Finding role models key to helping young people set up Yorkshire businesses: Jane Slimming

The most recent statistics from R3 show this year began brightly in Yorkshire and the Humber, with startups growing by 34 per cent in January from the previous month. The figures increased further in February, reaching a peak of 5,315 in March. After falling in April, they increased 11.5 per cent month on month to 4,782 in May.

A new business creates jobs and reinvests profits back into the regional economy. Successful entrepreneurs will build good relationships with their suppliers, peers and advisors to help navigate the headwinds that every business faces.

Despite the thriving startup scene, it’s been reported that 60 per cent will fail in the first three years. How can we improve this figure? It’s clearly in everyone’s interest to see more businesses survive and thrive.

More can be done to help entrepreneurs connect with trusted advisors and build networks. Too often, advisory networks can be free for all with little guarantee of efficacy or quality. All business owners would benefit from easy access to trusted advisors recommended by their peers.

Equally important is a network that can be accessed by communities that don’t regularly network in the offices and bars of central Leeds, Sheffield or York. If an entrepreneur doesn’t have friends or family to fall on for contacts or business advice, it can be a huge challenge to find the advice you need to move forward.

While incubators do a valuable job of helping people get started on their business journey, it’s essential that business networks exist to support the next step and help to company grow to a scale-up.

Having business role models is also an essential component of entrepreneurship. Business role models motivate you to do and be more. They demonstrate that success is attainable whether you are from a big city or a rural village. Looking up to successful business people inspires you to dream larger and achieve more.

The web has helped people access role models from around the world, but they rarely become mentors. The ability to connect with role models and form meaningful relationships will help to accelerate businesses across the region.

A study by Entrepreneur First found that half of the people aged between 18 and 30 in the UK had ambitions to start their own business. However, if entrepreneurship is to be a viable career path for the younger generation, it’s essential that role models are available to inspire and guide. These role models must be from diverse backgrounds and a wide range of industries.

Technology can bring people together in digital communities and create meaningful face-to-face connections. We are lucky in Yorkshire that people, by and large, are predisposed to get involved and help out.

Jane Slimming is the CEO of Zeal, a digital marketing agency in Leeds and founder of Zeal Connect, a startup support network.