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young directors on the rise in Hounslow

September 2012

During the first six months of the year, Hounslow has seen a dramatic rise in the number of directors under 25 years of age. 7.7% of new director appointments were under 25, compared with 3.6% during the same period in 2011.

The latest Duport Business Confidence Report reveals that numbers of young directors, have been on the rise since 2003, both in Hounslow and the UK as a whole. With fewer jobs available for young people since the recession began, it could be that more young people are setting up their own companies instead of looking for employment elsewhere.

Hounslow has been encouraging young entrepreneurs with start-up loan funding and advice for 18 - 24 year olds. Last year, a new scheme called Social Enterprise High Street Challenge supported young people who were struggling to find employment in setting up a gaming cafe on Brentford High Street. The scheme was run by the Hounslow Education Business Partnership, with support from a number of partners.

Managing Director of Duport.co.uk, Peter Valaitis said:

"The next generation of entrepreneurs is important to the economic viability of any area. It is encouraging to see so many young people in Hounslow taking control and setting up their own business."

With so many young directors in Hounslow, the area can look forward to a fresh, dynamic business culture in the years to come.

Duport Business Confidence Reports are generated and released by Duport Associates Ltd. The data contained in these reports is assimilated and analysed by Duport using public record data from sources including Companies House, Office for National Statistics and Ordnance Survey. Duport Associates Ltd is a leading UK company formation agent, established in 1997 and registering around 10,000 new companies each year through its Companies House approved software.

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