British Entrepreneur News is Good: Johnson

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Oct. 11 (Bloomberg) -- Luke Johnson, Chairman of The Centre for Entrepreneurs, discusses entrepreneurs affect to the U.K. economy and why the country fosters such talent. He speaks on Bloomberg Television's “The Pulse.” (Source: Bloomberg)

The romain -- we already have your views on the royal mail.

Let's move ahead.

From a european perspective, london, the uk is seeing a huge influx of entrepreneurs from around the continent.

We are.

This year we should see half a million new companies start in the uk which is an all-time record.

The number of people aged between 18 and 25 in this country who are involved in the start up of one kind or another is twice what it was in 2008. yes, the signs are positive very it corrects to we have better networks in the uk -- i think it is a whole digital revolution making it easier to start and to fail and to experiment.

I think it is cultural.

We are embracing a more entrepreneurial mindset.

Some of it is necessity because people can't get the jobs they wanted so they are having to freelance.

What more can be done?

I think we could lower regulator barriers.

We could help make capital easier to obtain and i think we could improve the attitude towards the idea of starting your own business.

Ultimately it is entrepreneurs who create a disproportionate number of the new jobs.

They are disproportionately innovative and they make an economic impact.

The importance should not be understated.

How many domestic entrepreneurs are there compared to people coming from abroad?

What kind of companies are the starting and which ones are working?

Across the country, a majority are uk citizens.

The fact is, immigrants are disproportionately -- they haven't disproportionate impacting entrepreneurial terms.

You have highly qualified individuals who are more likely to raise venture capital.

They come to london particularly because it is seen as a diverse global hub, particularly in areas like technology and increasingly in finance.

That is great news for the economy, because if we attract talented than we attract money and wealth.

A cluster feeds on itself.

You meet someone in a coffee shop and you have an idea and they have an idea.

How do we encourage that elsewhere?

At the moment it feels very london centric.

I think that is fair.

I think there are other centers like cambridge and manchester and edinburgh.

We need more of the cities to get all the different organizations together to help fund and inspire younger people to consider as a serious career move the idea of starting a business and going it alone.

It is about connecting partners, it is about helping them raise money.

It doesn't happen easily or quickly, but i think the long- term benefits for all of us are not to be underestimated.

What is the first mistake that you see entrepreneurs making yak oh the biggest mistake.

One of the things i learned early on was it is a really good idea to get a partner or two.

It can be very lonely on your own and it is much easier to get it wrong.

When you are beginning, it is very helpful indeed to have some soulmates with whom you can deal with the challenges and your chances of success are much higher.

One of my great pieces of advice is to get a partner.

Can i get your take on the wider economy at the moment?

You have your finger in a number of lies.

How are you seeing things developing?

What is really happening at the grassroots level?

I meet entrepreneurs all the time.

The mood is much better than it was heard there is increasing confidence and optimism.

I am sure that is going to feed into more hiring, more investment and it will become a virtuous circle.

It is always difficult to scientifically analyze.

The entrepreneurial community are definitely rising.

That is good news for the community.

These are companies that are disrupting existing models or do they just have great ideas that we have never thought of?

The fact is you get some startups that are very radical and very innovative and others that are very much me, too.

Many businesses are one-man or one-woman operations and others might lead to jobs for 100. it is a very diverse ecosystem.

What matters is that we increase the number of people who are giving it a go and we embrace the mindset of enterprise more.

Ultimately it does lead to a higher standard of living.

Ultimately, for those who do it is independence and freedom and it is an ability to control your own destiny.

There is a funding gap that exists, they call it the valley of death.

Is that were the biggest block is right now in terms of funding and what can be done to alleviate it?

It is true that there are several gaps.

There is the need for initial funding and then the need for money in years two and three.

I think we need ideally more institutional venture capital.

We need more angel investors.

How do we get that?

While there are new areas like crown funding that are coming in that may prove helpful . we need to raise the profile of angel investors.

They're underrated and very important.

And we need to show success stories because the more role models there are, the more likely these people will -- there are a lot of tv programs out there right now that are designed to promote entrepreneurs.

I think dragon's den slightly caricatures the whole start up capital venture process.

I love the idea of entrepreneurs of any kind being on tv.

They raise the profile.

They do help shift the mindset.

But i think it would be nice to have some more serious real-life type examples, some more uplifting examples of big success stories that people are going to want to emulate.

Keep watching.

Talk to me.

Alitalia today in teaming up with post italiano.

A lot of countries wanted domestic airlines.

This is just a mistake waiting to happen?

People have always said the airline industries is as tough as it comes.

Particularly because it is heavily unionized, they have a chronic history of losses.

One has to be nervous that the challenges, but problems that face alitalia are not really being faced by this merger.

Is a something that is concerning you as a free liberal?

I like the fact that easyjet and ryanair are now amongst two of the largest airlines operating right across continental europe.

Both of them started by entrepreneurs.

Both of them headquartered in the uk.

They are a case study of how our enterprise culture doesn't work.

Jpmorgan kick softbank earning fees today.

It will be the first of the six to post results.

We dig into the numbers next.


This text has been automatically generated. It may not be 100% accurate.


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