Students at the Telford College of Arts and Technology are part of the generation most likely to consider setting up a business, a recent report has revealed.
This generation, which grew up over the millennium, was found to have an ‘unprecedented entrepreneurial spirit’ with almost one-third of those aged 20 to 29-years-old wanting to start their own business, said the report from the RSA charity in partnership with the National Centre for Social Research.
According to separate analysis from the Global Entrepreneurship Monitor, the number of people from this age group in the process of setting up their own companies has risen by 50 per cent in the last year alone.
A double-decker bus, organised by national enterprise campaign StartUp Britain, will help to mobilise the enterprise potential of this generation by taking a team of entrepreneurs, business authors and experts to visit students at the central Haybridge Road campus on Tuesday, October 30.
The idea behind the visit is to show students how to get access to the support and funding that exists, pointing them towards specialist mentors and giving them the chance to speak to already-successful entrepreneurs.
StartUp Britain co-founder Emma Jones said: “We are seeing more and more young people setting up businesses.
“Research has shown eight out of 10 young people think about setting up a business these days as a career path, or a way to turn a hobby into a money-spinning idea.
“Reports suggest this boom in entrepreneurialism is down to the millennial generation grasping both the power of modern technology and the internet.
“These young people represent part of the future of business and our economic prosperity - that’s why it’s so important to offer them support by delivering the message that they can set up a business, there is support out there for them – and that we’ll be with them every step of the way, cheering loudly!”
Lord Young, the Prime Minister’s Enterprise Adviser said: “Many young people have the drive and ambition to create a business, yet don’t know how to put this into action.
“The StartUp Britain bus tour will do much to connect many of them to the support they need as well as help them sign up for a StartUp Loan. In doing so, it will help to transform the enterprise potential of a new generation.”
The visit, scheduled for 2pm, is part of a UK bus tour which will take in 40 universities and further education colleges across the UK.
It will also deliver information and application details to the 10,000 young people it hopes to meet, about the £82m StartUp Loans scheme for people aged 18 to 24, announced earlier this year.
There will be an opportunity to apply for the loan on board the bus and everyone will receive a free StartUp Loans Kit with a guide on how to start a business and over £200 of StartUp offers.
Shropshire local champion Fay Easton said: “This generation has been disproportionately affected by the downturn, with 1,560 16 to 24-year-olds in this area facing unemployment.
“Young people here need to hear about how to set up a business and where they can get help from sooner rather than later – and this bus tour is just the ticket!”
Telford college principal and chief executive, Janet Ellis said: “We just can’t emphasise enough how important the start-up message is to this generation.
“These young people are well-aware of the problems they face when it comes to finding employment, but at the same time they are hungry to find their way in the world.
“Their grasp of the power of technology means they are not short of start-up ideas – and it’s initiatives like the StartUp Britain bus tour that will help them join all the dots together to potentially recognise they can make it happen.”
The tour is sponsored by .CO Internet, the company behind the fast-growing .CO domain and the Gazelle Colleges Group, a network of 19 colleges committed to fostering entrepreneurialism in the further education sector.
Juan Diego Calle, founder & CEO of .CO said: “We're excited to be a sponsor of the Startup Britain bus tour and to help inspire the next generation of great entrepreneurs in the UK to build their dreams online."
The start-up campaign is backed by top firms, including Dell, Intel, Intuit, AXA, PayPal and Magento Go, who will all be on board the bus.
Go to www.startuptour.co to find out more and view the visits and register interest.