Dragon's Den is giving young entrepeneurs the wrong idea

On a path to failure.

It has never been easier to set-up a business, but too many are failing. The problem is experience. Sadly I’ve seen so many aspiring entrepreneurs fall short because they do not have the required knowledge in the profession they are looking to break into. The statistics demonstrate this too, with one in three businesses failing in the first three years. While knowledge is a key factor, the way the media heavily focuses on the entrepreneur does not help either. It’s almost as if it has become the new fashion to become an entrepreneur.

You only have to look at the likes of The Apprentice and Dragon’s Den to see evidence of this. While these shows can be great for the right person with the right idea, at the right time, the problem is that too many people watch these shows and think that in no time they can be driving around in a Ferrari and living the life of Peter Jones or Lord Sugar.

In times gone by, what used to happen was that someone would embark on a job and they first focused on learning that job incredibly well. Then, they would gain enough experience to feel confident enough to set-up their own business. The decision to do this could be for a number of reasons, for instance, perhaps they lost their job, perhaps they felt undervalued or maybe they felt that they could do the job better than their manager. The bottom line is that they had gained experience to start something on their own.

Unfortunately, the reality is that young adults leave school with very little experience in their profession, yet they want to set-up their own business. They think it’s glamorous and they think it’s easy. They come up with an idea and they just get on with it without the required knowledge. They lack life and employment experience and because of this they end up making a series of mistakes. However, if they had first learnt their trade then they would be in a far better position to start their own business.

While this situation is largely due to the current climate, in which graduates and school leavers are struggling to obtain a job in the industry or profession that they wish, there needs to be an emphasis on support, and we need to offer these young professionals the guidance they need. For instance, business owners need to be honest with budding entrepreneurs and tell them if they think they have a good idea – and if it’s not, they need to be told too.

I myself have worked with the Prince’s Trust and I am currently working on a project in Guernsey, run by the Chamber of Commerce, which has put together a business club where aspiring entrepreneurs attend. The club discusses business ideas, members have the opportunity to pitch them and they can receive investment if the idea is solid. They are then supplied with a mentor, like me, to help them achieve their goals.

While no one underestimates the hostility of today’s current market, we do still need to recognise the transformative power of start-ups and offer them the support and guidance they need to pursue their dreams. A community of entrepreneurs, mentors and educational resources is the key ingredient in a start-up’s success and I would encourage anyone who has the opportunity, to give back wherever you can. Business start-ups are the lifeblood of the UK and we need to do all we can to help it prosper and thrive.

Shane Turrell is founder of PracticePro.

This story first appeared on economia.

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This is a news story from economia.

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There's something missing from our counter-terrorism debate

The policy reckoning that occured after the 2005 terrorist attacks did not happen after the one in 2016. 

“Once the rockets are up, who cares where they come down? That's not my department, says Wernher von Braun.” That satirical lyric about Nazi rocket scientists has come to mind more than few times watching various tech giants give testimony in front of the Home Affairs Select Committee, one of the underreported sub-plots of life at Westminster.

During their ongoing inquiry into hate crime in the United Kingdom, committee chair Yvette Cooper has found a staggering amount of hate speech being circulated freely on the largest and most profitable social media platform. Seperately, an ongoing investigation by the Times has uncovered how advertising revenue from Google and YouTube makes its way straight into the coffers of extremist groups, ranging from Islamist extremists to white supremacists and anti-Semites.

One of the many remarkable aspects of the inquiry has been the von Braunesque reaction by the movers and shakers at these tech companies. Once the ad revenue is handed out, who cares what it pays for? That’s not my department is the overwhelming message of much of the testimony.

The problem gains an added urgency now that the perpetrator of the Westminster attacks has been named as Khalid Masood, a British-born 52-year-old with a string of petty convictions across two decades from 1982 to 2002. He is of the same generation and profile as Thomas Mair, the white supremacist behind the last act of domestic terrorism on British shores, though Mair’s online radicalisation occurred on far-right websites, while Masood instead mimicked the methods of Isis attacks on the continent.  Despite that, both fitted many of the classic profiles of a “lone wolf” attack, although my colleague Amelia explains well why that term is increasingly outmoded.

One thing that some civil servants have observed is that it is relatively easy to get MPs to understand anti-terror measures based around either a form of electronic communication they use themselves – like text messaging or email, for instance – or a physical place which they might have in their own constituencies. But legislation has been sluggish in getting to grips with radicalisation online and slow at cutting off funding sources.

As I’ve written before, though there  are important differences between these two ideologies, the radicalisation journey is similar and tends to have the same staging posts: petty criminality, a drift from the fringes of respectable Internet sub-cultures to extremist websites, and finally violence.  We don’t yet know how closely Masood’s journey follows that pattern – but what is clear is that the policy rethink about British counter-terror after the July bombings in 2005 has yet to have an equivalent echo online. The success of that approach is shown in that these attacks are largely thwarted in the United Kingdom. But what needs to happen is a realisation that what happens when the rockets come down is very much the department of the world’s communication companies. 

Stephen Bush is special correspondent at the New Statesman. His daily briefing, Morning Call, provides a quick and essential guide to British politics.