Welsh youngsters need a clear ‘route map’ to help them through the minefield of starting their own business, according to a National Assembly committee.
The Enterprise and Business Committee found a significant difference between those wanting to start their own business and those who eventually do.
During its inquiry, the committee heard from young business owners who told of a lack of enterprise within the Welsh education system.
Young entrepreneurs also said inconsistent advice, bureaucracy, and delays in the grants systems as problems.
Nick Ramsay AM, Chair of the Enterprise and Business Committee, said: “The difference between the number of young people who want to go into business for themselves and those that actually make it is concerning. We would like the Welsh Government to establish why this is and how best to fix it.
“We also want to see entrepreneurship given greater prominence right through the Welsh education system from primary schools to university.
“It is clear to us that the land of opportunity offered to those wanting to start their own business is more akin to a minefield.
“The Welsh Government needs to simplify this landscape, establishing one-stop-shops where young business owners can access clear, expert advice.”
The way 'to fix' the problem is less government, something that politicians will prevent from happening if they possibly can. I have personal business experience in HIPs (which I foresaw would be a short lived phenomena), cavity & loft insulation, and solar panels. In all these areas where entrepreneurs started businesses and recruited a workforce constant government interference destroyed many businesses and jobs.
It is worrying that we have developed so many tiers of government from, council, Welsh assembly, Westminster and, in charge of everything, the EU. It is no wonder that young people find it so hard to start businesses, the grey haired find it equally difficult.
Richard, you are absolutely spot on.
I agree again. The problems encountered have very little to do with grants and advice but more the red tape. I know someone who was looking to start up a window cleaning company but he had to fill in a hand full of forms for each level Richard mentioned ranging from how he would ensure the use of clean water to how he would properly hold the brush. It is completely ludicrous!
For entrepreneur looking to start a business, they will need to spend more on a good lawyer to map out the legal and bureaucratic mind field than they will the products they want to sell.