News in Merseyside Region

Entrepreneurialism is alive and kicking in UK

Thu 19 May 2011

Entrepreneurialism is alive and kicking in UK

More than half of all new graduates are either out of work or stuck in menial jobs six months after leaving university, a new study from the Centre for Economics and Business Research has shown.

According to the report, 52% of last year’s university leavers – a total of 15,655 graduates – were either unemployed or under-employed six months after they finished their studies.
20% had no job at all, which is the highest amount in a decade and double when the recession began in 2008.

"It’s a pretty de-motivating picture for young people aspiring to be future business leaders today – and you have to question whether university is really worth the investment it takes, if its so difficult to secure meaningful jobs afterwards. But it’s not all black, and I think that the business community can really support through apprenticeship schemes, work experience opportunities and other creative initiatives," says Terry Hamill, Director for BNI Merseyside.

Another recent survey of British young people aged 11-18 from AXA revealed that starting a business is now the joint-top career choice for young people in Britain, alongside becoming a teacher or world-class sportsperson.

According to the research, 1 in 20 British teenagers hope to start their own business, but cite money to start up, motivation and direction about where to begin were as their main obstacles.

"Against the backdrop of an economy that is still struggling and a difficult job market, it’s great to hear that the British entrepreneurial spirit is still shining through and it something that I think is particularly strong in Merseyside," adds Terry.

"In my role as a coach and mentor to businesses both locally and across the UK, I meet many inspiring young people with business dreams and ideas. But they need good business role models who can help to direct their ambition and talent and I believe that this is something which everyone in the business community should be actively supporting," he concludes.

Picture of Terry Hamill (Photo in the heart of Liverpool)

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