Today, the Prime Minister’s Enterprise Advisor, Lord Young, released his report into small business in the UK, The Report on Small Firms 2010-2015.

LordYoungAoCEnterprise

The report looks at the increasing number of start-ups, small firms and self-employment in the UK and the importance of enterprise education across all academic levels.

NACUE welcomes the interest and commitment from the highest levels of government to see enterprise become a prominent feature of the UK education system, and that this includes strengthening the work of student-led enterprise societies.

Commenting on the report Johnny Luk, Chief Executive of NACUE says:

Lord Young is right to recognise the importance of equipping students with the skills needed to thrive during and after education.

We are particularly pleased that the report highlights the value of enterprise societies for embedding enterprise into education. There is also a significant proportion of these societies that focus on social action.

With a rapidly expanding small business sector, Enterprise Societies are well placed to help students develop the vital soft skills, such as team building and communication, referenced in the report.

The grassroots student-led approach can energise students from a variety of academic backgrounds, capturing and channelling their interest in enterprise and entrepreneurship."

Lord Young’s report also uses evidence from NACUE to emphasise the growth in young people launching social enterprises. Interest from our members in starting a social enterprise is noticeably increasing, and last year 19% of our members were involved in founding a social enterprise.

This report follows on from Lord Young’s ‘Enterprise for All’ report in June 2014, in which NACUE featured heavily. This made a wide range of recommendations, recognising that there is a critical role for extra-curricular activities across the entire education pathway, represented through initiatives such as the Fiver Challenge commencing in primary education and Student Enterprise Societies in the further and higher education sectors.

The Report on Small Firms 2010-2015 was published on Tuesday 10th February 2015 by Lord Young of Graffham. You can find full details (including the report itself) here.

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