The Welsh Assembly Government believes that young entrepreneurs are the key to boosting the Welsh economy.

Jenny White reports on a flurry of initiatives aimed at nurturing the business people of tomorrow.

Young entrepreneur: James Good

What’s your business?
James Good Limited, an identity design and branding business.

How old were you when you started out?
I started working for myself when I was 17 in 1997, and James Good Ltd was incorporated as a Limited company in 2002, when I was 22.

What inspired you?
I always knew I’d be my own boss. I always knew I wanted to run my own business. I’m not very good at doing as I’m told!

Did you receive any help, support or guidance along the way?
There have been a few people I’d consider mentors over the years; each has helped in small yet significant ways. The bigger picture has been the result of going it alone and learning from mistakes, persisting and working bloody hard to overcome the challenges.

What were the biggest challenges you faced?
I felt the age issue a lot. It’s very difficult to be taken seriously and create your own success when people find it hard to put their confidence in someone so young. Fortunately we’ve crossed that bridge now. My profession is of a creative nature, but it’s intrinsically linked to business. My creative work could always be judged subjectively on its own merit, but my business acumen is something that I’ve had to work hard to develop and prove.

What’s your biggest achievement so far?
Over the past few years my business has suffered with the best of them, but we have battled on, adapted, pushed forward and grown. While other businesses have crumbled and cut back, we’ve taken on four new full-time members of staff this year and we’re very close to doubling our annual turnover. That’s an achievement that my mum is certainly very proud of. Obviously I am too.

What tips would you give to young people wanting to become successful entrepreneurs?
Be prepared to work long and hard, to give up your personal life and to live on the bread line until is all comes good, but if it’s what you know you want to do... aim high, think big and do it.

Why is it important to nurture entrepreneurship in young people?
With fewer worries and responsibilities, the young are free to see problems on face value and have big ideas. There’s a level playing field and the moon on a stick is there for the taking. They have an entire lifetime to achieve their goals and they should be encouraged to go for it. We should not forget that it’s people of entrepreneurial nature that keeps the economy moving, both financially and through employment. The UK needs entrepreneurial minds and the UK could certainly use a few people with big ideas right now.