Young people need help to start their own business

Friday, October 09, 2009

Industry experts call for the government to do more to assist young entrepreneurs.

By Ashley Brunskill

People setting up their own businesses need more help, research has suggested.

The research, from the National Federation of Enterprise Agencies, said that enterprise support professionals around the country are calling for a new approach to supporting business start ups.

Without support some young entrepreneurs may find the process of starting their own business and affording business rates challenging.

The Forum of Private Business (FPB) agreed, saying that entrepreneurs with a marketable idea looking to start a business should receive more support to do so.

Phil McCabe, spokesperson for FPB, said: "I think more needs to be done from a governmental level to make it easier for entrepreneurs with a marketable idea to start a business."

He added that a better and more simplified tax system was required and red tape issues need to be minimalised.

According to a survey by the Association of Chartered Certified Accountants three-quarters of 25 to 34-year-olds aspire to run their own business one day.

Source: ask-re The Property People LLP