The most interesting enterprise developments and stories

In the media

The 2010 Enterprising Young Brits competition was officially launched on 12 January by the Secretary of State Lord Mandelson. The competition, which recognises the achievements of young entrepreneurs aged 13 to 30, is run by Enterprise UK and supported by the Daily Mail, the Institute of Directors and the Department for Business, Innovation and Skills.

Unemployment at a young age can have significant effects on confidence, motivation and happiness, according to a report published by The Prince's Trust. The second of their YouGov Youth Index’s suggests that young people not in education, employment or training are almost three times as likely as other young people to believe that their life has no direction.

Small businesses expect stronger trading conditions this year, according to a poll from SmallBusiness.co.uk. Some 67 per cent of SMEs expect business to improve in 2010 and of those, 16 per cent say conditions have already improved.

Supporting businesses and growth

Going for Growth: Our Future Prosperity (BIS – pdf: 800 kb)

Sustaining economic recovery and achieving future prosperity will require a renewed focus on supporting enterprise and entrepreneurial activity, as well as six other ‘core capabilities in the British economy’, the new Government strategy for economic growth argues. Speaking at the launch of the paper, Secretary of State Lord Mandelson said that the Government’s commitment to investing in these seven areas was borne from the belief that ‘industrial competitiveness is not something that emerges out of the free market ether’.

Unlocking enterprise potential

Investing in Potential (DCSF, DWP, BIS – PDF: 1.07MB)

Raising young people’s aspirations, improving their skills and expanding opportunities for training and employment, are critical to ensuring a return to sustainable economic growth, a joint young people’s strategy between DWP, DCSF and BIS argues. Announcing a new Government target of a 2% reduction in the number of 16-18 year old NEETs, the report highlights a number of recently introduced measures, including the Backing Young Britain campaign and the Young Person’s Guarantee.

Challenges and Opportunities for Growth and Sustainability: A Focus on women entrepreneurs (Delta Economics – PDF: 536 kb)

Whilst women are entering the world of entrepreneurship at a much faster rate than men, their businesses have been much harder hit by the recession than their male-owned equivalents, a new report by Delta Economics suggests. Evidence suggests that the turnover of businesses owned by women dropped by 48% in 2009, compared to an average drop of 18.5% amongst all entrepreneurs. Yet, despite these challenges, women's businesses are as productive as their male counterparts - creating the same number of jobs and expecting their turnover and the number of jobs they create to grow by just as much.