2. What action is the Welsh Government taking to encourage more young people to start their own businesses? OQ59203

Thank you. The Business Wales youth entrepreneurship service encourages the next generation of entrepreneurs in Wales. It supports entrepreneurial ambition, and provides practical advice to take their ideas forward. Since 2016, 5,000 young people have been supported with start-up advice, and almost 700 have started a business. This, of course, is now being enhanced by the young person’s guarantee.

Thank you, Minister. As you are no doubt aware, 95 per cent of UK businesses are microbusinesses or sole traders. With much of the focus of economic development policies on attracting large employers, and preparing young people for workplaces, we have to question whether we are doing enough to encourage self-employment. I was, therefore, pleased to see a scheme run by the Bridgend Business Forum, in conjunction with the Rebel Business School, to offer free training to young people on how to start a business. Minister, will the Welsh Government monitor the scheme and look at ways to either replicate it across Wales or even incorporate the lessons into the school curriculum? Thank you. 

I'd be very happy if the Member were to write to me with the detail of the scheme that he has identified. As I said in my initial answer, we have a range of support services that are available. Business Wales is still the front door, so if anyone is concerned or doesn't understand the individual scheme, they can go to Business Wales and they can help to guide people through, and, also, those people taking part directly in the young person's guarantee funded work.

We've got a range of Big Ideas role models—over 400 of them—who do go out and encourage people who want to start up their own business. And what's encouraging about the young person's guarantee in this area is that, as part of the national conversation, 28 per cent of young people indicated they would like to consider becoming self-employed or running their own business, and, indeed, 25 per cent of them wanted more information on becoming self-employed. So, part of our challenge is, with the enthusiasm that does exist, how to make sure we have the right support available to help those who can go from an idea and a desire to actually be able to have a business plan and then to start up. And that's also why, of course, we have a range of our start-up grants that are already available to support people with exactly that ambition. But I look forward to receiving the Member's correspondence.