Transcript 1 million young
Fay Easton
Self Employed
• • • •
Projects Director with Shropshire Enterprise Partnership. Launched 3 Enterprise Hubs in Shropshire Start Up Britain Champion Co Founder Young Britain
UK Youth Unemployment 2013 4/10 may not work for a decade
THE JOBLESS GENERATION
1 million young
people unemployed
16-24
‘ Generational Disaster’ Davos: 2012 UK is in the midst of a
youth crisis Low demand for young people’s labour
Deloitte 2012
Unemployment rate for 16-24 year-olds is 20.5% - more than 1 in 5
Nearly 40%
of all unemployed people in the UK are young people
UK - F
astest rise in youth unemployment
of any G8 country since the start of the recession
Only Greece and Spain
have higher rates of youth unemployment than the UK in the entire OECD.
1 in 4
of the UK unemployed youth have been out for work for
more than a year
Youth unemployment is expected to reach
1.2million within 5 years
Long spells of unemployment in youth have the effect of
lowering wages & reducing health levels for life
The Industrial Age is over
and the UK is losing jobs faster than making them British educational systems and social culture are far
less conducive to entrepreneurship
than those of the US and Europe ‘innovation led’ economies
Start Up Generational Gap
Under 24’s 1/10 start a business even though rate of intent is 7/10
SELF EMPLOYMENT & EDUCATION
"The education system should not only make students employable but be able to employ themselves and this is not happening".
The Principal Oakfields Community College Middlesborough
43 young people chasing every job MAKE YOUR OWN JOB
YOUTH ENTREPRENEURSHIP
The Opportunities for GENERATION E An entrepreneurial generation
In the UK, incremental increases in self employment are ‘history’ Self-employment is at
highest level since records began
in 1992 over 1000 people a day are starting their own businesses
“
The World of Work is now broken and self employment and starting your own enterprise is the lower risk option – this has never been known at any time in history”
LUKE JOHNSON Serial Entrepreneur Chair of Risk Capital Partners Chair Start Up Britain
The DIGITAL AGE will change the world of work irrevocably
“Work will become more of a tradable commodity rather
than JOB. There will be more independent contractors and freelancers. In the US the percentage of work handled by independent contractors has grown from 6% to 27% in 2 decades since ‘digitalisation’ took hold”
FREE AGENTS predicted to become more than half the workforce in the next decade
MAKE YOUR OWN JOB
Young people need ‘Help & Money’ We have both 157 new young businesses started since October 2012
TARGET 25
START UP ZONES
Hubs+
PEOPLE POWER + finance =
3x PRODUCTIVITY & 98% survival rates
http://youtu.be/1N-cjx1zTtE