Young People and Self-Employment

MQT on 2013-06-19
Session date: 
June 19, 2013
Question By: 
Stephen Knight
Liberal Democrats
Asked Of: 
The Mayor


A recent study by the Prince's Trust found that an increasing number of young people - up to 30 per cent of those surveyed - are considering self-employment, in part due to the current shortage of jobs. The study also found that 33 per cent of young people would be more likely to consider self-employment if they had a mentor. Will you use the tools at your disposal, such as the LEP and Team London, to offer mentoring for young people who wish to start up their own businesses?


Answer for Young People and Self-Employment

Answer for Young People and Self-Employment

Answered By: 
The Mayor

I am a strong supporter of young people wanting to become entrepreneurs and London has more business start-ups than anywhere else in the UK. London also has a wide range of business support facilities, provided by public, private and non-for profit organisations which often can be accessed free of charge or at very low cost.

My London Enterprise Panel (LEP) is undertaking work to support London SMEs and it is in the process of drafting its implementation plan. This document will be identifying how best to support, maximising the multiple tools already in existence in London, entrepreneurs wanting to set up their businesses. The LEP will consider business mentoring as one of the elements that can help young entrepreneurs, alongside other key areas like accessible workspace or access to finance.

The LEP is also running a major Skills London Careers event in the autumn, supporting and enhancing my London Apprenticeship Campaign and helping to shape future careers advice provision, including around entrepreneurship.

The 639 Tottenham High Road Enterprise Centre provides affordable workspace for new and emerging SME's. It is an opportunity for people to test their business ideas. At 639 businesses are supported in their early stages and are given training and advice to help them grow and develop. 639 is a GLA owned and funded project which I formally opened in May 2013 and over the next 3 years we hope to help the establishment of over 85 successful businesses.