New generation – new businesses?21 January 2015
New generations of young business owners are leading the way out of the downturn, according to the annual Simply Business Start-up Index, which reveals a 29% rise in firms started by 18–25-year-olds since the recession took hold in 2008
Entrepreneurship education is a system in which multiple stakeholders play key roles. A thriving entrepreneurship ecosystem requires collaboration and multi-stakeholder partnerships, particularly between academia and business. These links between schools and business are important, not only in order to ensure that the curriculum is relevant, but also in providing role models, mentorship and expertise.
"Indeed, research looking at the last 12 months shows that the number of people aged between 18 and 24 starting a small business or freelancing almost doubled over that period from 2008 (Fox 2014)" says a report from UK. The range of businesses they are running is wide and varied, but the top three sectors in terms of numbers are Internet-based businesses, apps and retail. The government-backed Start-Up Loans Company, initiated in 2012, has already supported over 13,000 aspirational young entrepreneurs in UK through financial and mentoring support, with a further £117.5 million being made available until 2015