Ewing Marion Kauffman Foundation: pdf – 229 KB)
New businesses are 2.2% more likely to close in their first three years of operation for every $1,000 they have in credit card debt, a new study of US start-ups has revealed. Based on data from the Kauffman Firm Survey starting in 2004, the report found that almost 60% of entrepreneurs in the US will use a personal or business credit card when starting a business, with an average revolving credit card balance of -$3,559. The report highlights that 21.5% of businesses fail within their first three years, with financial problems on of the most commonly cited reasons, suggesting that more should be done to help those who have trouble getting business loans.
Real-world education and skills
The state of enterprise education (YPEF: pdf – 3.2MB)
Enterprise education is helping young people to become more employable, with greater business understanding and higher aspirations, according to a report by the Young People’s Enterprise Forum. The survey of 48% of schools and colleges in Yorkshire & Humber region found wide variations in how enterprise education is embedded across schools. A third of schools had no policy or strategy for enterprise education and a third provided no CPD opportunities on enterprise. The research does not reflect UK-wide patterns, but further research commissioned by DCSF is set to explore this further.
Speakers' corner
In our latest Speakers’ Corner spot, creative entrepreneur Wayne Hemingway talks about;
- Exciting opportunities springing from the recession
- The importance of role models, mentors and relationships in business
- The need for more entrepreneurial opportunities for creative people
In the media
The Government has launched a new campaign, ‘Backing Young Britain’, to encourage a coalition of businesses and other organisations help graduates and school leavers into employment during the recession.
Small businesses are finding it easier to obtain credit for the first time this year, according to the results of the CBI’s latest Access to Finance survey.
The Government has announced the creation of a new advisory panel to ‘generate new ideas and fresh thinking’ in its ‘New industry, New Jobs, Universities and Skills’ agenda.
89% of parents are worried that they don’t have the right advice for the children – according to the results of a survey launching the Government’s new online advice service for education leavers and their parents, What’s Next.
Nominations have opened for the 2010 Queen’s Award for Enterprise Promotion to recognise those who have played an ‘outstanding and significant role in promoting enterprise skills and attitudes in others in the UK’.
In our world...
- Enterprise Insight are looking for an undergraduate or graduate for a 6 -8 week internship with our Policy and Research team.
- Enterprise Insights is rarely lost for words – but if you have a news story, report or viewpoint that you think our readers would be interested in then please get in touch with jonathan@makeyourmark.org.uk
A longitudinal study of Further Education learners receiving out of work benefits (LSC: pdf – 1MB)
Over one in ten (12%) further education leavers want to start a business in the next twelve months – with a third of those (4%) actually starting up immediately, research carried out for the Learning and Skills Council suggests. Of those who were self-employed between 2007 and 2008, the research found that 75% reported greater job satisfaction and 65% saw increased job security. For those who had not yet become self-employed, 53% cited access to finance as their greatest barrier, whilst 16% suggested it was the inability to find relevant help or support.
Attitudinal barriers to engaging young people in positive activities (DCSF: pdf – 523 KB)
Young people are generally eager to participate in positive extracurricular activities, however, organisers shouldn’t expect them to seek them out, new research by DCSF shows. A series of three reports, including qualitative research with both young people and parents, highlights a range of physical and attitudinal barriers that stop young people from participating and suggests ways to overcome them.
 |
|
|
|
