Bolton fosters young entrepreneurs

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Figures in the latest Duport Business Confidence Report show higher than average numbers of young directors in Bolton during the first half of 2012.

Bolton Abbey

With fewer jobs available for young people, especially graduates, it appears that more under-25s are choosing to start their own business.

Bolton: During the first half of this year, Bolton has seen an increase in company directors under the age of 25. The percentage of young directors during this period was 6.5%, significantly higher than the UK average of 4.9%.

According to the latest Duport Business Confidence Report for Bolton, numbers of young directors have been rising steadily since 2004, in both Bolton and the UK as a whole. During the same period, numbers of directors over the age of 65 have been decreasing.

The government is keen to encourage entrepreneurism in young people and has recently launched an £82 million StartUp Loans scheme for 18 - 24 year-olds. The funding will be administered by partner organisations who will also act as business mentors, and is expected to be in the region of £250,000 per company.

Managing Director of Duport.co.uk, Peter Valaitis commented:

“With fewer jobs available for young people, especially graduates, it appears that more under-25s are choosing to start their own business. Such independence and entrepreneurial spirit bodes well for the next generation of business people in Bolton.”

The country may be facing a tough economic climate, but it seems that young people in Bolton are embracing the challenge of setting up a business on their own. The growth and development of business start-ups can only be a good thing for the area.

Duport Business Confidence Reports are generated and released by Duport Associates Ltd. The data contained in these reports is assimilated and analysed by Duport using public record data from sources including Companies House, Office for National Statistics and Ordnance Survey. Duport Associates Ltd is a leading UK company formation agent, established in 1997 and registering around 10,000 new companies each year through its Companies House approved software.

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Tom Valaitis