Entrepreneurs across the world will pick up a boost from thousands of events taking place across 115 countries.
Global Entrepreneurship Week (GEW) is a flagship campaign aimed at supporting small businesses and start-ups.
The week comprises 40,000 events – including more than 3,000 in Britain, where the government has pledged to give two entrepreneurs advisory roles.
The theme is ‘pass it on’ in terms of practical support, advice and signposting for funding to young entrepreneurs who are looking to start their own businesses.
Besides mentorship and assistance from successful businesses, the week will also help kick start funding by promoting British financing for start ups through the seed enterprise investment scheme.
Seed Enterprise Investment Scheme
The Seed Enterprise Investment Scheme, or SEIS for short, offers significant tax breaks to investors ready to back start ups with up to £100,000 cash during this financial year.
Other groups, like crowd funding web sites are also pulling out all the stops to raise money for new businesses and innovative ideas.
The government has also launched a new £1.1 million Entrepreneurs and Education Program that will work with academics, researchers and students to promote enterprise, self-employment and help commercialise innovations
Secretary of State for Business Vince Cable said: “This year there were a record number of 4.8 million SMEs in the UK. That is welcome news, and we need to continue encouraging entrepreneurial spirit amongst people of all ages so they can turn their ideas into businesses.
“We have a great entrepreneurial knowledge base in our universities that we have to use to our competitive advantage. The £1.1 million investment that we are making through the Entrepreneurs and Education Program will help us unlock this potential by giving real support to people who are looking to commercialise their innovations.”
Incubation hub
Ministers will visit businesses and events and meet with entrepreneurs throughout the week.
Business Minister Michael Fallon kicked off the week at the Wayra incubation hub in London. Wayra is home to a number of innovative start-up businesses.
“Global Entrepreneurship Week is about celebrating our job creators. It provides a platform to promote enterprise and showcases the fantastic opportunities for entrepreneurs that exist in the U,” said Fallon.
“Recruiting two entrepreneurs in residence will provide a vital link between government and business. It will help to change the culture across Whitehall so that we really do think small first. So many decisions that are made in government affect entrepreneurs and we need to better involve them in that process.”
