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Entrepreneurs Panel

Jennie Johnson
Brian Hay
Michael Oliver
David Pollock
Jeremy Roberts
Tony Caldeira
Richard O'Sullivan
Debbie Pierce
Julie Meyer
Laura Tenison
Steve Purdham
Charlie Mullins

Celebrity entrepreneurs “failing to inspire” next generation

So-called celebrity entrepreneurs are failing to inspire the next generation of business owners, new research shows.

According to the report, conducted by One Poll on behalf of the Co-operative, more than 60 per cent of 18 to 24-year-olds said that they have never been motivated by a celebrity chief executive or business leader.

In addition, 63 per cent of respondents admitted they would be more likely to launch a firm with others, rather than going it alone.

However, 37 per cent said that they do not understand business or how they would go about starting a company.

Sarah Klueter, community investment manager at the Co-operative, said, "It is vital that more is done to ensure the next generation is better equipped for the challenges that lie ahead and have the skills and knowledge to create enterprises that are fit for a more sustainable future."

There is help out there though for budding tycoons. In January the Government revealed its Start-Up Loans scheme had supported its 1,000th entrepreneur.

The initiative, which was launched last year and was aimed at those aged between 18 and 24, was extended last month to cater for 18 to 30-year-olds.

In the last five months of 2012, 500 budding entrepreneurs received start-up loans and free mentoring. In the first five weeks of 2013, another 500 businesses were launched as a result of the scheme, which is run by the Start-Up Loans Company.

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