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An entrepreneur is born!

24/05/2004

"Every week in Britain, young people start around 550 businesses. However, this is the age group that is most likely to fail."

The initiative is the brainchild of business education charity, businessdynamics and has been supported with a £151,245 Learning award from NESTA (The National Endowment for Science, Technology and the Arts) - the organisation that invests in UK creativity and innovation.

The award will enable businessdynamics to expand and extend their already tried and tested roadshow, 'Blue Skies', which uses successful young entrepreneurs to provide the inspiration and guidance for young people's business ideas.

Research by NOP World for businessdynamics revealed that almost half of young people (43%) aged 14 to 19 years would like to set up their own business.

David Millar, CEO of businessdynamics, said: "Every week in Britain, young people start around 550 businesses. However, this is the age group that is most likely to fail. We work to encourage young people to see self-employment as an exciting and realistic option and give them the skills and knowledge to help them succeed.

"There is no reason why young people from anywhere in the UK cannot start their own business. Sometimes all they need are the right role models. The Learning Award from NESTA will give thousands more the opportunity meet these role models at a Blue Skies in their area."

Blue Skies is a two-hour show that fuses music, video, quizzes and live interviews with real entrepreneurs fronted by a professional presenter. It is a formula that has proved incredibly successful. Since its pilot in September 2002, Blue Skies has reached over 25,000 students across the UK.

NESTA is part-funding 40 Blue Skies events, enabling the project to expand into Wales and Northern Ireland and reach thousands more students across the UK.

Sarah Macnee, acting NESTA Learning Director, said: "Nurturing and encouraging young entrepreneurship is a key area of development at NESTA as we recognise that this is an age-group who have some great ideas but lack the drive or know-how to develop them. We are delighted to be supporting such a bold initiative which will reach thousands of young potential entrepreneurs around the UK."

Blue Skies will be taking place in Swansea on the 28^th and 29^th June, Bristol on the 30^th June and 1^st and 2^nd July and there are plans for the roadshow to visit Northern Ireland and London in the Autumn.

Shaa Wasmund is one of the many entrepreneurs that give their time to inspire the next generation at the Blue Skies roadshows. Shaa was a boxing promoter for Chris Eubank before going solo and setting up the agency. At just 29, she took a career break having sold her highly successful media agency.

Shaa says "It's important to encourage this age group to think outside the box and make them realise that if they don't want to work for someone else they do have another option. I was as the London School of Economics and working with Chris Eubank full-time; it was hard but I wouldn't have changed it for the world. I come from a normal working class background. Everyone can be me."

businessdynamics is a business education and enterprise charity that aims to bring business to life for young people by encouraging companies to go into schools to bridge the gap between education and the workplace. Students are introduced to local businesses though a variety of programmes organised by businessdynamics. In 2002/3, volunteers from over 1,800 companies introduced just under 75,000 students, aged 14-19 years, to the opportunities and challenges of business as well as improving their key skills in preparation for the world of work.

businessdynamics was founded in 1977 by 3i, Europe's leading venture capital company, as a non-profit making trust and was called Understanding Industry until March 2001. Today it is supported by most of Britain's top companies as well as by government, as part of the drive to encourage young people to understand more about business.