The UK needs to do more to promote an enterprise culture, especially amongst young people, according to George Cox, the Institute of Directors’ (IoD) director general.
In a speech to the government’s Advancing Enterprise: Britain in a Global Economy conference tonight, Cox will stress that the future of the UK economy will depend on encouraging youngsters to get interested in starting up their own businesses.
“There is no doubt that this country’s future lies in high value-added products and services, competing on innovation, design, technology, service levels and speed to market.
“As part of preparing for this future, we need to get the message about enterprise across to young people – and the people that influence them,” he will say.
Cox will go on to call for a “can-do” attitude among British youngsters, urging policymakers to inspire the next generation of entrepreneurs by emphasising the personal rewards as well as the benefits of society as a whole.
“Future competition is going to come from outside the traditional international competitors and is not just for the low-skilled jobs; it is increasingly affecting those in higher-skilled jobs, not just in manufacturing but also in services.
“To bring the necessary change about requires a change in understanding throughout the UK – in short it needs an enterprise culture,” he will say.
As reported by Startups.co.uk, research has shown that many young people are keen to become their own boss, although most are unsure of how to go about it or are wary of the lack of security that involves becoming an entrepreneur.
An estimated half of all undergraduates want to start their own business after university, while the majority of youngsters have said that they would prefer to work for a small firm than a large corporation.
