Where have all the Hunters gone?
So, its official, Scotland has lost a generation of young entrepreneurs and its down to the Government to do something about it.
Research for the Global Enterprise Monitor (GEM) conducted by Dr Jonathan Levie of Strathclyde Universitys Hunter Centre for Entrepreneurship – named after Sir Tom Hunter as a prime example of a dying breed of go-getters – has revealed there are fewer ‘thirty-something’ business leaders than over recent years. More specifically, the GEM report shows Scotland has a 3.7% business start-up rate among the working-age population against a UK average of 5.6%. Fear of failure has risen from 31% in 2007 to 43% in 2010 and fewer people Scots aged 18 to 23 were likely to set up a business than elsewhere in the UK.
Business and political leaders are calling for a fresh look at enterprise policy together with the creation of a business start-up fund and the establishment of easier lines of credit.
Interestingly, the Report highlights a spike in business start-ups in Wales that could well be attributed to an entrepreneurship action plan implemented 11 years ago, focusing on mandatory enterprise training in universities and colleges. Perhaps Scotland could learn from Wales? Perhaps the UK could do?