Research Projects
Research Projects
Kent Foundation learns from
the opinions of young entrepreneurs
Investing in research projects helps us to develop tailor made services to support young people. This can open up new pathways for young people to explore enterprise and gain support to reach their aspirations in business.
Kent Foundation has commissioned the following research projects:
This study funded by INTERREG a European funding body is to research a business network for young people who need support in starting a business but are under the age of 18. Kent Foundation and their French partner - Mission Locale are undertaking the same research and will come together in order to share their findings.
The catalyst for Kent Foundation coming up with the idea for this research was a 17 year old that approached us in spring 2010 with a business income of around £8000. This was a great success but they now expressed a wish for some business support - something of which they were not able to find in Kent.
A small survey was under taken to assess the demand for a business support network targeted at young people aged 15-18. Staggering results were collected with 25% of participants expressing a demand which suggested more comprehensive research was necessary.
This research provided concrete evidence for how Kent Foundation could provide a new service to support young entrepreneurs through a base of expert business mentors. It showed that it was a necessary and viable option to offer young entrepreneurs continued support through such a service.
The mentoring service is going from strength to strength and we have supplied many of Kent's young entrepreneurs with expert business advice through this service.
- Determining what young people see as their key requirements for starting a business.
- Understanding the key motivational drivers that set young people on this path, for example looking at the areas; Sole option for earning, commercial opportunity based on innovative idea, yhe wish to manage one's own future, following the family tradition.
- How ambitions correlates to the actions.
- How young people have fared in Kent.
- The impact been on business in Kent.
- The difference in the requirements as related to age, life-skills, life-experience etc.
- Forms of support delivery would most suitably support the younger market.
- Key actions be required to address the situation.
- In addition, the research examined previous initiatives and projects and their effectiveness.
The EmPower research has been conducted primarily with a Kent focus; however supportive information relating to other initiatives has been sought outside the area.
This study looked at the number of young people both considering and likely to start their own business, particularly gaining an insight into the "restrictors" and the "enablers" that influence young people's decisions. The research focused on two groups of young people:
- Students leaving 6th form or college and not going to university;
- Recent or new graduates from Kent's universities.
Although it is appreciated that the findings specifically relate to Kent, they do have a wider relevance in the South East of England and the UK generally
This study mapped the support for young people to start and grow their own business as a basis for Kent Foundation identifying if and how it can add value to the exiting range of support already available.
The analysis is focused towards identifying initiatives at four stages:
-
Creating a positive attitude and culture
-
Preparation for start up
-
Business start up
-
Business growth
