The CEO of constructaquote.com, Lyndon Wood, has met with Education Secretary Damian Hinds and the Minister of Small Business Kelly Tolhurst from the Department of Business, Energy, and Industrial Strategy at a roundtable event in London to discuss shaping and paving the way to entrepreneurship for young adults.
The meeting aims to delve into the kind of support children need to progress further and whether support and inspiration should come from schools as well as what can be done to break down barriers on the journey to success.
Lyndon Wood, CEO, constructaquote.com, said: “It was an honour to be invited to this important discussion on how we can motivate and inspire children around the UK on their journey to entrepreneurship.
It is important that we take onboard the fact that young adults are all different and one form of education system doesn’t work for everyone. We need to understand and appreciate that children that don’t fit into a rigid education model still have all of the opportunities and support they need to succeed in life,” he said.
Introducing a Youth in Business scheme was one initiative put forward by the constructaquote owner along with the importance of teaching the practical application of numbers and balance sheets and how vital it is that students are introduced to elements related to business.
Business owners should also be involved in educating young adults in a bid to show them there is still a road to success to be followed outside of traditional examinations and learning.
“Helping to build confidence in a young adult is vital if they are to succeed in life. Failing examinations leaves children lacking a belief in themselves – this needs to change,” said Wood.
Education Secretary, Damian Hinds said:
“We can all look back at our time in school and remember people that may have not done that well at exams but have gone on to do something amazing – such as start a business and create jobs for others. Those people have the confidence to take a chance on an idea, the drive to keep going and the resilience to bounce back if something goes wrong. I want young people to develop these character traits and leave formal education as happy, confident and well-rounded individuals.
“Character and resilience are the qualities and inner resources that we call on to get us through the frustrations and setbacks that are part and parcel of life. Today’s summit is all about finding out how we instil these traits in the young people who could be our business leaders of the future.”
From sleeping in his car to millionaire businessman, Lyndon Wood, owner of Moorhouse Group Ltd – the parent company of constructaquote.com, a top 100 insurance brokerage, knows a thing or two about going down an alternative road to success. The 48-year old from South Wales dropped out of school at aged 14 and now runs a business empire estimated at around £20 million.
“I moved out of my house and got a job in insurance on a commission-only basis. If I didn’t sell, I didn’t earn. I thought, well, I’ll build my own business as I didn’t know what else to do with my life. I was young and people tried to dissuade me from doing it. It was a big risk but I just got on with it,” said Wood.
By aged 26 Lyndon was a millionaire, by aged 29 a multimillionaire, he now employs 140 people at his offices in Caerphilly – but it comes at a cost.
The businessman wakes up at 5am each morning for half the month, sleeps just 5 hours a night, and commutes from Wales to London where he spends half of his week.
Joining the constructaquote CEO in Westminster were Henry De Zoete, Co-found of Look After My Bills, Pam Bateson, CEO of Thrive Partners, Dr Rami Ranger, Found of Sun Mark, Oli Barrett, Director of the Connector Unit, Akshay Ruparelia, Founder of Doorsteps.co.uk and Alice Living, health and wellbeing influencer, author, and personal trainer.