It is often said that this is an unknown period during the pandemic, and our economy has undergone an irreversible transformation in the future, but it will not necessarily be transferred to where!

According to a survey of 2,000 people commissioned by City & Guilds and conducted by YouGov in June 2020, a recently published report "Recovery and Resilience" shows that 54% of those surveyed who recently took leave were worried or very worried. Worried about work safety.

In addition, it is clear that young people are particularly affected in the labor market: a recent report (by the “Young Workers Resolving the Corona Virus Crisis” Foundation (Resolution Foundation)) shows that young people requesting unemployment benefits 235,000 increased to 523,000 in May this year-in just three months, the number has almost doubled.

So...Although most of the future is still full of anxiety, we can optimistically insist on the fact that intelligence and innovation will promote economic development in the 1920s and beyond.

In addition, this is a huge power of the British economy, and it still needs to be maintained. The power of new startups will help us revitalize local, regional, national and global growth. After all, we are often referred to as the "country of shop owners" and are often told that, statistically speaking, the vast majority of our local economy is dominated by small and medium enterprises (small and medium enterprises, usually with up to fifty employees) . Both of these characteristics are based on the entrepreneurial spirit of the UK and a love for controlling their own destiny.

From my personal experience, I know that this entrepreneurial spirit is not something we must impose: when I was the principal of Norwich City College, we conducted a random online survey of students, both academically and professionally. And, even so (2010), more than 60% of people want to become self-employed (especially the most common industry in the gig economy) or start their own business.

So, given the epidemic, the number of unemployed people, and the possibility that the British population generally wants to start their own business (or become a self-employed person), why are these people not here now and let them have great, new business ideas?

Well, one of the things people say to make someone give up their business is the statistics of many start-ups failing.

The latest data from the National Bureau of Statistics (ONS-2018 data) shows that more than 380,000 new enterprises opened in that year. ONS claims that the "survival rate" for companies that are at least one year old is approximately 89%. However, those businesses that are still operating after 5 years have dropped to nearly 42%. Therefore, the data does paint a grim picture.

Obviously, there are many reasons for business failure. These obviously include:

Increased competition

Lack of investment funds

Changes in customer/market needs, and

No suitable team

Indeed, a lot of research has been done in this area, and even a quick Google search will provide you with the top ten or top five-even the top eight or top nine! -Reason for failure.

A key way must be to provide up-and-coming entrepreneurs with the knowledge and skills to make them more capable of meeting the challenges inherent in new businesses (or actually becoming self-employed), such as managing your finances or purchasing investment finance or management people. I don't think entrepreneurs are born, not genius! No matter how much inherent risk you have, as long as you don't understand the meaning of cash flow, you won't make this brilliant idea profitable.

Therefore, providing these skills and knowledge to potential new business owners may really change the ability of our employees to succeed, which many have failed before.

At EduGrowth, we want to play our part in supporting the UK's world-class support system.

We have developed a set of online education and training modules to support potential start-ups. We pointed out in the same City and Guilds report cited above that for 40% of workers, when considering training courses, delivery through online learning capabilities is the highest requirement.

In our plan, we also provide unique (we believe!) facilities by providing coaching support from experienced coaches to help our participants develop their business ideas. And all our course assessments are completely practical, and each exercise is applicable to the participants’ own business ideas. Therefore, they can make their business ideas better by simply executing this procedure!

Now, in the post-pandemic Britain, we not only need education and building infrastructure, we also need StartUp!

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