Business Insights jamie dunn reveals his views on
uk entrepreneurship By Alison Coleman
W ith the launch of
Start Up Loans last year, the UK is witnessing a new era
of entrepreneurship, with more financial support available than ever before to help young people start their own business.
That, coupled with the high quality business support, including mentoring, provides a recipe for long term success, at least that’s the view of Jamie Dunn, one of Britain’s most successful young entrepreneurs.
And he speaks from a position of authority, having already enjoyed an astonishing nine years in business, which began at the age of 12 with a local market stall. Since then, he has become increasingly involved in entrepreneurship and education, cofounding Made by Young People (MBYP), a business that gave youngsters an opportunity to produce and sell promotional goods. Two years later, Jamie has moved on to chair The A Fund, a £10 million investment fund supported by local organisations in his beloved home city of Birmingham, aimed at helping its talented youngsters set up their own enterprises.
Aged just 21, he has spoken at more than 300 events around the world, taking the stage alongside key industry figures such as Peter Jones, the US Secretary of State and many others. He is also a regular blogger for Virgin. com and has co-authored his own practical guide to business, #CrackOn.
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His views on entrepreneurship and education have been shaped not only by his own business experience, but from looking outside of the UK to see how other countries are taking a more holistic approach to entrepreneurship. He says; “In the US for example, entrepreneurship is introduced and encouraged in schools to children from the age of five. In the UK, this doesn’t happen until the age of 15. When someone aged 18 or 19 needs a business loan or funding, who is seen as the safest bet and presenting the least risk? Who is likely to have the most viable business plan? We really need to start teaching this at a much earlier age.”
Dunn travels extensively, spending time in places like Guatemala and Malaysia, countries where money is being invested in creating an entrepreneurial ecosystem to support fledgling enterprise communities. However, his enthusiasm for this activity is tempered by his concerns that too many emerging entrepreneurial cultures are following the US model, in particular that of Silicon Valley. He says; “It is the world leader in terms of tech start ups, and something that other cities and countries have tried to emulate. In the UK Silicon Roundabout is the name of London’s digital hub and we have the Google Campus in East London’s Tech City, but they can’t replicate Silicon Valley, and I think every place should have its own unique entrepreneurial identity.
“When I joined The A Fund, it wasn’t about large scale business. It focused on what Birmingham was about; its commercial history and its long tradition of innovation and creativity. That’s what the city has always been good at, so we provided opportunities for talented young people to revisit those industrial roots but in a contemporary way.”
He insists that the key to the success of schemes that support entrepreneurship, like Start Up Loans, is to take a holistic approach, providing young entrepreneurs with funding as well as access to practical business support in the form of training and mentoring. “With that in place, we have every reason to be optimistic about entrepreneurship and the role it can play in revitalising the economy,” adds Dunn.
Entrepreneur Country are a Delivery Partner for the Start Up Loans scheme. By applying through us, you can network with our community of fellow entrepreneurs and
investors,
receive a mentor, gain business advice and of course, receive funding for your business. To find out more, contact Olivia.
gray@ariadnecapital.com
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