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Lord Young says it’s ‘the best time ever’ to start a small business

By July 17, 2015March 15th, 2019Business, Mentoring, Small Business

images (5)Conservative peer Lord Young has said it has never been a better time to start a new business.

The Guardian reported Lord Young as saying:

“There are far fewer challenges than in the past….You can start a business with £5,000 and a mentor. The challenge is you have got to have an idea and focus on it. The whole of business success can be summed up in three words – ‘focus’, and ‘follow through’.”

Lord Young was speaking at the launch of the third ‘Small Business Saturday’ yesterday. This successful campaign to celebrate small firms reach its high point on 5th December 2015 and it is hoped that it will better the wonderful figure of 16.5 million people who supported a small business on Small Business Saturday in 2014.

Lord Young is honorary chairman of the Small Business Saturday strategic advisory board, and is keen to raise the profile of small businesses.
“The world has changed so much in the last few years – over three quarters of firms in this country don’t employ anybody. Wherever you look the world is changing to people working for themselves or in small groups, and the great thing about Small Business Saturday is it appeals very much to retail businesses.”

“I have worked for big companies, I ran one of the top 10 FTSE companies, but the most exciting thing in my life was when I went off and started to work for myself.”

As in 2014, a Small Biz 100 competition will profile 100 small businesses in the run up to 5 December.

If you would like to pursue a small business idea, follow Lord Young’s advice and find yourself a mentor, and we might be able to help there!

Find out more about Small Business Saturday on the website at