What did I do wrong in my first startup? What didn't I do wrong! I probably did more wrong than right, but I got out the other side with some skills, earning power and am able to tell the tale. I'll take the hard earned lessons with me onto the next one, hopefully executing much more artfully and smartly next time.
Starting a business isn't easy for anyone while young people face their own disadvantages. They usually have less capital to support them, they might have student debts, and getting a business loan is going to be much harder. As unfair as it is, some people have less respect for the young and that's going to have an effect when they're competing against older people for resources when launching a start-up.
The word 'mumpreneur' was added to the sixth edition of the Oxford English Dictionary in 2011 - a tribute to the growing numbers of women in the UK who regularly don two hats, one as a business-owner and the other as a mum, usually with young families. According to research released last year, the UK is home to more than 300,000 mumpreneurs who contribute as much as £7.4 billion a year to the economy.
It takes a certain type of person to make a business successful, not everyone is cut out to start a business. The harsh reality is that the vast majority of businesses will fail, one in three start-ups collapse within the first three years, which is often down to having an insufficient support and expertise network.
In a country where young people make up a significant proportion of the available labour force, yet unemployment rates for 20 to 24yearolds have been estimated to be as much as five times greater than those for older adults, Building Young Futures works hard to support hard to reach people in places where there are few jobs or prospects for the bulging youth population. What's the alternative?