Entrepreneurialism should start young

Why should entrepreneurialism start young?

Well, I guess the answer is you can become an entrepreneur at any age but the sooner you start, the better in many ways ... what would help is some support, right?

A year ago HW, Chartered Accountants, published the results of their survey of the owner-managed business sector in the UK (‘Happiness & Heartbreak: The Life of a business owner’). It painted a disturbing picture of small and medium-sized enterprises (SMEs), desperate for more help during the worst economic climate for decades.

Haines Watts and the Business Magazine held a roundtable to discuss the survey’s findings, where it was agreed that a great deal more support could, and should be offered, both by the Government and financial institutions.

The survey revealed that just 13% of business owner respondents were aged under 40, which prompted many to question where the UK’s future business leaders will come from, if young talent is not supported and encouraged as a matter of urgency.

Haines Watts, which works with young entrepreneurs on a daily basis in the course of its business, launched the Young Entrepreneur of the Year competition (HWYE) for the Thames Valley last year, to identify and encourage these rare young people who have defied the economic conditions to start their own business. Since then, the Government has launched some initiatives to help entrepreneurs but a great deal more does still need to be done.

Haines Watts’ Partners continue to mentor last year’s Young Entrepreneur competition regional winners and support them with their business ventures and they are all going from strength to strength.

However, as spending cuts dig deeper and the economy presents even greater challenges, many young entrepreneurs may fall by the wayside. The high unemployment rate, with so many people trying to get onto the career ladder, the barriers presented in getting onto university courses and our present ‘benefits’ culture all conspire to make it extremely difficult.

Next month, Haines Watts and the Business Magazine will hold another roundtable discussion to consider how the UK should be harnessing entrepreneurial spirit and supporting business growth. A variety of entrepreneurs will join in the discussion.

We look forward to sharing the results. In the meantime, if you have any questions for our panel, please email us at: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

And remember ... the Haines Watts Young Entrepreneur (HWYE) competition 2011 for the Thames Valley is now well underway and the deadline for entries is 18 September.

For further information about the Haines Watts Thames Valley Young Entrepreneur Award 2011, or to register, please visit www.hwye.co.uk or contact Mary Ferry on 01483 426577, email This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Follow us on Twitter @HWYE2011 or Facebook – search for Haines Watts HWYE.

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