AXA Business Insurance Focuses on Getting Young People into Work to Stimulate UK Economic Growth

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With over 1 million young people currently unemployed in the UK, the future may look bleak to some, but AXA is convinced helping young (often unemployed) people start up businesses is the way to grow the economy and finally get the country out of recession. To reinforce its commitment AXA has sponsored an innovative show to drive jobs creation – Youth Enterprise Live.

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AXA believes that there is no higher likelihood of business failures or increased risk in companies run by young people than in those run by experienced, older managers. They therefore have no requirement to provide any details of age when applying for business premises or liability insurance.

Historically start-up businesses have helped the UK out of recession and with so many young people choosing not to go to into further education there is fierce competition for the few jobs available to school leavers.

One solution is for young people to start up their own business and become their own bosses. In terms of age, young entrepreneurs will not find themselves paying any more for business premises and liability insurance than those who have been in employment for a number of years, making these start-up costs affordable for start-up budgets.

AXA Business Insurance has today announced its sponsorship of the first Youth Enterprise Live event which will be hosted at Earls Court in London on 12th and 13th October 2012. Youth Enterprise Live and AXA Business Insurance believe that we’re a nation of budding entrepreneurs and have created an interactive event to help young people on their way to employment.

The free event split into four zones – education, enterprise in education, employability and enterprise – will involve seminars, interactive workshops and exhibiting companies and will bring together young people aged 16 to 30 with inspirational speakers and employers with a view to helping them take the first steps towards starting their own business.

A number of companies attending will also be looking to interview and recruit individuals at the event giving those young people who decide running their own business is not for them an alternative employment route.

An example of the sort of guidance and practical, interactive activities AXA will be providing at the event are:

  •     Actor run first impressions workshops to help with nerves management and image
  •     Futurologist talks highlighting the way businesses will work in the future, allowing attendees to adapt their ideas to meet the changing face of business
  •     Interactive tasks to determine an individual’s level of entrepreneurialism in association with the Aldridge Foundation
  •     Interactive snakes and ladders business risk game for students, with prizes available for those at the top of the leaderboard

Darrell Sansom from AXA Business Insurance said: “AXA Business Insurance was launched in January 2012 to help small and start-up businesses protect themselves now in order to be best placed to grow their business in the future.

“We share the belief that young people in Britain are aspiring entrepreneurs and we want to be a part of protecting their progression as much as we are of protecting our existing customers.

“By sponsoring Youth Enterprise Live and having no age restrictions on business premises and liability insurance, we are delighted to be able to help some of those young people on the path to starting up their own business.”    

Further details about the event can be found at http://www.youthenterprise-live.co.uk.

About AXA Business Insurance
AXA is one of the largest general insurers in the UK and underwrites a broad range of products for individuals and businesses. AXA Business Insurance offers business insurance for sole traders, the self-employed and small businesses through its website http://www.axainsurance.com/business and is designed to make buying insurance fast, secure, convenient and easy-to-use. Small businesses can choose Public Liability, Employers’ Liability and Professional Indemnity insurance and can tailor cover to their own requirements.

About AXA
AXA UK is a part of the AXA Group. The AXA Group is a worldwide leader in insurance and asset management serving 101 million clients. It is ranked the largest insurer in the world by net written premium and the top insurance brand globally.

In the UK AXA operates through a number of business units including: AXA Wealth; AXA Commercial Lines, AXA Personal Lines, AXA PPP healthcare, AXA Ireland and an independent distribution business Bluefin. AXA employs over 13,000 staff in the UK.

For full year 2011, IFRS revenues amounted to Euro 86.1 billion and IFRS underlying earnings to Euro 3.9 billion. AXA had Euro 1,079 billion in assets under management as of December 31, 2011.

The AXA Group is included in the main international SRI indexes, such as Dow Jones Sustainability Index (DJSI) and FTSE4GOOD.

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