GUEST COLUMN:
Sarah Porretta
CEO
Young Enterprise UK
Young people in Wales are entering the world of work at a moment of profound change. Economic uncertainty, rising inequality and the growth of artificial intelligence are reshaping not just the jobs available, but what a career looks like.
For many, the traditional, linear pathway from education into stable employment no longer feels realistic. Instead, young people are increasingly aware that they need to create their own opportunities rather than waiting for them.
This shift is driving a growing interest in entrepreneurship. But this is not simply a choice between starting a business and getting a job. Careers are increasingly blended, combining a mix of employment, freelance work, side hustles and entrepreneurial activity. Employers need ‘intrapreneurs’ too – colleagues who can innovate and drive growth.
As such, the question is no longer if young people will engage with entrepreneurship, but if they are prepared to do so successfully.
Opportunity is high, but so are the barriers
Encouragingly, the appetite for entrepreneurship among young people is already strong. Our research shows that 81% of 16–24-year-olds have taken part in some form of entrepreneurial activity, whether that’s selling online, running a small venture or engaging in enterprise programmes at school. Very few young people say they have no interest in entrepreneurial activity.
Yet for all this enthusiasm, significant barriers remain.
Young people consistently cite access to finance, fear of failure and limited networks or mentors as major challenges. These structural barriers can prevent early ambition from translating into sustained success, particularly for those from disadvantaged backgrounds.
In Wales, these challenges are even more acute. Around 31% of children are growing up in poverty – higher than the UK average – while employment rates and earnings also lag behind. Youth unemployment remains stubbornly high, with around one in six young people currently not in work.
For aspiring young entrepreneurs, this creates a difficult starting point. Without targeted support, too many risk facing economic disadvantage and reduced confidence in their ability to succeed.
Why an entrepreneurial mindset matters more than ever
Entrepreneurship drives the Welsh economy by creating vital employment opportunities, fostering localised innovation and generating new wealth.
And for young people navigating a labour market increasingly shaped by automation and AI, an entrepreneurial mindset – encompassing creativity, problem-solving, resilience, communication and adaptability – is becoming essential. Crucially, these skills are built through experience.
Practical, hands-on learning gives young people the opportunity to test ideas, collaborate with peers and learn from both success and failure. Through programmes such as those offered at Young Enterprise (YE), young people work alongside business mentors and entrepreneurs, gaining first-hand experience of how businesses are created and operate.
YE alumna, Founder and BBC Apprentice Candidate 2025, Mia Collins, confirmed:
“Young Enterprise taught me something I still value to this day – proof that I could do it. Not theory, not a lesson plan, but actual evidence from taking a risk and trying something new. That's what builds an entrepreneurial mindset in young people – not telling them they can but giving them an environment where they find out for themselves that they can. The confidence I built through Young Enterprise at school is something I still draw on today. Every young person deserves that experience and I’m grateful to be a part of it and help shape the next generation of entrepreneurs.”
The impact is clear: 84% of participants report a better understanding of what employers are looking for and where they need to develop. They also gain the confidence to apply those skills in employment, further education or entrepreneurship.
Building an ecosystem for young entrepreneurs
Unlocking the potential of young entrepreneurs cannot be achieved by any one organisation alone. It requires coordinated action across education, business and government.
There are positive signs of progress. Initiatives such as the recent Maple Review, which proposed a National Public–Private Business Skills Guarantee, signal a growing recognition of the need to ensure every young person has access to business skills, role models and entrepreneurial pathways before leaving education.
Businesses also play a vital role in this effort, bringing insight on emerging industries, technologies and skills requirements to ensure education remains relevant and forward-looking.
At the same time, government support is essential to scale what works. We must move beyond isolated examples of good practice and towards a consistent, national approach that gives every young person, regardless of background, access to meaningful work-readiness and enterprise experiences.
Turning ambition into reality
Bringing the Young Enterprise Company of the Year Final to Cardiff reflected the opportunities in Wales for young people to build skills and explore entrepreneurship. With the overall winners coming from North Wales, the final also shone a light on the creativity, ambition and entrepreneurial thinking of young people in the nation.
The opportunity is clear. Young people in Wales are motivated, ambitious and already demonstrating entrepreneurial instincts. But without the right support structures, too many will struggle to turn that ambition into sustainable success.
By investing in enterprise education, expanding access to real-world experience and fostering stronger partnerships between schools, businesses and policymakers, we can create an environment where young entrepreneurs are not the exception but the norm.
In doing so, we will not only support individual success, but help build a more dynamic, inclusive and resilient economy for Wales.
