Young Entrepreneur Society calls for government to become an angel investor
Campaign demands investment in Britain’s young entrepreneurs
Would you accept angel investment from the government?
That is the question being asked by the Young Entrepreneur Society (YES) today, as it launches a campaign for the government to “put its money where its mouth is”.
The Entrepreneurial Government campaign, which is currently open for public discussion, proposes that the coalition could encourage youth entrepreneurship by becoming an angel investor itself.
Under the proposals, the government would help 10 of Britain's brightest young entrepreneurs (each year) raise investments of up to £50,000, in return for equity in their businesses.
The final 10 would be screened by a yet-to-be-announced panel of high profile entrepreneurs and experts, and the investments would be accompanied by mentoring from YES and the panellists.
If successful, the scheme would reinforce existing government initiatives, such as the recent Business in You campaign, by providing start-up capital for Britons to springboard their business ideas into reality.
The idea is that, as an angel investor, the government would receive a return on its investments, which can then be reinvested into other promising businesses.
YES's 22-year-old co-founder Carly Ward, a young entrepreneur herself, explained:
“Young people have fantastic ideas for great businesses that can provide wealth and jobs for our country and the government wants to encourage this.
“YES is calling for the government to stop talking about it and become more entrepreneurial themselves by investing in Britain's young entrepreneurial talent. They can make a good return on their investment and reinvest in more businesses in the future.”
YES already has the attention of the government, having yesterday announced that the coalition will introduce the organisation's '12 steps to success' programme as a recognised enterprise qualification. It will be used to teach young people aged 16-18 how to start their own businesses.
You can share your thoughts on the Entrepreneurial Government campaign in the comment box below, or by voting YES or NO to the initiative on the YES website