Each year, more than 55,000 young people throughout Wales are involved in workshops to think about how they can become successful entrepreneurs, Economy Minister Ken Skates revealed at the start of Global Entrepreneurship Week.
Big Ideas Wales Role Models have been visiting schools, colleges, universities and other youth groups across the nation to help students think about how they could start their own business and thrive, with all secondary schools in Wales now actively involved.
This has resulted in 57% of people under 25 years old now having aspirations of working for themselves and be their own boss.
The Welsh Government’s Business Wales service has also played a vital role in supporting the creation of start-ups by helping entrepreneurs to create 10,500 new businesses since 2013.
The service has also provided business advice to over 71,000 aspiring entrepreneurs and small and medium sized businesses.
Today marks the start of Global Entrepreneurship Week with events being held to inspire and encourage people through the entrepreneurial ecosystem.
During the week, Big Ideas Wales will be supporting a range of entrepreneurial events across Wales, many in colleges and universities, concluding with the bi-annual ‘Bootcamp to Business’ – an intensive residential weekend that drives young entrepreneurs to start up.
The Youth Entrepreneurship programme, which is part of Business Wales, plays a key role in supporting the next generation of young entrepreneurs in Wales and encourages those interested in starting a business to take their idea forward.
Economy Minister Ken Skates said:
The Welsh Government is as committed as ever to encouraging and supporting the thriving entrepreneurial spirit we have here in Wales.
The importance of entrepreneurs to the Welsh economy cannot be underestimated. Encouraging more home-grown businesses means employment for people and apprenticeship opportunities which results in a more prosperous Wales.
Through programmes such as our Business Wales service, we are supporting people to unlock their inner creativity to setup and steer their business ideas to successful outcomes.
As a government, we will continue to work collaboratively with all sectors to build confidence for our entrepreneurs.
Global Entrepreneurship Week is a fantastic opportunity to promote and increase entrepreneurship across Wales. Through Big Ideas Wales, we have also increased the focus and support for our youngest entrepreneurs and I am delighted so many students have already been engaged with.