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Young entrepreneurs can't be ignored in times of recession -Williams

January 7, 2010 10:17 AM

Ceredigion's Welsh Liberal Democrat MP Mark Williams has todaychallenged Welsh Secretary Peter Hain during Welsh Questions on theimportance of encouraging young entrepreneurs in Wales.

Mr Williams cited a report by the Prince's Trust and Natwest which foundthat 62% of young people in Wales believe the Government could reduceyouth unemployment levels by providing clearer routes for young peopleinto self-employment. The report also found that 69% of youngentrepreneurs in Wales had not taken action to progress their businessideas.

Mr Williams asked Peter Hain about the concerns of young entrepreneurs.In response Mr Hain acknowledged that this was a concern and said thathe supported the efforts of the Prince's Trust to encourageentrepreneurship in Wales.

Commenting, Mark Williams said:

"The recession has hit many who have lost their jobs, but it is alsoacting as a barrier to young entrepreneurs who want to start businesses.

"Small businesses are hugely important to Ceredigion and there have beengreat success stories in the County, but we need to ensure that as wellas safeguarding existing businesses we provide support to start-ups.

"I was pleased that the Welsh Secretary acknowledged the concerns Iraised, and I hope he will consider what action the Government can taketo assist entrepreneurs in moving forward with their business ideas."

ENDS

Notes:

Text of Mark Williams's Welsh Question: Mark Williams (Ceredigion) (LD): Despite the benefits of the future jobsfund-I pay tribute to it for the jobs that have been created in myconstituency-45 per cent. of those unemployed are under 25. Does theSecretary of State share the concerns of the Prince's Trust aboutopportunities for young entrepreneurs to create businesses and jobs forthe future?

Mr. Hain: I very much agree with the hon. Gentleman. As he knows, one ofthe future jobs fund schemes is in Ceredigion. The Prince's Trust doesfantastic work in Wales and elsewhere, and we should support its effortsto encourage young entrepreneurs to get themselves out of the crisis.That said, because of active Labour Government investment and thepolicies that we have pursued, youth unemployment is a third lower thanit was in the early 1990s under the Tories