Students and Over-55s send Start-up Figures Soaring

Students and retirees are turning their back to the traditional job market to set up their own businesses, two new pieces of research have highlighted. The first, a survey of 500 small businesses carried out by Clydesdale and Yorkshire Bank, found that nearly a quarter (23%) of over 55s had set up their own business after being made redundant, while 12% had decided to become an entrepreneur on retirement.   More than a million so-called ‘older-preneurs’ had used redundancy or retirement as an opportunity to go it alone, according to the bank, with many turning a lifelong hobby into a business venture. Saga spokesman Paul Green said older people were more experienced and could often raise significant capital with which to start a business, saying: “They’ve ... »

Students Ill-equipped for Business Despite Record Results

Poor basic skills are leaving young people ill-equipped for work despite record exam results, the Institute of Directors (IoD) has warned. Even though this year’s A-level and GCSE results show record grades, the IoD has cautioned that high pass rates do not equate to more capable young people entering the workplace. “A lack of skills is holding back business growth and impeding organisations’ ability to capitalise on economic recovery,” said the IoD’s director-general, Miles Templeman. He added; “The fact that we have a system where we can expect little more than half the pupils to achieve the benchmark of five good GCSEs, including English and maths, is a fundamental problem.” The IoD has highlighted poor literacy and numeracy among people leaving education as majo... »