Young Entrepreneurs Are Switching Online
StartUps.co.uk:
Young people are increasingly turning to the internet for help when starting their own business.
Shell LiveWIRE, the enterprise support service for 16-30 year-olds, has reported that more of its services are being requested via the organisation’s website each year, while telephone and postal inquiries are declining.
The figures are supported by the growth in numbers of people using free online small business resources such as Startups.co.uk, which saw its visitors treble in 2003.
Sandy Ogilvie, a director for Shell LiveWIRE, believes business and the economy is now starting to see the true value of the internet and young people are benefiting from opportunities it offers.
‘Youth enterprise is alive, well, and increasingly networking in the UK today,’ said Ogilvie. ‘While the dot com boom and bust cycle may have made the young more cautious about going in to business, the internet itself has become more the ultimate recourse for readily available and rapidly accessible information.
In addition to recognising the drive for online information, Shell LiveWire’s research also revealed that the majority of businesses run by young people are prospering. An impressive 97% were still trading at the end of their first year, while a third of those started in 2002 had grown their turnover to in excess of £100,000 during 2003. Just under a quarter of those businesses enjoyed profits of £100,000 or more.
Young people aged 16-30 seeking business advice can request a free Essential Business Kit by phoning the Shell LiveWIRE hotline on 0845 757 3252 or, as more people are opting to do, by visiting:
www.shell-livewire.org.
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