While thousands of young people across the country have been celebrating their A level and GCSE results, recent statistics shows that regardless of the grades they get many young people still face a tough year ahead.
A recent article in the Telegraph reveals that one in ten people who fall into the category of NEET (Not in Education, Employment or Training) have A-levels or a degree. Since the economic downturn took hold, the number of young people classified as NEETs has increased dramatically. Research by the ippr and the Private Equity Foundation (PEF) reveals that the risk of becoming NEET has increased by over 40 per cent over the past two years. Unfortunately, while young people could once rely on getting good qualifications to secure a decent job, this isn’t the case anymore.
But it’s not all doom and gloom! Many, including Universities and Science Minister David Willetts, are starting to recognise that “there is more than one route into well-paid and fulfilling work". Clearly, one option for young people is to start their own business. With the right level of encouragement and support, young people can go on to achieve great success. It’s clearly worked for business tycoon Alan Sugar, who started his out at the tender age of 12 and went on to launch his own electronics company in his early 20’s, and is now one of the UK’s most successful businessmen.
Ensuring that young people are aware of all their options is vital to foster the next generation of UK entrepreneurs. There is already support out there for young people with organisations such as the Princes Trust offering advice and funding, as well as the Federation of Small Businesses and the Institute of Directors.
Small businesses collectively employ almost half the working population of the UK and contribute to 50.1 per cent of the UK turnover, so they are quite clearly the backbone of the British economy. With many young people looking for other options, even more encouragement and support is needed to give young people the necessary tools they need to succeed.
