Newspaper article The Journal (Newcastle, England)

Youth Business Boom in City

Newspaper article The Journal (Newcastle, England)

Youth Business Boom in City

Article excerpt

Byline: ENTREPRENEURS Aranda Rahbarkouhi? 0191 201 6136 ?

NEWCASTLE is experiencing a youth business boom, as the economic climate drives more young people to consider becoming their own boss, a new report reveals.

The survey by The Prince's Trust, which is celebrating 30 years of setting up young people in business, found 25% of the region's young people between 16 and 30, believe they will be self-employed in the future.

Nationally, despite just 5% of young people in the UK being self-employed, more than a quarter claim they are "increasingly" thinking of setting up in business.

One in four young people in Newcastle said they would rather try to set up their own business than job-seek in today's competitive market.

Almost 31% of young people in the region have already made money from entrepreneurial activities, such as selling a product they have made or working on a freelance basis, and 46% hope to do so in the future.

Emma Reilly, 31, of Chapel House, Newcastle, is among those who have benefitted from The Prince's Trust.

As part of the trust's Birthday of Enterprise celebrations, Reilly met ambassadors husband and wife actors Damian Lewis and Helen Mc-Crory, who gave her advice on overcoming obstacles.

Reilly was diagnosed with bipolar disorder while at university which meant she was unable to complete her course. She was forced to move back to her parents' house and spent the next year unemployed.

Having always wanted to work in a creative environment, she contacted The Prince's Trust and enrolled on its Enterprise programme, a scheme supported by the European Regional Development Fund (ERDF) in Newcastle, for young people interested in self-employment.

The course gave Reilly an understanding of business. She also received a PS1,500 loan and help from a mentor to help to get her company - The League of Pixels - off the ground. …

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