FSB teams up with Young Enterprise to find future entrepreneurs

The Federation of Small Businesses (FSB) is teaming up with financial education charity, Young Enterprise in a bid to find the next generation of British entrepreneurs.

Young talent will receive a share of funding from the FSB as they embark on the Young Enterprise Company Programme, where they will be mentored to better understand the way business workers from experienced entrepreneurs within their local communities.

FSB’s small business owners will give up their time to advise students on their own business or social enterprise concept.

The youngsters will have their mentor as a soundboard for the entire academic year but will be responsible for everything, from financial planning and marketing campaigns through to branding and design concepts.

The scheme is designed to highlight the value of vocational education and will initially focus on six schools located in disadvantaged areas, readying their students for the world of work.

John Allan, national chairman, FSB, said: “We are thrilled to be working with Young Enterprise and the next generation of entrepreneurs on this project.

“This partnership is crucial because businesses are concerned that young people aren’t prepared for the world of work.

“Engaging with employers, education providers and young people is a proven way to remedy this.”

According to Mr Allan, new research has shown that if a student interacts four or more times with a business while at school, they are five times more likely to enter further education or training.

“If we want to develop the next generation of small business owners which will help carry the UK economy forward, then schemes like the Company Programme are important in showing that vocational learning is a valid and beneficial path offering long-term career prospects,” added Allan.

Michael Mercieca, chief executive, Young Enterprise, believes a business-based education will ensure fewer pupils drop out of the education system, obtaining the practical and theoretical tools that employers desire.

“We are proud to be working in partnership with the FSB to ensure that more young people leave education ready for the world of work,” said Mercieca.

“Business-based education provides a sound environment for the learning of enterprise, financial and life skills at an early age.

“With this in place, we will see fewer young people falling through the cracks of the education system and more approaching the job market with the skills employers are looking for.”

Date published 25 Jun 2015 | Last updated 25 Jun 2015